Company liquidation as a going concern, instead of winding it up and selling the assets bit by bit, is gaining traction, as it helps fetch higher value for creditors while saving the livelihood of employees. The Ahmedabad chapter of the National Company Law Tribunal (NCLT) last week passed an order clearing the liquidation of an…
Specifically, the suspension of the provisions around wrongful trading will be over and creditors can once again seek to put companies who owe them money into liquidation. The end of protections has already been delayed numerous times. The UK Government is undoubtedly concerned that ending the protections all at once will lead to a real…
A Liverpool property company that was behind a number of stalled sites now owes buyers over 41m. Absolute Living Developments (ALD) was behind a string of off plan residential schemes across the north west which were not delivered. The schemes were heavily marketed toward overseas buyers many of whom lived in the Far East. But…
Foreword from the Chair of the Insolvency Service Board I am delighted to introduce the Insolvency Services annual plan for 2021-2022, having been appointed Chair of the Insolvency Service Board in April 2021. This is an exciting and important time for the Insolvency Service as we launch our new five-year strategy. It is my privilege…
(Bloomberg) — Japan Airlines Co. plans to raise about 300 billion yen ($2.7 billion) via subordinated bonds and loans to shore up its capital in case the coronavirus pandemic hurts travel demand longer than it expects. The Tokyo-based carrier said it secured around 200 billion yen in loans from four Japanese banks and plans to…
A slow transition to a low-carbon future and failure to take urgent action on climate risks stranding more than a trillion dollars in oil and gas projects, according to a new study out from financial think tank Carbon Tracker Initiative. The groups fifth annual analysis of the risk of investing in oil and gas reveals…
A slow transition to a low-carbon future and failure to take urgent action on climate risks stranding more than a trillion dollars in oil and gas projects, according to a new study out from financial think tank Carbon Tracker Initiative. The groups fifth annual analysis of the risk of investing in oil and gas reveals…
Sebastian Ahlskog is the former chief financial officer of Starbreeze, the Swedish studio probably best-known for the Payday series, and in February 2020 was convicted of insider trading: a conviction that has now been quashed on appeal (as reported by GamesIndustry.biz). The original conviction came after an investigation into Ahlskog selling his shares in Starbreeze…
Steven Edwin Prosser (60), from Broxbourne, Hertfordshire, was appointed a director of Sell Your Car With Us Limited in May 2016. The company sold second hand cars and traded from premises on Hare Street in Buntingford, Hertfordshire. Three years later, Sell Your Car With Us entered into liquidation in September 2019. The companys insolvency, however,…
According to the latest data from the Insolvency and Bankruptcy Board of India (IBBI), 126 cases were admitted between April and June 2021. (Representative Image) In the first quarter of this fiscal (Q1FY22), after the moratorium on fresh insolvency filings was lifted, nearly 10 new corporate insolvency cases were filed every week. The government had…