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.
Thursday, February 14, 2019 There has always been a tension between protecting the interests of defined benefit pension schemes and
In 2012, Dutch entrepreneur Bas Lansdorp launched the worlds first private and crowdsourced-effort to create a permanent outpost on Mars.
Cleaning Up on ITV concluded last night on ITV. For the past six weeks, viewers have been following the story
Business rescue practitioners for financially distressed Esor Construction said on Thursday that the company can be saved. BDO Business Restructurings
Australians were addicted to debt. Now were breaking the addiction. The new question is whether we can survive the withdrawal
Sub: Implementation of the Resolution Plan / Capital ReductionThis is in continuation of our earlier intimation dated 05th February 2019
Husband and wife, Dawn and Jacob Goulde, of Hatch End, North West London, were the directors of London and Berkshire
Husband and wife, Dawn and Jacob Goulde, of Hatch End, North West London, were the directors of London and Berkshire
A CONCRETER claims he is owed $41,000 by a Gold Coast shed building business that has gone into liquidation twice.
Stuart McDonald (37), of Dyce, Aberdeen, was the solely appointed director of Northern Motors (Aberdeen) Limited from September 2013 having
Sub: Supervision of the Resolution PlanThis is in continuation of our earlier intimation dated 05th February 2019 regarding resolution plan
Stuart McDonald (37), of Dyce, Aberdeen, was the solely appointed director of Northern Motors (Aberdeen) Limited from September 2013 having

There has always been a tension between protecting the interests of defined benefit pension schemes and insolvency given on the one hand The Pensions Regulator (TPR) seeks to protect the interests of pension scheme members and the Pension Protection Fund and on the other, the insolvency regime seeks to protect the interests of creditors as a whole.

We published an article in July 2018 reporting on a consultation paper issued by The Department for Work and Pensions. In that, we highlighted our concerns about proposed changes to the notifiable events framework and the impact that increasing TPRs powers might have on the insolvenc…

Read the full article at: https://www.natlawreview.com/article/pensions-versus-insolvency-changes-to-pension-regulator-s-powers

In 2012, Dutch entrepreneur Bas Lansdorp launched the worlds first private and crowdsourced-effort to create a permanent outpost on Mars. Known as Mars One, this organization was the focus of a lot of press since its inception, some of it good, most of it bad. While there were many who called the organizations plan a suicide mission or a scam, others invested their time, energy, and expertise to help make it happen.

In addition, thousands of volunteers signed on for the adventure, willing to risk life and limb to become part of the first one-way trip to the Red Planet. Unfortunately, we may never get to know if Bas Lansdorps plan for colonizing Mars was feasible or even sincere. According to a recent declaration by a Swiss Court, Mars O…

Read the full article at: https://www.universetoday.com/141499/mars-one-the-plan-to-make-a-reality-show-on-mars-is-bankrupt/

Cleaning Up on ITV concluded last night on ITV. For the past six weeks, viewers have been following the story of working-class single-mother Sam (played by Sheridan Smith) who suffered from a gambling addiction. Not only that, Sam got herself into illegal waters by participating in insider trading. So how did the series come to an end? Heres everything you need to know.

How did Cleaning up end?

Cleaning Up, the final episode aired last night (Wednesday, February 13) on ITV.

Dont worry, if you happened to miss the episode or Cleaning Up entirely, it is available to stream via the ITV Hub now.

Thankfully, Cleaning Up was a happy ending for Sam after all.

Throughout the series, Sam constantly found herself in a huge financial mess, gambling away…

Read the full article at: https://www.express.co.uk/showbiz/tv-radio/1087320/Cleaning-Up-on-ITV-finale-recap-ending-explained-episode-6-how-did-Cleaning-Up-end

Business rescue practitioners for financially distressed Esor Construction said on Thursday that the company can be saved.

BDO Business Restructurings optimism revives hope that the civil engineering and construction firm, which went into business rescue in August 2018, can be brought back to life as a going concern.

The business rescue practitioners are still of the view that there is a reasonable prospect of developing and implementing a business rescue plan for the company that will ensure that, on acceptance of the plan, it will continue in existence on a solvent basis, Esor said in a statement.

But it said the companys revival requires the re-organisation of its finances and an arrangement …

Read the full article at: https://www.businesslive.co.za/bd/companies/2019-02-14-esor-can-be-saved-say-business-rescue-practitioners/

Australians were addicted to debt. Now were breaking the addiction. The new question is whether we can survive the withdrawal symptoms.

Australians are reducing debt in many places. We are cutting the value of loans but also the number of them. We are borrowing less for investment housing but also for owner-occupier. Were limiting housing debt and also personal debt. This is wide-scale change.

Australias household debt levels got worryingly high. We have $1.8 trillion in housing debt, and it has been rising fast. So a bit of caution is good news. But going cold turkey on debt is concerning too.

We divide the economy up into three parts households, government and business. Government and business debt are not especially high at the moment….

Read the full article at: https://www.news.com.au/finance/economy/australian-economy/australias-18-trillion-ticking-time-bomb/news-story/24a0e6bc727525dd95d6d835e5b4fbe3

Sub: Implementation of the Resolution Plan / Capital Reduction

This is in continuation of our earlier intimation dated 05th February 2019 regarding resolution plan which was approved by NCLT, Chennai vide its order dated 01st February 2019 under the Provisions of IBC, 2016.

