Insolvency Guardian Media Centre
A Members Voluntary Liquidation (MVL) is the formal process taken to wind up the affairs of a solvent company.
A solvent company is one that has more assets than liabilities and can therefore pay off all its debts. This process involves directors, shareholders, and a licensed insolvency practitioner working together through the liquidation process and ensuring legal requirements are met. Whilst it may be possible to distribute funds to shareholders and have the company dissolved without an MVL, it is often beneficial to enter into an MVL to maximise tax advantages for the company and the shareholders
The company directors are responsible for issuing a declaration of solvency, which confirms that the company can settle its debts within a…
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BEIJING (Sept 12): China’s fiscal policy has ample room, the government’s debt ratio remains “reasonable” and risks are controllable, Finance Minister Lan Foan said on Friday, pledging a more flexible fiscal push to shore up economic growth.
The world’s second-largest economy has been hobbled by persistently weak domestic demand, a multi-year property crisis and mounting US trade pressure. Exports slowed in August as the boost from a US tariff truce faded, fuelling calls for more stimulus.
“Fiscal policy…always keeps contingency measures in reserve and there remains ample room for stronger fiscal support in the future,” Lan said at a press conference in Beijing.
“Next, the Finance Ministry will continue to maintain policy…
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China says fiscal support will remain flexible, debt ratio stays reasonable Reuters
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RH CEO Says Furniture Sellers Will Go Bust Without Discounts Bloomberg.com
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REVEALED: Latest business liquidations in Monash Herald Sun
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Some described Mosaic as a “predator”. Omar Chowdhury, managing director of Bangladeshi garment manufacturer Hydroxide Knitwear, said some factory workers were on the verge of suicide.
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In a report to creditors, FTI Consulting suspected that the company may have been trading unlawfully and directors could be potentially liable for breaches of duty.
However, the liquidators said further funding was required to properly investigate and pursue these findings, which never emerged.
“Our preliminary view is the Mosaic Group was likely insolvent as at 31 December 2020 and remained so up until the time of our appointment on 28 October 2024,” FTI Consulting’s second report to creditors said.
One or more company directors may have…
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Sports Forum 21 urges government action on youth illegal gambling crisis 조선일보
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There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.
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Receivers hunt for missing cars amid $5.7m Vehicle Direct collapse BusinessDesk | NZ
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Council tax has been in the news recently, with speculation that the chancellor may decide to make sweeping reforms. This may be driven as much by fiscal pressure as by the desire to recalibrate an unloved and outdated system. But aside from its structural problems, council tax is also a massive contributor to problem debt in the UK – so it’s something we, as the largest provider of debt advice and solutions, are seeking to address.
Among the people who turn to StepChange for help with debt, over a third have council tax arrears. The typical amount they owe is over £2,000, and it’s a postcode lottery in terms of the levels of financial support or reductions given by their local authority based on their circumstances. This…