Insolvency Guardian Media Centre
The UK government has published an update to the official guidance for employees, apprentices, subcontractors, suppliers, creditors and shareholders affected by the liquidation of construction giant Carillion
Carillion, one of the UK’s largest construction and facilities management firms, went into compulsory liquidation on 15 January 2018, leaving thousands of workers and businesses uncertain about their futures.
The Official Receiver was appointed as liquidator, with PwC acting as special managers of the 84 UK Carillion Group of Companies in liquidation (“Carillion Liquidation Companies”). The new update addressses creditors seeking to submit a claim regarding the anticipated distribution and closure of 74 UK…
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In a recent case, the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that termination of a Concession Agreement does not discharge the Corporate Debtor‘s liability to repay when such termination has no relation to the default committed by the Corporate Debtor.
The suspended director of the Corporate Debtor (CD) filed appeal to challenge the order of NCLT which allowed the application filed by the Financial Creditor (Union Bank of India) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘Code’) for initiation of the Corporate Insolvency Resolution Process against Supreme Manor Wada Bhiwandi Infrastructure Pvt. Ltd. (CD) and Sudip Bhattacharya was appointed as the Interim…
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A decrease in the monthly number of corporate insolvencies in England and Wales highlights tentative signs of recovery for the region, but business owners should prepare for significant economic challenges moving through the final quarter of 2025.
This is according to the Midlands branch of the UK’s restructuring, turnaround and insolvency trade body R3 and comes on the back of latest figures published by the Insolvency Service which show that corporate insolvencies decreased by 1.7% in August to a total of 2,048 compared to July’s total of 2,083.
R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “Corporate insolvencies may have decreased slightly in August, but we have a trend…
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Financial data paints a grim picture of defunct Lavington transport company The Border Mail
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A businessman has been disqualified after acting as a director of a company for two years while he was bankrupt. Scott Dylan was banned as a company director for eight years following a hearing at the High Court in Manchester earlier this month.
The Insolvency Service found that Dylan had acted as a director of IT consultancy SDRW Limited between July 2013 and July 2015, despite being subject to a bankruptcy order that had been in place since July 2005.
Dylan’s disqualification begins on Friday 26th September and runs through to 2033.
SDRW Limited was incorporated in July 2013, with Dylan appointed as director. The company, based in Sale, Greater Manchester, described its trading activities on Companies House as…
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FSD Africa has partnered with the UN Economic Commission for Africa and the Children’s Investment Fund Foundation on a programme to help African governments unlock fiscal space for sustainable development and climate action.
FSD Africa, the UK-backed financial sector development agency, the UN Economic Commission for Africa (UNECA), and the Children’s Investment Fund Foundation (CIFF) have launched a funded sovereign debt advisory and institutional support programme for debt management offices (DMOs) across Africa.
The aim of the programme is to support the integration…
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South Australian Multiple Sclerosis not-for-profit MS Society SA and NT has appointed voluntary administrators on Monday, citing “sustained financial pressures” as the reason for its collapse.
A federal government spokesperson said it was “the first the government has heard of them going into voluntary administration”.
“The Department of Health, Disability and Ageing will engage with MS SA and NT for further information,” she said.
The state government was also “surprised”, with a spokesperson noting the state government met with the organisation last week where it “gave no indication that a decision to go into administration was imminent”.
Administrator Heard Phillips Lieberenz announced the not-for-profit would…
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Insiders reveal how much money Higgins has News.com.au