Pursuant to the Resolution Plan a capital reduction is proposed and the capital of the fully paid up equity shareholders shall be reduced to 10% and consequently the existing 2.36 Crores number of shares shall be reduced to 0.236 Crores.

The Stock exchanges will be intimated in due course for effecting capital reduction.

This is for your information and record.

Pdf Link:
Bafna Pharmaceuticals Ltd. – Corporate Insolvency Resolution Process (CIRP)-Updates – Corporate Ins…

Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/bafna-pharmaceuticals-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article26268368.ece

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Husband and wife, Dawn and Jacob Goulde, of Hatch End, North West London, were the directors of London and Berkshire Limited. Incorporated in August 2009, the company was concerned with property valuation and surveying.

Just six years later, however, London and Berkshire was shut down by the courts in June 2015 following a petition by the tax authorities to wind-up the company.

The Official Receiver was appointed by the court to undertake the liquidation, as well as carry out investigations into why the company failed and the conduct of the directors.

Investigations established that Dawn and Jacob had personally benefited from payments taken out of the companys bank accounts of at least 182,000. The payments were made between …

Read the full article at: https://www.miragenews.com/property-bosses-to-pay-thousands-after-abusing-company-accounts/

Husband and wife, Dawn and Jacob Goulde, of Hatch End, North West London, were the directors of London and Berkshire Limited. Incorporated in August 2009, the company was concerned with property valuation and surveying.

Just six years later, however, London and Berkshire was shut down by the courts in June 2015 following a petition by the tax authorities to wind-up the company.

The Official Receiver was appointed by the court to undertake the liquidation, as well as carry out investigations into why the company failed and the conduct of the directors.

Investigations established that Dawn and Jacob had personally benefited from payments taken out of the companys bank accounts of at least 182,000. The payments were made between January…

Read the full article at: https://www.gov.uk/government/news/property-bosses-to-pay-thousands-after-abusing-company-accounts

A CONCRETER claims he is owed $41,000 by a Gold Coast shed building business that has gone into liquidation twice.

Redland tradie Jason Quick says he is still chasing payment for dozens of slabs he put down for the Jacobs Well firm, Queensland Shed Market.

Mr Quick had been working for the company for four months in May 2018, laying slabs for the sheds in the Gold Coast, Logan and Beaudesert region.

“I did about 15-20 jobs all up and then all of a sudden we stopped hearing back,” Mr Quick said.

After non-payment of his invoices in October, Mr Quick said he tried to contact the company and was promised payment if he continued his work.

“When I realised I was not going to get paid I went straight to the owners of all the …

Read the full article at: https://www.themorningbulletin.com.au/news/twice-liquidated-shed-company-still-operating/3647323/

Stuart McDonald (37), of Dyce, Aberdeen, was the solely appointed director of Northern Motors (Aberdeen) Limited from September 2013 having first been appointed a joint director in June 2007.

Incorporated in 2006, Northern Motors traded as a car dealership in Dyce, Aberdeen while also offering repair and maintenance services.

But 10 years later, Northern Motors ceased to trade in August 2016 shortly after an Enforcement Order was granted to Aberdeen Trading Standards (ATS) against the company in connection with several breaches of the Enterprise Act 2002.

The Enforcement Order required Stuart McDonald to stop acting against the interest of customers and was granted in connection with complaints about Northern Motors received by Aberd…

Read the full article at: https://www.gov.uk/government/news/aberdeen-car-dealer-banned-for-seven-years

Sub: Supervision of the Resolution Plan

This is in continuation of our earlier intimation dated 05th February 2019 regarding resolution plan which was approved by NCLT, Chennai vide its order dated 01st February 2019 under the Provisions of IBC, 2016.

Pursuant to the Resolution Plan a Monitoring Committee has been formed with the following members / representatives:
Mr. Radhakrishnan Dharmarajan
Mr. Spurgen David – Representative from SBI
Mr. Nagabhusanam – Representative from IDBI
Mr. M. Sridhar and Ms. S. Hemalatha – Representatives from Corporate Debtor

Pdf Link:
Bafna Pharmaceuticals Ltd. – Corporate Insolvency Resolution Process (CIRP)-Updates – Corporate Insolvency Resolution Process (CIRP)

Source : BSE – www.bseindia.com

Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/bafna-pharmaceuticals-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article26268367.ece

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Stuart McDonald (37), of Dyce, Aberdeen, was the solely appointed director of Northern Motors (Aberdeen) Limited from September 2013 having first been appointed a joint director in June 2007.

Incorporated in 2006, Northern Motors traded as a car dealership in Dyce, Aberdeen while also offering repair and maintenance services.

But 10 years later, Northern Motors ceased to trade in August 2016 shortly after an Enforcement Order was granted to Aberdeen Trading Standards (ATS) against the company in connection with several breaches of the Enterprise Act 2002.

The Enforcement Order required Stuart McDonald to stop acting against the interest of customers and was granted in connection with complaints about Northern Motors received b…

Read the full article at: https://www.miragenews.com/aberdeen-car-dealer-banned-for-seven-years/

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