Insolvency Guardian Media Centre
Sprick the next big name on the list of insolvencies Bike Europe
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China’s Shimao drops 15% after developer receives liquidation petition Reuters
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A family-run car dealer has closed down suddenly, leading to 24 staff members being made redundant just days before Christmas.
Blackdown Motor Company has been selling cars across Somerset for more than 50 years but has now ceased trading after facing ‘extremely challenging conditions’.
Records on Companies House show that an extraordinary resolution to wind up the company was passed at a general meeting of the firm’s members just two days before Christmas, on December 23.
The official appointment of a voluntary liquidator followed last week (Jan 7), with Sonia Baigent of Assist Business Consulting Ltd placed in charge of the process.
A statement of affairs published last Friday (Jan 10) reveals that the company closed with…
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‘Non-starter’: California Democrats blast GOP’s fire trade POLITICO
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NAIROBI, Kenya, Jan 14 – The High Court has appointed Mark Gakuru as the liquidator for Countryside Dairy Limited, a move that marks a step in the company’s insolvency proceedings.
The appointment, made via Gazette Notice, took effect on November 21, 2024, under the provisions of the Insolvency Act, 2015.
According to the High Court, the company’s affairs have now been vested with the official receiver (Gakuru), who will oversee the liquidation process in accordance with the court’s order.
“The company’s affairs are vested with the Official Receiver as the Liquidator, subject to the conditions set out in the order,” read the notice in part.
This decision follows the ongoing insolvency…
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Debt consolidation and better financial management are hot topics at the start of every new year.
This is especially true for those borrowers who may have overspent during the festive season and find themselves with increased debt and higher credit card bills in January.
Tougher economic conditions, increased living costs and a higher interest rate environment have presented challenging conditions for many borrowers over the last few years, leading to increased spending and less disposable income for homeowners and businesses alike.
As we head into the new year, therefore, brokers may find themselves increasingly tasked with helping borrowers navigate financial challenges and in search of solutions to repay…
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It was viewed that there has been no change of the tenancy rights of the Appellants by way of a contract and the law which is to operate in respect of termination of tenancy are the provisions of the Act and not the Code
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) has held that eviction of tenant from the property of corporate debtor can only be sought under the Act in which tenancy was created and such power of eviction cannot be exercised by the adjudicating authority under Section 60(5) of the Insolvency Bankruptcy…
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Byju’s corporate insolvency resolution process (CIRP) disclosed important claims made by workers. These workers are demanding unpaid debts. Together, these workers—who are also operational creditors, have submitted claims totaling ₹177.5 crore. However, Pankaj Srivastava, is the selected dispute resolution professional (RP). He has only provisionally admitted a small portion of these claims₹32.56 crore.
Breakdown of Employee Claims
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Total Claims Filed: ₹177.5 crore
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Provisional Claims Accepted: ₹32.56 crore
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Claims Rejected: ₹59.87 crore
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Claims Under Verification: ₹85.06 crore
The resolution…
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In January, 1986 Dayton bookie Richard “The Skin Man” Skinner secretly recorded a conversation with Cincinnati Reds legend Pete Rose about Rose’s gambling debt to Skinner.
Dayton Daily News reporter Wes Hills obtained the recording in 2002 from U.S. District Court in Dayton after it was seized during a raid of Skinner’s home several years earlier. The Dayton Daily News reported on the tape at the time, and now has made an edited version available online.
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Pakistan
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This warning comes from Mike Pavitt, council member for the Southern and Thames Valley region of R3, the UK’s insolvency and restructuring trade body.
Mr Pavitt said: “COVID-related loan repayment difficulties have not gone away, especially with new tax burdens anticipated in the spring, and nor, it seems, has the Insolvency Service’s appetite for pursuing director disqualifications linked to them.
“My main fear for directors who have just been doing their best to service legacy COVID-related debts in difficult circumstances is that they fail to seek the right advice early enough and sleepwalk into a disqualification.”
The Insolvency Service’s latest figures reveal that in 2023/24, 68 per cent of director…
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Sen. Rounds: Tying debt limit to California aid ‘not meant as a penalty’ The Hill