The number of corporate insolvencies recorded in the first six months of the year was down 38% compared to the first half of 2020, according to new figures from Deloitte. 169 corporate insolvencies were recorded between January and June, compared to 273 during the same period last year. In the second quarter of this year,…
The Autocare Services business unit has returned to LINX Cargo Care Group. This development follows Autocare Services exiting voluntary administration on 1 July 2021. The Voluntary Administration process for Autocare Services has completed following the implementation and effectuation of its creditor-endorsed Deed of Company Arrangement (DOCA) proposed by LINX CCG. The end of this process…
Diageo has challenged an order of Indias Prevention of Money Laundering Act court, which permitted the sale of assets seized from Vijay Mallya to repay a consortium of banks some of the 1.15 billion they claim he owes to them. (Photo: Wiki) Last month the Indian courts allowed the sale of shares Mallya held in…
Exeter Crown Court sentenced James Prentice, 41, from Kingsbridge in South Devon, to six months imprisonment suspended for two years, and 150 hours of unpaid work. He was also ordered to pay compensation of 4,500 to his victims after the prosecrtuin brought by the Insolvency Service. The court heard that Prentice was declared bankrupt in…
The authors are analysts of NH Investment & Securities. They can be reached [email protected] [email protected], respectively. — Ed. During the Sep 2020 parliamentary inspection of government, the issue of electricity market restructuring was brought up, including a focus on the need for adjustment regarding the consolidation and abolition of KEPCOs power generation subsidiaries. Given conflicts…
Date: 05.07.2021 Deed of company agreement gains creditor endorsement Simon Abela Car carrierAutocareServicesreturnsto parent company Linx Cargo Care Group, havingexitedvoluntary administration on July 1, the latter announces. It re-joins with a new operating model,leadershipteam, property footprint and structure that “places the business on sustainable footing into the future”, Linx notes in a statement. “TheVoluntary Administration…
A group of anonymous Maltese investors, who last week reportedly forked out 500,000 to save the Sicilian football club Calcio Catania from bankruptcy, are currently discussing the possibility of buying into the same club despite the embattled Serie C teams reported 65 million debt. While the Calcio Catania administration has failed to disclose the identity…