A personal insolvency arrangement which allows a Co. Galway-based electrical contractor to write off approximately 2.7m in debt owed to financial institutions has been approved by the High Court. Mr Justice Alexander Owens, who approved the PIA in respect of Thomas Fahy on Monday, described the arrangement as being “a good bit of business”. Under…
Patrick Lau, 46, has been sentenced to 16 months imprisonment, suspended for two years after pleading guilty to four counts of fraud under the Insolvency Act 1986. Lau had been sole director of Big Wok Ltd, which traded as a Chinese buffet restaurant in Birmingham until it went into liquidation in 2018. His company had…
An electrical contractor will have some 2.7 million of a 2.9 million debt written-off under a personal insolvency arrangement (PIA) approved by the High Court. The arrangement, approved by Mr Justice Alexander Owens on Monday, includes the near halving of the 470,000 mortgage debt of Thomas Fahy from Cortoon, Claregalway, Co Galway. Approval was sought…
A Metairie-based oil company thats one of the largest independent operators still working in the states shallow coastal waters has filed for bankruptcy protection, leaving dozens of south Louisiana service and supply companies facing potential bankruptcies of their own. Cox Operating LLC executives have blamed the pandemic, OPEC price wars, the hurricanes of 2020 and…
FTX has won permission to redact customer names from filings in its bankruptcy case. The ruling, handed down Friday (June 9) in federal court, came after the bankrupt cryptocurrency exchange persuaded a judge that making their names public could put those customers at risk for identity theft or other scams. It is the customers who are…
The insolvency and bankruptcy cases of real estate companies have witnessed steady progress in terms of resolutions despite several complexities involved including troubled homebuyers in large numbers. The possibility of the government bringing in changes to the code to allow resolution depending on the nature of the projects instead of stipulating one rigid framework for…
Less than one year after its acquisition by potato business Tuber Group, UK fresh produce company MyFresh has entered administration. MyFresh has hired Conrad Alan Beighton and Dane OHara from Leonard Curtis to act as administrators. The company was declared insolvent on 20 April and the deadline to find a buyer is 15 June. Based…
All That Was Left tells the story of Henry Cyril Paget and the Great Anglesey Sales, which saw all he had owned sold to pay his debts. Henry Cyril Paget (1875-1905) succeeded the title of the 5th Marquess of Anglesey and inherited Plas Newydd in 1898 along with about 110,000 a year, which is the…
Investigation The collapse of the cancer care provider has left reputations in tatters. Jun 9, 2023 5.12pm It wasnt meant to end like this. Only four years ago, GenesisCare, the Brisbane-born cancer care provider with more than 400 locations spanning Australia, the UK, US and Spain, had just sealed a $1.5 billion acquisition to conquer…
The National Company Law Tribunal (NCLT) has issued a notice to the Insolvency Resolution Professional (IRP) of crisis-hit Go First over a plea filed by supply chain operator Delhivery. The Delhivery had moved the tribunal on Thursday and said the debt-ridden airline intentionally took payments from them despite knowing that it was filing for…