Thursday, February 25, 2021 Following on frompart 1of our predictions for 2021 for the UK restructuring marketpart 2 looks at CVAs, directors duties and HMRC and insolvencies. We had hoped to cover off everything in 2 parts, but 2021 looks to be a busy year so we will publish the final part of this series…
Polish manufacturer of steel foundations for offshore wind farms, ST3 Offshore which declared bankruptcy in March 2020 has been put up for sale by the Official Receiver of the company in insolvency. A tender has been issued for the sale of ST3 Offshore with a reserve price of the company amounting to PLN 234,680,000 net…
VBS liquidators are going after KPMG SA to try and recover some of the funds lost in large-scale fraud that the firm’s auditors failed to report. Photo: Getty Images VBS liquidator Anoosh Rooplal isgoing after KPMG SA to try to recover some of the funds lost in large-scale fraud that the firm’s auditors failed to…
By Natalia Zinets 3 Min Read KYIV, Feb 23 (Reuters) – Ukraine listed the former CEO of its largest bank and two other top former managers on Tuesday as suspects in an embezzlement case, the first criminal case opened in a long-running dispute over the bank whose nationalisation dominates domestic politics. The fate of PrivatBank…
By Natalia Zinets KYIV, Feb 23 (Reuters) – Ukraine listed the former CEO of its largest bank and two other top former managers on Tuesday as suspects in an embezzlement case, the first criminal case opened in a long-running dispute over the bank whose nationalisation dominates domestic politics. The fate of PrivatBank has overshadowed Ukraine’s…
Member Article Corporate insolvencies decreased by 39.1% to 752 in January 2021 compared to December 2020s figure of 1,235, and were 50.4% lower than January 2020s figure of 1,515. Personal insolvencies decreased by 13.7% to 8,305 in January 2021 compared to December 2020s figure of 9,623, and were 20.8% lower than January 2020s figure of…
Directors no longer have the protection of the COVID Safe Harbour insolvency rules put in place to deal with the impact of the pandemic. These rules, which absolved directors from personal liability if their businesses traded while insolvent, have been replaced by legislation that includes a new, streamlined SME restructuring process that came into force…
These charges are baseless and I will be defending them. This has already been dealt with and is very old news. Ron Bensimon Originally from Melbourne but based in Bondi since 2017, Mr Bensimon indicated he would fight the case against him. These charges are baseless and I will be defending them. This has already…
For individual insolvencies, the number of bankruptcies in January 2021 was 818, while the number of Debt Relief Orders was 1,167. Both were 47% lower than in January 2020. Overall numbers of company and individual insolvencies have remained low since the start of the first UK lockdown in March 2020, when compared with the same…
Grupeer is looking to work with lawyers representing a group of disgruntled investors who were taking legal action against the European peer-to-peer lender. The Latvia-based peer-to-peer lender had itseconomic activities suspendedby the countrys tax authority last September. It also faced criticism and legal action after it said in March that it wouldno longer pay interest…