The Cape Breton Regional Municipality is changing the way it can manage its longstanding debt.
The municipality’s current debt is around $69.8 million — much better than it was prior to the 2020 municipal election, when it was registered around the $145 million mark, says the CBRM’s chief financial officer, Jennifer Campbell.
Early on under the previous administration, the province’s Department of…
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Of this, £245,604 is earmarked for HM Revenue & Customs (HMRC) and £2,728 towards employee arrears or holiday pay.
Once this was paid, the firm would still owe more than £3.4m to creditors, the document said.
This included an additional £1,589,738 owed to the HMRC, £591,993.60 to the EA and £132,097.20 to Newcastle-under-Lyme Borough Council.
It also owed £43,798 to employees, £386,602 in landfill tax and £76,000 in deferred tax.
After the remaining £254,156 of assets has been used, the company would still owe creditors more than £3.2m, the records showed.
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CASA declared bankrupt, three receivers appointed The Brussels Times
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Jetski dealership sinks into liquidation Business News
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Leasing company announces its windup in Azerbaijan Trend News Agency
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Even as the amendments to be Insolvency and Bankruptcy Code (IBC) are getting delayed, the Insolvency and Bankruptcy Board of India (IBBI) has made a slew of regulatory changes in the past 18 months to enhance the efficiency of the resolution process.
“Until amendments to the IBC are carried out, it’s only logical for the IBBI to make regulatory changes,” an official source told FE. Going forward too, the IBBI will be making significant changes to regulations to improve the efficiency, transparency, and effectiveness of the resolution process, the person added.
In a discussion paper issued in February, the IBBI proposed to empower the Committee of Creditors (CoCs) to request the Adjudicating Authority(AA) for a two-stage…
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Print companies Acorn Press and MPD Offset had ceased trading on Friday, January 31, less than six months on from the two companies completing a merger.
As of 27 February, Huw Powell and Andrew Hook of insolvency practitioners Begbies Traynor have been appointed as joint liquidators for both companies, according to filings at The Gazette.
Managing director Simon Evers told Printweek in February: “It is a difficult day for everyone involved with Acorn Press Swindon and MPD Offset.
“Despite substantial investment in many areas it has not been possible for Acorn or MPD to achieve the required sales volumes.
“A weakening market in the last 12 months materially impacted the business.
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Texas gun company goes bankrupt two years after launch as firearm users bemoan ‘gunfluencers’ MSN
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The National Company Law Tribunal, Mumbai bench comprising Prabhat Kumar (Technical Member) and Justice V. G. Bisht (Judicial Member) have held that any payments made from the Corporate Debtor’s account after the commencement of the Corporate Insolvency Resolution Process (CIRP) without the Interim Resolution Professional’s (IRP) approval are in contravention of the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (the Code). The Tribunal directed Respondents to refund amounts totaling Rs. 10,01,80,000 and directed the Liquidator to notify IBBI for proceedings under Section 74(1) of the Code.
Brief Facts:
Mr. Ashish Arjunkumar Rathi (Resolution Professional/Applicant) filed the application seeking …
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IBC Weekly Round Up [24th February – 2nd March 2025] Live Law – Indian Legal News
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The DMFAS Programme Advisory Group meeting provides an opportunity for donors, beneficiaries and development partners of the programme to examine its capacity-building activities in debt management and to discuss its future direction.
Participation in the DMFAS Programme Advisory Group meeting is reserved for those countries using the debt management software provided through the programme.
Registration should be completed online and is required in order to be included in the list of participants.
The DMFAS Programme Advisory Group meeting will be held with physical participation in room XIX of the Palais des Nations.
Those who cannot attend in person will be able to listen…
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BBC News, Yorkshire
Aisha Iqbal/BBCBradford Council will vote later on raising council tax by 9.9% as it faces rising costs and debts which are expected to reach £1bn by 2030.
It will also consider cuts worth £42m in the next financial year.
The BBC examines the reasons behind the council’s fiscal woes.
The council’s borrowing has been prompted by a drop in government funding which it says has seen £350m cut from its budget since 2010/11.
Last year, the authority was granted government permission to borrow more, and sell off more of its surplus land and buildings, to keep essential services running and…
