This article was written in partnership with Daniel Woodhouse, Wouter Veugelen, Natasha Passley and Cameron Morse of FTI Consulting. 

Ransomware and data extortion attacks are unfortunately becoming increasingly common (see for example, high-profile attacks on Canva^[1], Latitude Financial^[2] and recently the Legal Practice Board of Western Australia).^[3] These attacks typically involve a party (commonly referred to as a ‘threat actor’) accessing and encrypting a company’s systems, and/or exfiltrating (stealing) personal and commercially sensitive information from the company. The threat actor then threatens to destroy the key that would otherwise decrypt the impacted system(s), and/or release the exfiltrated data publicly…

Doctors could have some of their student loan debts written off as part of a package of measures being examined by Wes Streeting that may help avert next week’s strike.

The Department of Health and Social Care is analysing how a new system of “forgiveness” could be brought in for younger doctors who are paying back student debts of up to £100,000.

The health secretary and the co-chairs of the British Medical Association (BMA) resident doctors committee are holding talks on Thursday afternoon aimed at averting the latter’s planned five-day strike starting on 25 July.

The health department is considering several different ways such a scheme might work, according to well-placed sources. They include not charging interest on debt…

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) has held that the amount paid by the co-applicant of the corporate debtor during the Corporate Insolvency Resolution Process (CIRP), from an account other than that of the corporate debtor, cannot be directed to be reversed by the Adjudicating Authority, as it does not fall under Section 43 of the Insolvency and Bankruptcy Code, 2016 (IBC).

…

Dar deliberately made false representations to fraudulently receive three loans, chief investigator at the Insolvency Service David Snasdell stated.

He added: “Instead of using this money to support his fitness business through the pandemic as intended, he diverted significant sums for personal spending.”

Dar made fraudulent applications to three banks for Bounce Back Loans during 2020 for his fitness company, the Insolvency Service said.

His first fraudulent application was for a £13,000 loan in May 2020 and in it he claimed the turnover of JDAPRT, which went into liquidation in July 2021, was £55,000.

Two days later, Dar made a second application to a different bank for £15,000, saying his company’s turnover was now £60,000.

His third…

German label paper producer Feldmuehle has been working to reorganise its business under self-administered insolvency proceedings since the end of May. Production at the paper mill in Uetersen is up and running again as of 6 June and Feldmuehle is looking for investors to ensure the future of company.…