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.
Download CSVShow datatableNumber of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days Number of bankruptcies
Herculaneum Quay, now under the control of its investors, was the subject of a dispute between Primesite and funder Lendy
Posted on: January 12, 2021, 08:22h. Last updated on: January 12, 2021, 12:06h. Philip Conneller Read More The San Jose
Citing the need for increased scale, Birmingham-based Amherst Consulting LLC has been sold to middle-market investment bank Capstone Headwaters out
January 12, 2021 We are pleased to present a comparative guide to restructuring procedures in the UK, US, DIFC, ADGM
Civil law after Brexit European Union (EU) law no longer apply to legal proceedings involving the United Kingdom (UK) since
Sydney-based real estate developer Dyldam is now fully under administration, with HLB Mann Judd and McGrathNicol seated at either side
A Lancaster pensioner who hid thousands of pounds from a house sale after filing for bankruptcy has avoided jail. Harvey
Millions of Californians could get one of the biggest transfers of money in this countrys history as lawmakers and the
A marginal increase in corporate insolvencies was recorded in Ireland in 2020, according to the latest insolvency statistics published by
Xinja surprised shareholders and customers when it announced in mid-December it would close all bank accounts and terminate its banking
Despite the pandemic putting pressure onthe Dutch economy, 2020 saw remarkably few Dutch businesses go bankrupt. A total of 2,703

Number of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days
2017 January 336
2017 February 292
2017 March 304
2017 April 263
2017 May 281
2017 June 300
2017 July 266
2017 August 231
2017 September 237
2017 October 261
2017 November 251
2017 December 269
2018 January 273
2018 February 232
2018 March 266
2018 April 266
2018 May 259
2018 June 248
2018 July 251
2018 August 257
2018 September 224
2018 October 264
2018 November 277
2018 December 328
2019 January 286
2019 Febru…

Read the full article at: https://www.cbs.nl/en-gb/news/2021/02/fewer-bankruptcies-in-2020

Herculaneum Quay July 2020

Herculaneum Quay, now under the control of its investors, was the subject of a dispute between Primesite and funder Lendy

Neil Tague

The developer who fronted troubled Liverpool schemes including Herculaneum Quay and The Rise has been declared bankrupt in the citys County Court.

Tomlinsons name was added to the Individual Insolvency Register on 5 January, according to papers seen by Place North West. The bankruptcy order stated that the case had gone before District Judge Lampkin on the petition of creditor Lendy, which is in administration currently overseen by RSM Restructuring.

An advisor to Tomlinson told Place North West in a statement: The bankruptcy hearing comes after Mr Tomlinson personally committed to …

Read the full article at: https://www.placenorthwest.co.uk/news/primesites-kerry-tomlinson-declared-bankrupt/

Posted on: January 12, 2021, 08:22h.

Last updated on: January 12, 2021, 12:06h.

The San Jose Sharks Evander Kane has filed for Chapter 7 bankruptcy, as documents in a California court this week shed light on his prodigious gambling habit. The NHL left-winger is $26.8 million in debt, according to the court filings. He has lost $1.5 million gambling over the past month alone.

Evander Kane

The bankruptcy filing comes just days after the Centennial bank sued Kane and the Sharks in a Florida federal court, claiming the Canadian veteran owes it $8.3 million in principal and interest.

Accordin…

Read the full article at: https://www.casino.org/news/nhl-star-evander-kane-files-for-bankruptcy-owes-gambling-debts/

Citing the need for increased scale, Birmingham-based Amherst Consulting LLC has been sold to middle-market investment bank Capstone Headwaters out of Boston.

Amherst Consulting is the restructuring advisory division of Amherst Partners, a Birmingham-based financial and M&A advisory firm.

As part of the transaction that closed last Friday terms of which were not disclosed eight Amherst employees join Capstone and will be led by Sheldon Stone and Scott Eisenberg, both of whom will hold the title of managing director and are veteran Amherst executives.

The group will continue operating out of shared office space with Amherst in Birmingham.

The deal grants Amherst and its clients access to a bevy of new resources, Eisenberg told Crain’s…

Read the full article at: https://www.crainsdetroit.com/finance/amhersts-restructuring-business-sold-boston-investment-bank

January 12, 2021

We are pleased to present a comparative guide to restructuring procedures in the UK, US, DIFC, ADGM and UAE.

The easy-to-use comparative guide is organised by key aspects of the restructuring processes and compares and contrasts the selected restructuring regimes in each jurisdiction so that the reader can easily identify the differences.

The comparative guide will be particularly relevant for clients operating in the UAE who may be considering restructuring options in the current market conditions.

Comparative Guide to Restructuring Procedures in the UK, US, DIFC, ADGM and UAE


For further information, please contact the Gibson Dunn lawyer with whom you usually work, or the following authors, with any questions, though…

Read the full article at: https://www.gibsondunn.com/comparative-guide-to-restructuring-procedures-in-the-uk-us-difc-adgm-and-uae/

European Union (EU) law no longer apply to legal proceedings involving the United Kingdom (UK) since the current transition period came to an end on 31 December 2020.

