Holland Norway Lines was declared bankrupt this morning, just under eighteen months after the start of its ferry service. Things moved quickly after the company asked for payments to be suspended last Wednesday 30 August. An administrator was appointed the same day as required under Dutch law. The charter for Holland Norways only ferry, ROMANTIKA,…
The court in Groningen declared Holland Norway Lines BV (HNL) bankrupt. The bankruptcy was requested in consultation with trustee Hans Silvius and the management of HNL. Hans Silvius has been appointed as the curator. The reason for proceeding with the bankruptcy application is that no potential candidate has come forward for the takeover of Holland…
A Deep Dive into Insolvency and Restructuring with Claire Middlebrook of Middlebrooks Insolvency Practitioners Claire Middlebrook stands out in the ever-evolving world of insolvency and restructuring with her hands-on experience and unique perspective. Having kick-started her career with Arthur Anderson and eventually launching Middlebrooks, her trajectory speaks volumes about her expertise in the sector. As…
Croydon Council has declared bankruptcy for the third time in two years. Photo by Dan Kitwood/Getty Images. This article was originally published on 19 December. It has been republished following the news today (5 September 2023) that Birmingham council has issued a Section 114 notice, which effectively freezes spending. Today, Labour-led Birmingham Council declared bankruptcy,…
PA Media By Sophie Madden BBC West Midlands reporter Birmingham City Council has declared itself effectively bankrupt. The local authority – the largest in Europe – has issued a Section 114 notice preventing all but essential spending to protect core services. The pressures have been linked to a 760m bill to settle equal pay claims.…
Birmingham city council, the largest local authority in the country, has in effect declared itself bankrupt after issuing a section 114 notice signalling it cannot balance its budget without help. In a statement published on Tuesday, the leader and deputy leader of the Labour-run council, John Cotton and Sharon Thompson, said the notice was a…
Begbies Traynor Group has acquired Jones Giles & Clay, one of the leading business recovery and insolvency practices in Wales. The deal announced on the London Stock Market this morning (5 September) sees Begbies Traynor welcome four experienced team members to its Cardiff-based team, including directors Sue Clay and Vaughan Jones, who were the principals…
AHMEDABAD: Rasna got a breather from the Gujarat high court on Monday after it stayed the interim resolution professional (IRP) from taking over the company’s management till the appellate tribunal hears its appeal against the insolvency proceedings ordered by the National Company Law Tribunal (NCLT).After the NCLT ordered initiation of the corporate insolvency resolution process…
These houses in Adelaide’s south may look abandoned, but in fact the group of 20 homes has never been lived in. Key points: South Australia has a mandatory building indemnity insurance scheme It is designed to protect home owners when issues arise with building work But some South Australian home buyers are falling through the cracks The…
High interest rates following the pandemic when many organisations took out loans to survive mean an average of 7,000 businesses per quarter are expected to become insolvent next year. The second quarter of 2023 saw over 6,700 businesses declare insolvency in Britain, more than double that of a typical quarter during the pandemic, according to…