Chelsea owner Roman Abramovich is to sue the Australian arm of HarperCollins over claims he bought the club on the orders of Vladimir Putin.

The allegations are made in Catherine Beltons book Putins People: How the KGB took back Russia and then took the Wes…

Read the full article at: https://www.dailymail.co.uk/news/article-9737395/Chelsea-boss-Roman-Abramovich-sues-authors-claims-bought-club-Putins-orders.html

A bankrupt former multimillionaire died of a heroin overdose in a five-star Dubai hotel after struggling with a drug addiction for years.

The businessman, 42, was also jailed in 2019 for crashing his 140k Porsche into a tree while high on cocaine in Worthing, West Sussex.

Martin Skinners addiction to the Class A drug and the incident resulted in him being declared bankrupt after losing his 500 million property firms Inspire Asset Management and Inspired Developments London, a coroner heard.

The father-of-one from Chelsea, west London, was found dead at the Grand Plaza Mvenpick Media City in Dubai on May 11, the West London Coroners Court heard.

Mr Skinner’s former partner Magdalena said in a statement: “Martin was an ambitious and sma…

Read the full article at: https://www.mylondon.news/news/west-london-news/bankrupt-500m-businessman-chelsea-dies-20925951

Law360, London (June 28, 2021, 1:46 PM BST) — People who use pensions advice companies could be in line for compensation after the Financial Conduct Authority urged them to complain if they believe they have been given poor guidance, a consumer group has said.

Which? said that clients of advisors that have collapsed could win up to 85,000 ($118,000) each from the country’s financial services lifeboat if they could prove they lost money after receiving bad advice.

Sunday’s warning came after the Financial Conduct Authority sent letters this month to 2,677 former customers of pension advice companies that were declared insolvent in 2020, urging them to check whether they had…

Read the full article at: https://www.law360.com/articles/1398038/fca-warning-on-pension-advice-could-see-1-000s-get-payout

Hurricane Energy, the oil and gas producer once considered a bright hope for the UK North Sea, has failed to push through a controversial financial restructuring that would have virtually wiped out its shareholders.

The UKs High Court ruled on Monday it would not sanction the plan, which would have handed control to Hurricanes bondholders in exchange for forgiving $50m of debt and extending the maturity date on a further $180m of bonds due to be repaid in July next year.

The plan had been extremely unpopular with shareholders, including activist fund Crystal Amber, Hurricanes second-largest investor with a stake of more than 11 per cent.

However, management led by chief executive Antony Maris had argued it was a necessary step to secur…

Read the full article at: https://www.ft.com/content/789dc4e3-e68f-4469-a1cb-af0906d85c29

A lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least, the widespread introduction of administration under the Enterprise Act in 2003. The Act was brought into law very quickly to bring abount changes seen as necessary to support struggling businesses as they deal with the economic fallout from Covid-19. It should be noted, however, that many of the changes are permanent rather than temporary in nature and they will transform t…

Read the full article at: https://www.jdsupra.com/legalnews/the-corporate-insolvency-and-governance-1811167/

The Mumbai chapter of the National Company Law Tribunal (NCLT) ordered the liquidation of Nakshatra World, a subsidiary of

, one of the group companies promoted by fugitive businessman Mehul Choksi.

The ruling came on an insolvency petition ICICI Bank filed around two years ago against the company, which was also allegedly involved in a money laundering case reported at the

. The court appointed Santanu Ray, a partner from Delhi-based AAA Insolvency Professionals LLP as the liquidator.

In view of the decision of the CoC, we are inclined to initiate liquidation process against the Corporate Debtor, the dedicated insolvency court said in an order released on Sunday. Accordingly, the Adjudicating Authority Orders for initiation of Liquidati…

Read the full article at: https://economictimes.indiatimes.com/news/india/nclt-orders-wind-up-nakshatra-world-a-mehul-choksi-companies/articleshow/83925339.cms

Law360, London (June 28, 2021, 1:46 PM BST) — People who use pensions advice companies could be in line for compensation after the Financial Conduct Authority urged them to complain if they believe they have been given poor guidance, a consumer group has said.

Which? said that clients of advisors that have collapsed could win up to 85,000 ($118,000) each from the country’s financial services lifeboat if they could prove they lost money after receiving bad advice.

Sunday’s warning came after the Financial Conduct Authority sent letters this month to 2,677 former customers of pension advice companies that were declared insolvent in 2020, urging them to check whether they had…

Read the full article at: https://www.law360.com/insurance-uk/articles/1398038/fca-warning-on-pension-advice-could-see-1-000s-get-payout

Few leadership manuals cover the task of taking charge of a global business at the bottom of a cycle during a pandemic that has devastated core markets.

In that environment, even basic logistics are challenging in a way that would have been unimaginable in pre-crisis times.

For recently appointed Swissport International chief executive Warwick Brady, travel and social-distancing restrictions meant he was four weeks into his tenure before meeting his new colleagues in Zurich following a recruitment process that involved no face-to-face interaction.

But while nearly everything been made more difficult by the pandemic, Brady tells FlightGlobal during a June interview that his new employers are on the right path.

Crucially, the business ha…

Read the full article at: https://www.flightglobal.com/strategy/swissport-chief-warwick-brady-outlines-ambitions-for-restructured-handling-giant/144290.article

Power-generating windmill turbines are pictured in Suzlon wind farm at Sanodar village, west of the Indian city of Ahmedabad, September 8, 2009. REUTERS/Amit Dave