Questions over Cardiff Seafood Shack restaurant closure By Jenny Johnson BBC News 17 January 2018 Image caption Darryl Kavanagh set up the Seafood Shack restaurant in Cardiff’s High Street last year A Cardiff restaurant which reportedly closed after a cyber attack in December may have become insolvent two months earlier, it has been claimed. The…
Chinas supreme court released a new interpretation of the countrys marriage law on Wednesday detailing how courts should handle debt dispute cases that usually involve divorced couples. In the document, the Supreme Peoples Court says that in cases where a loan was taken out under the name of one individual to cover costs beyond the…
Aliya Ram and Cat Rutter Pooley January 17, 2018 Pearson, the UK educational publisher, expects profits next year to be lower than in 2017 because of costs from selling parts of its business and the impact of the weaker dollar against the pound. The FTSE 100 company forecast on Wednesday that this years profits would…
A HALESOWEN man who ran up a gambling site bill for more than £1,000 on a work mobile phone has been locked up for 10 months. Allan Clarke kept ringing a telephone gambling app and also ordered £4,300 worth of power tools on the company account and sold them on, said Andrew Wilkins, prosecuting. He…
LONDON (Reuters) – Pearson said it had seen no let up in the pressures weighing on its North American business as retail partners turned increasingly cautious when ordering books, sending its shares down more than 6 percent. In a full-year trading update, Pearson said sales in U.S. higher education course materials fell 3 percent on…
Image caption Darryl Kavanagh set up the Seafood Shack restaurant in Cardiff’s High Street last year A Cardiff restaurant which reportedly closed after a cyber attack in December may have become insolvent two months earlier, it has been claimed. The Seafood Shack shut on 29 December, six months after it opened, blaming a “malicious internal”…
Resolution professionals said they had submitted their suggestions on the issue to a government panel formed to address concerns around the IBC. Photo: Mint Mumbai: Resolution professionals (RPs) appointed to manage companies taken to the bankruptcy court have sought clarity on how to proceed when these companies refuse to cooperate with them, two RPs working…
The state-backed Royal Bank of Scotland has been accused of scuppering an 11th-hour deal to save Carillion. Keith Cochrane, the interim chief executive of Carillion, has claimed that the bank took unilateral action that in the companys view undermined the groups efforts to conserve cash. He made the claim in a witness statement submitted to…
India is on the cusp of a major shift in its recovery, insolvency, and bankruptcy jurisprudence post introduction of Insolvency and Bankruptcy Code 2016 (hereafter, the Code). Several well established concepts are being challenged and at the same time, new concepts are being evolved. For instance, it is a well-known principle of law that every…
MUMBAI: Employee buyouts or participatory managements are not commonplace in India, but the model could be explored for some companies hauled before insolvency courts, where affected staff-members at units without hopes of a revival have urged tribunals to liquidate the entities as ‘going concerns.’ “There is a growing tendency among employees and workers to save…