LONDON, July 28 (Reuters) – England and Wales saw the highest number of company insolvencies since 2009 during the second quarter of this year, government figures showed on Friday. On a seasonally adjusted basis, 6,342 companies were registered as insolvent in the three months to the end of June, 13% more than a year earlier…
SINGAPORE The accounting industry watchdog will re-evaluate the sectors regulatory framework in a bid to keep pace with the changing business environment and maintain standards. The Accounting and Corporate Regulatory Authority (Acra) review will likely take some time, given the need to engage with key stakeholders and conduct public consultations before proposals are made to…
A leading Victorian company has collapsed owing tens of millions of dollars and leaving all of its employees without a job. Richstone Group Pty Ltd, the states largest privately-owned plumbing contractor, last month announced it was entering voluntary administration and restructuring. BRI Ferriers David Coyne and Peter Krejci were tasked with acting as joint administrators…
Some six months ago, Hyderabad-based Ind-Barath Energy walked out of the Insolvency and Bankruptcy Code (IBC) proceedings with a new buyer, JSW Energy, after nearly four years. Under the IBCs timelines, the process should have taken six months, or a maximum of a year if one factors in litigation. The outcome was equally disappointing, with…
Maarten Holl/Stuff Craft beer brewer Epic Brewing Company is in liquidation. Auckland craft beer brewer Epic Brewing Company has gone into liquidation. Companies Office records show the business was placed into liquidation by a special resolution of shareholders on Tuesday. Damien Grant and Adam Botterill of Waterstone Insolvency were appointed liquidators. Owner Luke Nicholas developed…
Buyers are being sought for Epic after it went into liquidation. Kiwi craft beer brewer Epic Brewing Company has gone into liquidation. Waterstone Insolvency were appointed liquidators by Epics shareholders on Tuesday. Waterstone Insolvency director Adam Botterill told the Herald they were looking for buyers for the brewer. We are running the business as a…
In the first quarter of this year, Scottish corporate insolvencies saw a significant increase of 19.7% compared to the same period last year, reaching a total of 292. This data comes from Scotlands insolvency service Accountant in Bankruptcy (AiB). Additionally, when compared to pre-pandemic levels in 2019, corporate insolvency numbers in Scotland rose by 21.7%.…
Business News Industry People Labels & Publishers Top Stories By Andy Malt | Published on Wednesday 26 July 2023 Following the news that Utopia Musics UK R&D company has called in the liquidators, CMU has now confirmed that the groups Finnish R&D company Utopia R&D Tech Finland OY has also been placed into bankruptcy. Utopia…
Scottish corporate insolvencies rose by 19.7% in the first quarter of this year – to a total of 292 – when compared to the same period last year, while personal insolvencies rose 2.9%. New data from Scotland’s insolvency service Accountant in Bankruptcy (AiB) showed that corporate insolvency numbers in Scotland also increased by 21.7% when…
The insolvency restructuring market in China is undergoing significant transformations in terms of legislation, judicial practice and law enforcement. The momentum of these changes accelerated notably in 2022, propelled by a combination of factors, including: The persistent macroeconomic environment; Chinas pandemic prevention and control policies; and The governments heightened emphasis on optimising the business environment.…