Individual insolvency misuse by personal guarantors in govt cross hairs – Business Standard

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The moratorium under section 96 of IBC provides that upon the filing of an application ‘).insertAfter(“.article-content__img”);$(“.article-content__img div”).find(‘div’).remove(); //]]> The Ministry of Corporate Affairs (MCA) has taken a strict view of the misuse of individual insolvency by some personal guarantors, proposing that they not be allowed any moratorium period when they file for insolvency, in the…

Commentary – Monthly Insolvency Statistics December 2022 – GOV.UK

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Released 17 January 2023 Next release 14 February 2023 Media enquiries Jason Raj +44 (0)33 3032 9366 Statistical enquiries Sam Tudor (author) [email protected] David Webster (responsible statistician) 1. Main Messages for England and Wales The numbers provided in this publication are not seasonally adjusted and changes between consecutive months may not indicate overall trends. Therefore,…

SBF says Sullivan & Cromwell contradicted itself with insolvency claims – Cointelegraph

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Law firm Sullivan & Cromwell contradicted itself when it stated that shuttered crypto exchange FTX US is insolvent, former CEO Sam Bankman-Fried claimed in a Jan. 17 blog post that was shared on Twitter. FTX US is solvent, as it always as been.https://t.co/XjcyYFsoU0 pic.twitter.com/kn9Wm9wxjl SBF (@SBF_FTX) January 18, 2023 The law firm was hired by…

Insolvencies soar amid rising costs and economic downturn – Business Sale Report

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Wed, 18 Jan 2023 | BUSINESS NEWS New figures from the Insolvency Service have shown that corporate insolvencies increased sharply in December 2022, as UK companies struggled with rising costs, plummeting consumer sentiment and the end of COVID-19-related government support. The Insolvency Service reported that there were 1,964 company insolvencies in December 2022, up 32…

Shrewsbury glass company that suddenly collapsed agrees to go … – Shropshire Star

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Heritage Glass Group in Shrewsbury spent 60,000 on a new showroom and vehicles during lockdown Directors of Heritage Glass (Shrewsbury) held a board meeting on Tuesday and decided to place the company into a creditors’ voluntary liquidation with a financial black hole estimated to be about 800,000. The company, based at Racecourse Crescent, Monkmoor, had…

Reliance Capital Insolvency: Creditors Agree To Reschedule Auction To Jan. 23 – BQ Prime

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The Committee of Creditors of the Anil Ambani-owned Reliance Capital Ltd. has informed the National Company Law Tribunal that it will reschedule the ‘extended auction’ to Jan. 23. The auction was originally scheduled for Jan. 19.The CoC agreed to do this in light of Torrent Investments Ltd.’s pending challenge before the insolvency court. In a…