Ian Defty, partner at Begbies Traynor and insolvency advisor at Integrated Dispute Resolution. By Ian Defty, partner at Begbies Traynor and insolvency advisor at Legal Futures Associate Integrated Dispute Resolution. It is fair to say that there has, for many years, been a difference of opinion between the law governing personal insolvency and matrimonial law…
THE NUMBER of restaurant bankruptcies rose sharply at the end of February in Finland, reports Asiakastieto. The Finnish provider of business and consumer information reported yesterday that 14 restaurants were declared bankrupt between 22 and 28 February. Although the number is high in comparison to previous weeks, the number of bankruptcies in the first eight…
Queensland’s three-year run as the nation’s bankruptcy capital has continued with damning new figures revealing the significant number of people facing financial distress. In the 2020 calendar year, 4458 personal bankruptcies were recorded in Queensland ahead of 4413 in NSW. Victoria – which was locked down for four months – recorded 2724 personal insolvencies. In…
The Premier Cru ponzi scheme has left thousands out of pocket, but there may be a glimmer of hope. By W. Blake Gray | Posted Wednesday, 03-Mar-2021 There’s a little light ahead for the victims of John Fox’s Ponzi scheme at the bankrupt Premier Cru wine shop they may soon get some of their money…
Queensland’s three-year run as the nation’s bankruptcy capital has continued with damning new figures revealing the significant number of people facing financial distress. In the 2020 calendar year, 4458 personal bankruptcies were recorded in Queensland ahead of 4413 in NSW. Victoria – which was locked down for four months – recorded 2724 personal insolvencies. In…
The multi-billion dollar financial empire built by Bundaberg farmer’s son Lex Greensill faces unravelling. London-based Greensill Capital, founded by Mr Greensill a decade ago, has appointed Grant Thornton to look at restructuring options as it faces the possibility of filing for insolvency, according to people familiar with the company. The financial strife came after Credit…
Czech Airlines insolvency petition sets out the scale of the companys financial problems, which it partly attributes to the inability to source rescue funding from the Czech government. The company has 266 creditors, with the total liability to suppliers amounting to Kc809 million ($37.1 million) as of 25 February, its petition to a Prague municipal…
By Reuters Staff 2 Min Read MILAN (Reuters) – A revamped Alitalia will start with 45 planes, have around 4,500 workers and get just over 1 billion euros ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday. FILE PHOTO: An Alitalia Airbus A320-200 passenger aircraft…
Greensill Capital has sought protection from Australias insolvency regime, as the finance group races to strike a rescue deal and another fund severed ties. The company is hoping to invoke safe harbour protection in Australia, which shields directors from personal liability for a company trading while insolvent, according to people familiar with the matter. Greensill…
Back in 2003, just a year after his loss to fellow legend Lennox Lewis, Mike Tyson declared bankruptcy with reported debts of $23 million (16.5 million). And while he has made more than $300 million (216 million) in his entire carrier, Tyson was forced to sell off many of his assets, which also included his…