The Australian Electoral Commission has dropped a case against former far-right senator, Fraser Anning, because it has been unable to locate him. In November the AEC brought an action seeking a penalty of up to $26,640 against Anning in the federal court for his alleged failure to lodge an annual financial return for the 2018-19…
Insolvency is stalking many UK businesses in the wake of coronavirus and Brexit. This has been particularly visible in retail, with 2021 already seeing stationery chain Paperchase in administration and former high-street leaders Debenhams and Topshop being mopped up by online upstarts Boohoo and Asos. Meanwhile, pubs and restaurants are lobbying hard to be allowed…
Insolvency is stalking many UK businesses in the wake of coronavirus and Brexit. This has been particularly visible in retail, with 2021 already seeing stationery chain Paperchase in administration and former high-street leaders Debenhams and Topshop being mopped up by online upstarts Boohoo and Asos. Meanwhile, pubs and restaurants are lobbying hard to be allowed…
The government announced it intends to extend the power (granted through the Corporate Governance and Insolvency Act) to make temporary amendments or modify the effects of corporate insolvency and governance legislation for an additional year until April 2022. The government laid the regulations on 11 February 2021 in Parliament ahead of the power expiring on…
In 2020, several significant judicial decisions were rendered across Canada relevant to commercial lenders, businesses and restructuring professionals. This bulletin summarizes the core issues of importance in each case and provides status updates on the cases reported on in our January 2020 bulletin, Key Developments in Canadian Insolvency Case Law in 2019. CHARACTERIZATION AND TREATMENT…
News LBV Hub Legal Services Farleys Solicitors North West law firm Farleys Solicitors have launched a free personal insolvency advice line as a response to the sharp rise in number of bankruptcies and IVAs in the last three months of 2020 as the Covid-19 pandemic continues to affect vast numbers of individuals and their finances,…
Liquor World (Scotland) Ltd was wound up in the public interest on 11 February 2021 by order of Lord Clark in the Court of Session. Julie Tait and Stuart Preston of Grant Thornton UK LLP have been appointed joint interim liquidators of the company. The company, which appeared to have traded as a retailer and…
Wednesday, February 17, 2021 COVID-19 continues to disrupt normal business operations, creating liquidity problems and negative working capital for many companies. As fund sponsors take actions to help their portfolio companies navigate through this time, they should alsosensitize directors to insolvency issuesand the associated litigation risks. As we have previously highlighted, bothfunds and fund managers…
A CREDITOR wants the former operator of the goldfield under Bendigo declared insolvent because of a debt of just over $200,000. The Bendigo Advertiser has obtained a court document alleging Kralcopic Pty Ltd has failed to pay back $234,308.40 owed to company Gold Miners Australia Pty Ltd. It comes as Kralcopic fights on multiple fronts…
She hoodwinked investors by cooking the books of her wellness website, now glamorous social media influencer Bianca Cheah has been declared bankrupt. In 2019, the NSW Supreme Court ordered Ms Cheah and her husband Simon Chalmers to pay the former Australian boss of investment bank Lazard Garren Cronin and his wife Emma more than $1…