(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Neil Unmack LONDON, April 21 (Reuters Breakingviews) – The German lender’s latest U.S. regulatory thwack comes as it asks creditors to swap bail-in bonds for SEC-registered ones with clearer terms. It implicitly tests Berlin‘s model for resolving banks. It’s also a…
THE number of Scottish corporate insolvencies in the first quarter was down 19 per cent on a year earlier, with business failure levels now back at normal levels, analysis by KPMG shows. Blair Nimmo, head of restructuring at KPMG, declared the accountancy firm had seen the return of some stability to the Scottish oil and…
There has been a recent development in the case of EU insurer Enterprise Insurance several months after it was declared insolvent. Earlier this week, the Gibraltar Financial Services Commission (GFSC) appointed Tony Woodcock and John Fordham of Stephenson Harwood LLP as independent inspectors to investigate the insolvency of Enterprise and the conduct of its directors…
Some $60 million (56 million) of debt issued by a Dublin-based company for a Russian bank last November has been deemed worthless as the borrower, currently at the centre of a fraud investigation, has been declared bankrupt. Tatfondbank, based in the city of Kazan, east of Moscow, set up an Irish special-purpose vehicle (SPV) called…
JOB TITLE: Solicitor (2-4 years PQE), Litigation / Business Dispute and Asset Recovery (Corporate Restructuring and Insolvency) Based in Edinburgh REPORTING TO: Rachel Grant, Partner JOB PURPOSE: We currently have an exciting opportunity for a solicitor to join our well established and highly regarded corporate restructuring and insolvency team within the Business Dispute and Asset…
Socialite Kirsty Dayment jailed for cocaine dealing SYDNEY, AUSTRALIA – APRIL 11: Model Kirsty Dayment arrives at the Downing Centre to be taken into custody for cocaine Importation on April 11, 2017 in Sydney, Australia. (Photo by Ben Rushton/Fairfax Media) Photo: Ben Rushton exit Disgraced socialite Kirsty Dayment has been sentenced to at least three…
Alan McIntosh Alan McIntosh summarises his new report on the Scottish governments faltering Debt Arrangement Scheme. A new report (see here) produced by myself shows that the Scottish governments flagship personal debt remedy, the Debt Arrangement Scheme, is in trouble, with the numbers accessing it having fallen by over 50 per cent in the last two years. The…
Image copyright Jaggery/Geograph Image caption Stuart Mudge was hit with restrictions during a hearing at Cardiff County Court A Newport man who ran a failed £8.5m spread-betting scheme has been hit with lengthy bankruptcy restrictions. Stuart Mudge, 61, took money from investors from 2009-12, but later admitted breaking the law by operating without Financial Conduct…
JOB TITLE: Solicitor (2-4 years PQE), Litigation / Business Dispute and Asset Recovery (Corporate Restructuring and Insolvency) Based in Edinburgh REPORTING TO: Rachel Grant, Partner JOB PURPOSE: We currently have an exciting opportunity for a solicitor to join our well established and highly regarded corporate restructuring and insolvency team within the Business Dispute and Asset…
MILLIONS of dollars was funnelled out of the coffers of failed Victorian builder Watersun Homes and into entities related to its directors in the months before its collapse, liquidators believe. Fairfax Media can also reveal that former Watersun display homes held in the name of a separate company are being sold off but liquidators are unsure…