TMA submissions on corporate insolvency in Australia Herbert Smith Freehills
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BBCFollowing Nottingham City Council’s declaration of effective bankruptcy, the BBC looks at what the issuing of a section 114 notice means for the authority, and the 330,000 people who live in the city.
While a council cannot technically go bankrupt, the declaration of a section 114 notice is as close as it can come – an admission the authority cannot balance its books.
Effectively, the authority’s chief financial officer, Ross Brown, has said its spending will outstrip its income in this financial year.
The section 114 notice means the council has…
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Australia’s toll of failed construction industry businesses will climb further, data company CreditorWatch warned on Wednesday after a high-end home renovations business went into liquidation leaving 95 customers stranded, some without insurance policies the director was required to arrange before accepting money.
Ultimate Kitchens & Bathrooms went into liquidation owing unsecured creditors more than $4.6 million and it may have breached conditions of his operating licence by accepting deposits without having valid insurance cover, liquidator Stephen Michell said this week in a public report.
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How Oberweis, and others, went bankrupt: Crain’s Daily Gist podcast Crain’s Chicago Business
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WA shires left in the lurch as airline goes into voluntary administration Farm Weekly
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Burnley defender Charlie Taylor has been declared bankrupt due to unpaid bills. The 30-year-old left-back, who earns around £30,000-a-week at Turf Moor, is understood to have been issued with a bankruptcy order last year and is in the process of having it annulled.
Taylor declined…
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Cape York space centre boss’ consulting business goes bust The Cairns Post
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A number of local councils in England, including Birmingham, Nottingham and Croydon, have effectively declared themselves “bankrupt” in recent years, and many more are at risk. A decade of cuts to local authority budgets and increasing demands on services such as social care are forcing councils to make difficult financial decisions. But it’s not just inner-city councils in low-income areas whose threadbare services are overwhelmed.
Last year we published a report on the rising, yet often hidden, problem of rural homelessness. Our findings show how cuts to local funding and services are affecting people and driving a rise in homelessness in the countryside.
We surveyed 157 housing professionals in local authorities across…
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Efforts to save long-time Penrith business Cubitt’s Granny Flats and Home Extensions have failed.
After 30 years, the family owned business has been formally placed into liquidation by creditors.
As previously reported by the Weekender, the business was placed into voluntary administration in February.
There is some bright news for clients impacted by the collapse of the company, with administrators RSM Australia advising more than 30 creditors who attended a meeting last Friday that NSW-based construction firm Acrow Homes Pty Ltd had purchased Cubitt’s business names, intellectual property, project records, and exclusive rights to
its customer list.
Administrator and RSM Australia Partner…
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A FORMER Rugby World Cup winner and ex-England captain has been declared bankrupt – and his company has gone into liquidation.
Phil Vickery, who was part of the country’s triumphant Rugby World Cup winning team, has racked up “hundreds of thousands of pounds” in debt, a source claimed.
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Documents show the 48-year-old former tighthead prop owed his consultancy company nearly £100,000 before it went into liquidation in December last year.
Vickery then declared himself bankrupt…
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Winding-up orders were made against Crown Agents Limited and Greenshields Cowie & Co. Limited on 1 August 2024.
The court appointed the Official Receiver, Gareth Jonathan Allen, as liquidator of:
On 5 August 2024, Benjamin Wiles and Robert Goodhew of Kroll Advisory Ltd, The Shard, 32 London Bridge Street, London, SE1 9SG replaced the Official Receiver as liquidator of Crown Agents Ltd. The joint liquidators will wind-down Crown Agents Limited in accordance with their statutory duties.
The Official Receiver will wind-down Greenshields Cowie & Co Limited in accordance with his statutory duties. The Official Receiver will also inquire into the cause of the companies’ failure and conduct of the current and former directors of both…
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Former Manchester United star Wes Brown has broken his silence after being declared bankrupt last year.
The 44-year-old, who made more than 300 Premier League appearances during a career which spanned over two decades, lost millions after hanging up his boots.
HMRC filed a bankruptcy petition against Brown last February and the petition was rubber-stamped at the High Court two months later.
The former England international has now had his say on where things went wrong, admitting he did not have the “right people” around him at a young age.
“When you are making a lot of money, you need the right people,” Brown told the Ben Heath Podcast.
