Just days after Watchmaster was caught up in a massive security box heist and robbed of watches worth in the region of 10 million, the business has declared itself insolvent. A letter sent to customers by the company, and seen by WATCHPRO, says its has appointed an insolvency administrator, Philipp Hacklander, who will take on…
Croydon Council has declared bankruptcy for the third time in two years. Photo by Dan Kitwood/Getty Images. Last week, for the third time in two years, the Conservative-led Croydon council in south London declared bankruptcy. And this week another Conservative-led council, Thurrock in Essex, is in the news after admitting that ill-thought through investments have…
Beijing Borgward, once billed as a rival to BMW, Mercedes-Benz and Audi, officially declared bankruptcy on November 29. The announcement explained that it was drained to pay off its outstanding debts but its current assets are not enough to settle the outstanding balances. Founded in 1919, Borgward was once Germanys third largest car manufacturer. Back…
Effective Ventures Foundation files the report to the Charity Commission following the collapse of the US firm FTX A UK charity has filed a serious incident report with the Charity Commission after one of its backers went bankrupt last month. The Charity Commission told CNBC that Effective Ventures Foundation filed the report related to the…
Vivarails first train to enter service was the diesel-powered Class 230. Three are in use on the Bedford-Bletchley regional route in southern England. Set 230 005 is shown not long after introduction in May 2019. Keith Fender SOUTHAM, England Vivarail, the British passenger train re-manufacturing company majority-owned by Pittsburgh-based Railroad Development Corp., has announced it…
A debt fund has persuaded the Supreme Court to hear its appeal against approval for a personal insolvency arrangement (PIA) allowing a man to keep his 1.8 million farming assets. Promontoria (Oyster) DACs appeal relates to the personal insolvency arrangement of Co. Wexford-based Fergus OConnor (47), who had debts totalling 1.1 million. It is understood…
Abhaile Scheme to be extended until the end of 2023 Over 19,300 households at risk of losing their home have been supported to date Minister Humphreys: Rising Cost of Living a key factor in decision The Minister for Social Protection and Minister for Justice, Heather Humphreys TD, has secured Government approval to extend the Abhaile…
Shashika Bandara, PhD candidate1, Inosha Alwis, lecturer2 1PhD candidate, Department of Family Medicine, Faculty of Medicine and Health Sciences, McGill University, Montreal, Quebec, Canada 2Lecturer, Department of Community Medicine, Faculty of Medicine, University of Peradeniya, Kandy, Sri Lanka Correspondence to: S Bandara shashika.bandara{at}mail.mcgill.ca Urgent action is needed to maintain vital services Sri Lanka is facing…
The increase in insolvencies worldwide should prompt directors of South African companies to re-look how they will secure their own business continuity should any of their key suppliers fold and stop providing them with mission-critical systems. And, while doing so, theyd be smart to consider active software escrow as the simplest and most cost-effective solution…
The Companies and Allied Matters Act CAMA 2020 was signed into law by President Muhammadu Buhari and serves as the apex regulatory guide for Corporate practice in Nigeria. Unlike the previous CAMA 2004(now repealed), the new CAMA has certain provisions governing Corporate Insolvency practice in Nigeria which revolves around the methods and processes used to…