Hale and Hearty, the bankrupt chain of counter-service soup and salad restaurants, is back in business. The company, started in 1990 by Jonathan Schnipper an owner of the Schnippers burger chain and a partner in George Motzs Hamburger America will mount a comeback under new owners, who purchased the rights to the business and its…
Summary If a corporations directors fail to identify the pivotal point at which their company becomes legally insolvent, they can be held personally liable for breaching their fiduciary duties to the corporations creditors. The Upshot A corporations directors owe a fiduciary duty to its lenders from the moment the corporation qualifies as legally insolvent. Determining…
On April 18, two Dutch fruit and vegetable companies were declared bankrupt. Rodenburg Fresh Food of Rotterdam specialized in exporting the total fruit and vegetable package. Mr. M.K. de Bruijn was appointed curator. Fruta del Huerto, based in Breda, specialized in importing and exporting primarily limes. The company explains that the pandemic hit it hard,…
Scotlands businesses are still suffering from a Covid hangover with new divs showing the number of firms becoming insolvent has reached an 11-year high. Corporate insolvences rose to 1,132 in 2022-23, with this up by almost a third (32.6%) on the previous year, new divs from the Accountant in Bankruptcy showed. The 2022-23 total is nearly a…
On April 18, two Dutch fruit and vegetable companies were declared bankrupt. Rodenburg Fresh Food of Rotterdam specialized in exporting the total fruit and vegetable package. Mr. M.K. de Bruijn was appointed curator. Fruta del Huerto, based in Breda, specialized in importing and exporting primarily limes. The company explains that the pandemic hit it hard,…
Whenever a hard rain fell on Harlan County, Kentucky, the mud, rocks and debris from the Foresters No. 25 mine pounded down the hillside into the community of Wallins Creek. Local residents repeatedly complained about washed-out culverts and mud in their yards. Time after time, county work crews came out after a heavy rain to…
The surge in corporate insolvencies, reaching their peak in over three years, can be attributed to the escalating occurrence of Creditors’ Voluntary Liquidations, which have also hit a three-year record. Corporate insolvencies increased by 37.7% in March 2023 to a total of 2,457 compared to February’s total of 1,784, and increased by 15.9% compared to…
Moves to crackdown on phoenixing, long a plague on the construction industry, have been branded a toothless tiger that dont go far enough. Under the practice, directors transfer the business of an existing company to a new company and leave debts in the old company. The directors then abandon or liquidate the first company to…
FORMER Manchester United star Wes Brown has been declared bankrupt, according to reports. The Mirror claim HMRC filed a bankruptcy petition against the ex-England defender in February, which was signed off at the High Court on April 12. Wes Brown has been declared bankruptCredit: PA:Press Association Brown split from his wife Leanne last yearCredit: Splash…
The South West’s head for the insolvency and restructuring trade body R3 has responded to the latest insolvency figures for England and Wales and shared key advice to Gloucestershire businesses that could help to head off the risk of bankruptcy. With corporate insolvencies increasing by 37.7% in March 2023 compared to February and rising by…