An artist with Royal, political and sports celebrity connections has been caught abusing a BounceBack Loan. The Insolvency Service says the case is a warning that there are consequences following disqualification which is a lengthy exclusion from trading with the benefit of limited liability. The Insolvency Service has reported that artist Darren Baker has abused…
Financially troubled Danish crew transfer vessel operator World Marine Offshore (WMO) has been declared bankrupt. According to the State Gazette, the Court in Esbjerg took the company under bankruptcy proceedings earlier this week following a petition on January 6. John Sommer Schmidt of the law firm Gorrissen Federspiel, who is the trustee of the estate,…
Thursday, January 12, 2023 INTRODUCTION With the passage of almost six years since the introduction of the Insolvency and Bankruptcy Code, 2016 (IBC/Code), the Code has achieved substantial progress towards providing a robust insolvency resolution mechanism in the country. At the same time, we have also witnessed significant challenges in the effective implementation of the…
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Sam Bankman-Fried published a lengthy pre-mortem of FTX on Thursday morning, detailing his claims about the activities, solvency, and possible…
Historically few bankruptcies in 2022 as well Change navigation 12/01/2023 15:00 ANP The number of companies declared bankrupt (including sole proprietorships), adjusted for court session days, increased for the fourth consecutive month in December. Statistics Netherlands (CBS) reports that there were 34 more bankruptcies in December than in November 2022. With the December figure being…
The number of bankruptcies in 2022 was again historically low. A total of 2,144 companies and institutions, including one-person businesses, were declared bankrupt last year, Statistics Netherlands (CBS) reported based on provisional figures. That is the second lowest number since the start of this statistic in 1981. That is partly because companies still had access…
Image caption, Justyna Lorbiecka (left) and Leanne Lewinss say they have not received their redundancy money and are unable to find out when it might be paid By Sam Thomson BBC Radio Newcastle Workers who lost their jobs at a food and drinks factory claim they are being “ignored” by their former employers who owe…
The bankruptcy court in Indore has rejected the revival plan for listed energy company Ujaas Energy, with the observation that the Committee of Creditors (CoC) cannot extinguish the right of the secured creditor to proceed against the company’s personal guarantor. The ruling will set a precedent for lenders in other cases where dissenting secured creditors…
The bankruptcy court in Indore has rejected the revival plan for listed energy company Ujaas Energy, with the observation that the Committee of Creditors (CoC) cannot extinguish the right of the secured creditor to proceed against the company’s personal guarantor. The ruling will set a precedent for lenders in other cases where dissenting secured creditors…
The residential construction sector is under pressure. Photo / file Creditors of an insolvent Canterbury house-building and renovation business have been projected to lose more than $1 million after the company went under. ACC, a council, telco, an energy provider, a roofing business, building material suppliers, plumbing businesses, scaffolders and Inland Revenue want money from…