New Delhi: The government has exempted corporate debtors’ production and revenue-sharing contracts, exploration licences and mining leases under the Oilfields (Regulation and Development) Act from moratorium under the Insolvency and Bankruptcy Code (IBC).This effectively means that the government can cancel such contracts or permits with insolvent firms in the petroleum sector even when bankruptcy proceedings…
From 10h ago Sir Ed Davey, leader of the Liberal Democrats, is calling for a 3bn emergency mortgage protection fund to protect people who would otherwise be repossessed. Speaking on Radio 4s Today programme, Davey says the government should provide the kind of help that was available after the last financial crisis. Davey explains: Weve…
Business insolvencies shot up by 40 per cent year-on-year in May, as macroeconomic pressures mount up. 2,552 businesses collapsed in May, according to the Office for National Statistics (ONS) data, which was higher than levels seen while Covid support measures were in place, and also higher than pre-pandemic numbers. Read more: Acquisition top cause of…
The conviction last year of former world number-one tennis player Boris Becker, for hiding millions of pounds of assets and loans in an attempt to evade tax liabilities, was a much-needed shot in the arm for the insolvency industry. Coming at a time when several high-profile prosecutions had ended in well-publicized failure for the UK…
FTSE 100 follows US and Asia higher, up 28 points Tesco sees signs of easing inflationary pressures Mortgage rates continue to rise, heading towards 6% 12.40pm: Intel to invest 4.2bn in Polish plant Computer chip manufacturer Intel Corp announced plans on Friday to build a large factory in Poland to assemble and test microprocessors. Intel Chief…
LONDON, June 16 (Reuters) – Company insolvencies in England and Wales last month jumped 40% year on year to the highest level since monthly records began in January 2019, government data showed on Friday. About 2,552 companies were declared insolvent in May – overwhelmingly through creditors’ voluntary liquidations, in which a company’s directors agree to…
Northern Ireland sees second biggest increase in liquidations after Scotland, led by Mid and East Antrim Only one business declared voluntary liquidation in the council area back in 2019 and none in 2020 when Covid-19 support measures were in place. But business insolvencies in Mid and East Antrim rose to 16 in 2021 and then…
Disgraced AFL great Barry Cable has been ordered by a court to pay more than $800,000 after he sexually abused an underage girl in Western Australia. The former North Melbourne star appeared before Perth District Court on Friday on civil allegations he assaulted a teenager during the 1960-70s. The woman, now aged in her 60s,…
The conviction last year of former world number-one tennis player Boris Becker, for hiding millions of pounds of assets and loans in an attempt to evade tax liabilities, was a much-needed shot in the arm for the insolvency industry. Coming at a time when several high-profile prosecutions had ended in well-publicized failure for the UK…
The North Melbourne and WAFL great has been ordered to pay more than $800,000 in damages after a judge found he sexually abused a Perth girl in the 1960s and ’70s By AAP, with staff writers 1 hr ago Barry Cable addresses the room during the 2012 Hall of Fame induction dinner. Picture: AFL Photos…