This will have an impact on proceedings in this jurisdiction where there is a UK component – for example, a UK resident who is suing an Irish resident, or a UK resident seeking enforcement of a decision in this jurisdiction. It will also impact on Irish residents who are pursuing proceedings in the UK.

Co-operation with the UK in the civil justice area can be divided into four broad areas covering:

  • international jurisdiction and recognition and enforcement of judgments based upon such jurisdiction rules
  • applicable law rules
  • judicial coope…

    Read the full article at: https://www.gov.ie/en/publication/e2da1-civil-and-commercial-matters/

    Sydney-based real estate developer Dyldam is now fully under administration, with HLB Mann Judd and McGrathNicol seated at either side of the table. HLB Mann Judd is managing the voluntary administration process while McGrathNicol is protecting creditor interests.

    Setting the context: Dyldams financial struggles began in early 2019, as reported by the Australian Financial Review (AFR). By May 2020, Dyldam-owned Rainbow Calingford One was in liquidation for tax defaults of nearly $1 million. By November, one of Dyldams lenders Global Galaxy Holdings III had appointed receivers to manage the sale of a mammoth building site earmarked for over 1,300 apartments.

    Dyldam went into voluntary administration on December 31st, under the charge o…

    Read the full article at: https://www.consultancy.com.au/news/2864/hlb-and-mcgrathnicol-working-on-dyldams-administration

    A Lancaster pensioner who hid thousands of pounds from a house sale after filing for bankruptcy has avoided jail.

    Harvey Tudor of Brookhouse, Lancaster, failed to inform the Official Receiver that he had sold a property in Kirkby Stephen, contradicting the laws around bankruptcy.

    74-year-old Tudor had been declared legally bankrupt in 2014 but continued to flout bankruptcy restrictions when he failed to tell receivers that he had received 59,000 for the sale of his home in Cumbria.

    Appearing before District Judge Garland at Preston Magistrates on Wednesday (January 6), for sentencing, Tudor was told that he had made a “big mistake.”

    Julie Barnes, chief investigator at the Insolvency Service, said: “Harvey Tudor knew his legal obligatio…

    Read the full article at: https://www.lancs.live/news/lancashire-news/bankrupt-lancaster-pensioner-hid-59k-19607538

    Millions of Californians could get one of the biggest transfers of money in this countrys history as lawmakers and the incoming president duel over competing plans to rid the nation of ten of billions of dollars in student debt.

    If President-elect Joe Biden follows through with his campaign promise to forgive $10,000 in federal student debt, as many as 1.3 million Californians could see the balance on their federal college loans totally wiped out.

    The plan, which would make good on a once fringe progressive goal of student forgiveness thats gone mainstream in the past five years, would benefit a total of roughly 3.9 million Californians who combined owe $140 billion in federal loans used to pay for college.

    But a chorus of Congressional…

    Read the full article at: https://lostcoastoutpost.com/2021/jan/12/bidens-debt-forgiveness-plan-would-help-millions-o/

    A marginal increase in corporate insolvencies was recorded in Ireland in 2020, according to the latest insolvency statistics published by Deloitte.

    The total number of corporate insolvencies recorded in Ireland in 2020 was 575, representing a marginal increase of just 1% from 2019, when the total number recorded was 568.

    Commenting on the figures, David Van Dessel, Partner, Financial Advisory at Deloitte said despite the adverse financial impact of Covid-19 on many sectors of the Irish economy, overall corporate insolvency levels in 2020 have remained in line with those recorded for 2019.

    He said this can be explained by a number of factors.

    “The Irish government has deployed a broad range of measures to support struggling companies and…

    Read the full article at: https://www.rte.ie/news/business/2021/0112/1189211-marginal-increase-for-corporate-insolvencies-in-2020/

    Xinja surprised shareholders and customers when it announced in mid-December it would close all bank accounts and terminate its banking license. The neobank had promised to shake-up the banking industry and blamed COVID-19 and a tough capital raising environment for the decision.

    However, The Age and Herald revealed the bank had pinned all hopes on a $433 million lifeline payment that ultimately never came through.

    Loading

    The New Year’s Eve email said Xinja staff had been made redundant and the return of deposits was on track but directors struggled to provide clear answers to frequently asked questions such as, “Will Xinja continue as a non-bank?” and “Will Xinja shares be worth anything?”

    Xinja said it had not been successful in “s…

    Read the full article at: https://www.smh.com.au/business/banking-and-finance/xinja-investors-told-shares-worth-close-to-or-actually-zero-20210111-p56t89.html

    Despite the pandemic putting pressure onthe Dutch economy, 2020 saw remarkably few Dutch businesses go bankrupt. A total of 2,703 companies were declared bankrupt last year, 16 percent less than in 2019 and the lowest number since 1991, Statistics Netherlands reported on Tuesday.

    The stats office attributed the low number of bankruptcies to the coronavirus support measures the government put in place to help businesses survive the pandemic and its accompanying lockdowns. These support measures also stabilized companies that may have collapsed if there had been no pandemic and no support.

    The number of bankruptcies decreased in most industries. In absolute numbers, the decrease was strongest in trade – the industry with the most business…

    Read the full article at: https://nltimes.nl/2021/01/12/nl-sees-fewest-bankruptcies-since-1991-despite-pandemic

Go to Top Call Now Button