Increased liability for managing directors bow wave theory rejected by court – International Law Office

Bankruptcy

Introduction Illiquidity Bow wave theory Decision Consequences for practice Introduction German regulations obliging managing directors to monitor the liquidity of a company during crisis situations are typically rather strict and give rise to the risk of personal liability in cases of non-compliance. Legislation requires company management to file for insolvency proceedings without undue delay in…

Insolvency Service investigation leads to disqualification of Football Sport Auctions director – antiquestradegazette.com

Bankruptcy

Laura Chesters 22 Feb 2018 The Insolvency Service said he is prevented from being involved, directly or indirectly, in the promotion, formation or management of a company for ten years from January 26, 2018. Lane, of Prenton, … Read the full article at: https://www.antiquestradegazette.com/news/2018/insolvency-service-investigation-leads-to-disqualification-of-football-sport-auctions-director/

BCL suspends trade to review finances in notice to suppliers, creditors, subbies – The West Australian

Bankruptcy

AAP and staff reporters | The West Australian Thursday, 22 February 2018 9:47AM The builder specialises in civil landscape projects, including the West Coast Eagles Lathlain Precinct Oval and earthworks at Elizabeth Quay.Picture: Lofty Visions Another West Australian building company has suspended trading and operations due to financial viability problems a fortnight after one of…

Senator Cruz heads to bankrupt PA refinery for rally against biofuels policy – Yahoo7 News

Bankruptcy

By Jarrett Renshaw Senator Cruz heads to bankrupt PA refinery for rally against biofuels policy Philadelphia (Reuters) – Republican Senator Ted Cruz of Texas will speak at a rally against the U.S. Renewable Fuel Standard (RFS) on Wednesday hosted by bankrupt refiner Philadelphia Energy Solutions Inc – a company that blames the controversial biofuels policy…

Bulgarian President Radev vetoes amendments to bank insolvency law – The Sofia Globe

Bankruptcy

Share this: Bulgarian President Roumen Radev vetoed on February 21 a bill amending the Bank Insolvency Act, arguing that some of the provisions had retroactive effect, which breached the principle of the rule of law. The president supports the efforts of the National Assembly for greater efficiency in defending the public interest in bank insolvency,…

Businesses left reeling after Mandurah building company Colista Homes goes into liquidation – Community Newspaper Group

Bankruptcy

DOZENS of local businesses have been left reeling after Mandurah building company Cole Building Pty Ltd went into liquidation last month. Trading as Colista Homes and Colista Constructions, the company went into liquidation on January 31. Steven Kugal from the Insolvency Experts was appointed as the liquidator. More than 50 businesses are on the creditors…