The long-anticipated rise of corporate restructurings and insolvencies is afoot, as vaccine programmes across the globe are allowing society to open up and government support to be unwound. The ability of zombie companies to plod along courtesy of the coffers of the state is dissipating.Global Investigations and Recoveries Limited was wound up in the public interest in the High Court on 17 May 2021 before DDJ Watkin. The Official Receiver has been appointed liquidator of the company.
During the proceedings, the court heard that Global Investigations and Recoveries was incorporated in April 2019, with registered offices in Nottingham.
The company contacted businesses who were creditors of insolvent companies, offering that it could recover debts from the director directly and outside of statutory liquidation proceedings.
Global Investigations and Recoveries, however, came to the attention of the Insolvency Service after receiving complaints that the company was operating contrary to insolvency legislation.
Followin…
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Without expressly saying so, the changes now proposed amount to an implied admission that some of Crowns practices some quite recent are inconsistent with the responsible service of gaming … It would be open for the commission to conclude that Crowns various failures to implement the code are serious and persistent, he said.
The silk added that Crown had had the ability, money [and] technology needed to improve its responsible gaming measures for some time, but that motivation may have been lacking until the royal commission forced its hand.
Minimising harm
It follows revelations in the royal commission last month that Crowns bank accounts were still facilitating money laundering as recently as February, as experts suggested the com…
Read the full article at: https://www.afr.com/companies/games-and-wagering/grossly-inadequate-inquiry-slams-crown-s-responsible-gaming-program-20210601-p57x00
Firm accelerates expansion with completion of the acquisition of Deloitte’s UK Restructuring Services business
NEW YORK and LONDON, June 1, 2021 /PRNewswire/ — Teneo, the global CEO advisory firm, today announced the latest phase of its ongoing expansion by launching a global Restructuring business following the completion of its acquisition of the Restructuring Services business of Deloitte UK.
Teneo’s new Restructuring business will comprise more than 300 specialists across Europe and the U.S., focused on four key service areas including business transformation, restructuring, capital advisory and bankruptcy & insolvency. The business will reinforce Teneo’s differentiated market presence by combining the restructuring advisory off…
Read the full article at: https://finance.yahoo.com/news/teneo-launches-global-restructuring-business-070000476.html
Bilshan Nursimulu of 5 Fifteen Barristers considers the Mauritius-based disputes that can arise from offs…
Bilshan Nursimulu of 5 Fifteen Barristers considers the Mauritius-based disputes that can arise from offshore investments, particularly where debt is involved.
Mauritius is home to offshore companies with total assets that amounted to USD 582 billion as at 31 December 2019. Most of these assets are located outside of the jurisdiction. The Financial Services Commissions annual statistical bulletin shows that as at June 2020, about 43% of these companies outward direct investment was made in India, followed by the United Kingdom and Singapore (8% and 7% respectively), and a non-negligible 13% spread across 40 African countries. …
Read the full article at: https://iclg.com/cdr/litigation/16195-mauritius-roadmap-to-enforcing-claims-against-offshore-companies
Ms Holt, aware that Oroton is yet to fully shed its former reputation as corporate and somewhat staid, was candid in her hopes for the show: I worry that Oroton is not the edgiest, sexiest brand, which is what is normally on display at Fashion Week.
Ive given it my best shot but who knows what it will look like? Its clothes women can wear every day. Is that good enough for Fashion Week? I dont know.
It was an assured debut on the runway, keenly tuning into the resort theme that Australian Fashion Week is known for, with a sense that an adult was firmly in the room. Utility and minimalism were the order of the day, capturing a relaxed, languid vision of the Australian summer while somehow elevating it, too.
Watching was owner Will Vicars…
Read the full article at: https://www.afr.com/life-and-luxury/fashion-and-style/a-designer-for-30-years-sophie-holt-stages-her-first-runway-show-20210601-p57x0c
The North Australia Cattle Company, once one of Australias largest live cattle exporters, has been placed into voluntary administration, with debts owed to trade creditors of approximately $3.6 million.
Notices of the appointment of administrators to North Australian Cattle Company Pty Ltd and its sister company Southern Australian Cattle Company Pty Ltd were published on the Australian Securities Investment Commission website yesterday, Monday, May 31.
Administrators Melissa Lau and Jimmy Trpcevski were appointed to manage NACC and SACC yesterday under section 436A of the Corporations Act which occurs in the event of a company board resolving a company is insolvent or likely to become insolvent at a future time.
In a statement to Beef …
Read the full article at: https://www.beefcentral.com/live-export/north-australia-cattle-company-goes-into-voluntary-administration/