Category Archives: Bankruptcy

Katie Price insists she won't lose multimillion Mucky Mansion over her bankruptcy as she declares: 'It's mine – Daily Mail

Katie Price insists she won’t lose multimillion Mucky Mansion over her bankruptcy as she declares: ‘It’s mine – no one can ever take it’ By Milly Veitch For Mailonline Published: 23:09 AEDT, 3 October 2023 | Updated: 23:21 AEDT, 3 October 2023 Katie Price has denied reports … Read the full article at: https://www.dailymail.co.uk/tvshowbiz/article-12588161/Katie-Price-insists-lose-multimillion-Mucky-Mansion-bankruptcy.html

Infarm's Dutch branch declared bankrupt – FoodBev.com

Vertical farming company Infarm has been declared bankrupt in the Netherlands, according to official documents. The news comes after the company closed operations across its key markets in the UK, France, Germany, the Netherlands and Denmark over the last year, completely exiting the European market. At the end of last year, Infarm laid off more…

Chatham Homes collapses: Melbourne construction company goes into liquidation – Daily Mail

Chatham Homes collapses: Melbourne construction company goes into liquidation Construction company collapsed Chatham Homes went into liquidation  By Ashley Nickel For Daily Mail Australia Published: 12:01 AEDT, 3 October 2023 | Updated: 12:35 AEDT, 3 October 2023 A Melbourne-based… Read the full article at: https://www.dailymail.co.uk/news/article-12586865/Chatham-Homes-collapses-Melbourne-construction-company-goes-liquidation.html

Pre-packaged insolvency fails to take off as bankers wary of voluntary haircuts | Mint – Mint

New Delhi: The pre-pack model of insolvency resolution introduced over two years ago to speed up the rescue of smaller firms has failed to take off, as bankers worry that the voluntary haircuts they opt for could lead to allegations of impropriety in the future. This, despite the fact that court approvals mandatory for all…

Future Retail lenders reject Space Mantras bid; NCLT extends insolvency period for 15 days – Zee Business

The lenders of Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP). The Resolution Plan submitted by Space Mantra for Future Retail Ltd (FRL), failed to get the required number of votes in the e-voting process of the Committee…

Court approves insolvency arrangement for accountant, writing off … – BreakingNews.ie

Debt settlement arrangements allowing people who got into financial difficulties to write-off millions of euro worth of unsecured debt mainly owed to financial firms have been approved by the High Court. On Monday, Mr Justice Alexander Owens approved the unrelated arrangements. Advertisement The judge approved a debt settlement arrangement (DSA) allowing Co Louth-based chartered accountant…

Insolvency rates rising but from low base – PwC – RTE.ie

Insolvency rates among firms are rising, but business failure remains at historically low levels, an analysis by PwC has concluded. In its latest Insolvency Baromoeter, PwC reported that insolvencies were up by a third in the first nine months to 468 compared to the same period last year. The final quarter of the year is…

IBBI's new measures aim to boost efficiency in personal guarantor … – BusinessLine

 The Insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) aims to enhance the efficiency of the personal guarantors insolvency process with three significant measures.  These proposed measures, currently open for public comments until October 19, include mandatory creditors meetings for all personal guarantor insolvency cases, allowing a single resolution professional to handle both personal…

Court imposes compensation order on disqualified director – Macfarlanes

What did the court say? The court granted the compensation order. In deciding whether to grant the order, the court had to wrestle with the question of calculation. The only other application for a compensation order to date (Re Noble Vintners Ltd [2019] EWHC 2806 (Ch)) concerned a breach of directors duty. For most kinds…

TGIF 29 September 2023 Director of insolvent company unable to … – Corrs Chambers Westgarth

In this weeks TGIF, we examine the recent case of Mandalinic v Stone (Liquidator) [2023] FCAFC 146 which provides useful guidance as to the ability of a director to challenge an insolvent companys PAYG liability. Key takeaways A director cannot rely on an affidavit in proceedings relating to their personal liability under a directors penalty…