Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Hospitality chain Selina Israel files for liquidation  Globes Read the original article here
The environmental permit for a landfill, which was forced to close following complaints of noxious fumes, "no longer exists" after
Walleys Quarry permits ‘no longer exist’ as firm enters liquidation  ENDS Report Read the original article here
A bankruptcy court in Mumbai has allowed an extension of 90 days for the revival of Lavasa Corporation in an
D-Day for Star administration decision  The Australian Read the original article here
#SHOWBIZ: HK actor Vinci Wong declared bankrupt after allegedly owing RM1.6 million  New Straits Times Read the original article here
A Nottinghamshire construction boss who fraudulently removed more than £700,000 from four failing companies and transferred the money to his
Integrated steel mill Liberty Galati in Romania (formerly Sidex), with a liquid steel capacity of 3 million tonnes, part of
Honortech Faces Insolvency Battle as AdGlobal360 Fights for Unpaid Dues  BW Legal World Read the original article here
Former pals left struggling by a Surrey property developer’s bankruptcy were furious when footage emerged of him gambling in Las
Dad gives up hope on his 'little girl', disowns her as gambling habit worsens  New Straits Times Read the original article
Deloitte says the objective is for Brindabella Christian College to emerge from administration on a sustainable financial footing. Photo: Michelle

Hospitality chain Selina Israel files for liquidation  Globes

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The environmental permit for a landfill, which was forced to close following complaints of noxious fumes, “no longer exists” after its owner entered liquidation.

The Environment Agency (EA) confirmed the permit held by Walleys Quarry Ltd, which ran Walleys Quarry in Silverdale, Staffordshire, had been “disclaimed”.

The company’s liquidation was confirmed on Friday, three months after the EA issued a closure notice forbidding the site from accepting any new waste.

Walleys Quarry Ltd has not commented since the firm entered liquidation.

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Walleys Quarry permits ‘no longer exist’ as firm enters liquidation  ENDS Report

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A bankruptcy court in Mumbai has allowed an extension of 90 days for the revival of Lavasa Corporation in an application filed by its resolution professional (RP).

The planned city project is undergoing a fresh Corporate Insolvency Resolution Process (CIRP) after the National Company Law Tribunal directed to restart the whole process after the successful bidder failed to implement the approved resolution plan within the timeline.

The company has admitted liabilities of over Rs 6,642 crore, while erstwhile successful bidder Darwin Platform Infrastructure had proposed to pay Rs 1,814 crore.

The company’s RP through its counsel informed the tribunal that substantial headway in the revival of Lavasa Corporation has already been made by…

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D-Day for Star administration decision  The Australian

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#SHOWBIZ: HK actor Vinci Wong declared bankrupt after allegedly owing RM1.6 million  New Straits Times

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England: Construction boss jailed after moving £700,000 from failing companies into own casino account

A Nottinghamshire construction boss who fraudulently removed more than £700,000 from four failing companies and transferred the money to his casino account has been jailed. 

Wesley Grainger-Smith, 66, was sentenced to two years and four months in prison at Lincoln Crown Court on Friday 28 February. 

Grainger-Smith, of Gainsborough Road, Winthorpe, had previously pleaded guilty to five counts of fraudulently removing company property at an earlier hearing. 

The Insolvency Service also discovered around £570,000 in cash deposits paid back to the companies, which investigators believe may correlate with Grainger-Smith’s claim that he paid most of the money back through his…

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Integrated steel mill Liberty Galati in Romania (formerly Sidex), with a liquid steel capacity of 3 million tonnes, part of steel group Liberty, announced on March 4 that it entered the pre-insolvency procedure “to stabilise the business, optimizing the allocation of resources and opening up new investment opportunities.”

The measure is taken in the context of geopolitical changes, new tariffs imposed by the US on steel imports (25% as of March 12), and the lack of real measures to protect the steel industry at the European Union level, the company said.

“In the current market conditions, impacted by the prolonged war in Ukraine, high energy prices and huge imports from outside the EU that have flooded Europe, as well as in the…

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Honortech Faces Insolvency Battle as AdGlobal360 Fights for Unpaid Dues  BW Legal World

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Former pals left struggling by a Surrey property developer’s bankruptcy were furious when footage emerged of him gambling in Las Vegas while their bills remained unpaid.

Thomas Alexander Ross, 44, racked up debts into the tens of millions.

Most creditors were paid nothing when bankruptcy trustees published their final report in August 2024, as the sale of his assets didn’t even cover what he owed to banks, who get first dibs on any cash raised.

So they were horrified to discover video, shot just weeks before they were told they’d get nothing, of Ross living it up in Sin City, splashing cash in the World Series of Poker (WSOP).

Ross previously lived in a £2.5m house in Claygate, Esher, had a second home in the area and owned a flat in…

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Dad gives up hope on his ‘little girl’, disowns her as gambling habit worsens  New Straits Times

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Brindabella Christian College

Deloitte says the objective is for Brindabella Christian College to emerge from administration on a sustainable financial footing. Photo: Michelle Kroll.

Brindabella Christian College has gone into voluntary administration as it faces battles on a number of fronts, including the Tax Office pursuing an $8 million debt.

Deloitte advised parents and carers in a letter that Sal Algeri and Sam Marsden were appointed Joint and Several Administrators (Administrators) today (5 March).

“We understand this may cause some concern, but we want to assure you that our key focus will be to make sure the College continues to operate on a business-as-usual basis without any disruption to student classes (to the maximum possible extent),” Deloitte…

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