Judgment creditors should be aware that the English Court of Appeal has given guidance on the proper construction of s423 Insolvency Act 1986 (transactions defrauding creditors)1. This guidance will be relevant where it is alleged that a debtor has transferred assets through corporate structures in order to defeat the claims of creditors, including judgment creditors.…
Wodens The Melrose apartment complex construction was initially impacted by PBS Building ACT going into voluntary administration. Photo: Ian Bushnell. Creditors of the five under-administration PBS Building companies have voted to wind up four companies including two construction arms in the ACT and Queensland but have given the NSW building company a lifeline. The majority…
Sponsored feature | Frank Brumby, of HCR Law, offers expert insight Frank Brumby, partner, national chairman of restructuring & insolvency, restructuring and insolvency team, HCR Law Corporate insolvency rates are high, with just over 6,300 insolvencies for the three months to June 2023. Many of these businesses will be part of a supply chain, and…
The city centre of Birmingham. [Photo/VCG] Fears grow over fate of more councils after Birmingham files for insolvency Local governments in the United Kingdom went into panic mode on Wednesday after Birmingham City Council effectively declared itself bankrupt. Authorities warned that more councils across the UK could declare themselves in financial dire straits. Birmingham City…