Professional services consultancy Begbies Traynor has acquired a portfolio of 503 Scottish personal insolvency cases from Grant Thornton UK for up to 500,000. Begbies Traynor said the deal involved an initial payment of 250,000, with the same on offer subject to fee income generated from the caseload post-completion. The AIM-listed group said on Monday that…
The UK government introduced the Corporate Insolvency and Governance Bill (CIGB) to Parliament on 20 May 2020. As well as including temporary measures to help support businesses affected by COVID-19, it proposes significant permanent changes to UK insolvency law. These proposed permanent changes include a new company moratorium: a mechanism to give a company in…
A seven-time bankrupt has been sentenced to over two years in jail after pleading guilty to more than a dozen bankruptcy offences in the District Court of Western Australia. John Derek Overton, formerly known as John Derek Elvey, from Western Australia, has been sentenced to imprisonment after being convicted of 17 charges relating to bankruptcy.…
For the thousands of small businesses, which have been the beneficiary of many of the Covid-related measures announced by the government over the past three months, the landscape after September is particularly treacherous. The single biggest unknown is the extent to which they will be able to resume business. Its unlikely international tourists will resume…
MUMBAI: Bombay high court has declared Ravikiran and Pujit Agrawal, the father-son duo of Orbit builders, insolvent. Justice S C Gupte passed the order on May 26 in an insolvency petition they filed last year, as debtors.Both, father and son, claimed to be indebted under a consent decree of June 2015 for Rs 56 crore…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 69 bankruptcies in week 21. This is 4 down on the previous week. In addition, 16 sole proprietorships were declared…
The car-rental industry has seen yet another bankruptcy. Advantage Rent A Car, previously owned by Hertz, filed for bankruptcy on Wednesday. The intertwined stories of Hertz and Advantage, featuring Canadian distressed-debt investors and pro-competition American regulators, reveal how dozens of blunders sank both firms into bankruptcy. Visit Business Insiders homepage for more stories. A former…
Thai Airways will resort to the country’sBankruptcy Act to enter a sweeping “rehabilitation” plan following the government’s refusal to extend a bailout package to the trouble’s flag-carrier. In a statement issued to media, the Star Alliance member – whose domestic and international flights remaingrounded by the coronavirus pandemic said theThai Cabinet had approved a reform…
Hertz declared bankruptcy on May 22, carrying $US19 billion in debt. The iconic car rental company told its landlords days before that it would not pay them rent for the next six months, according to a letter reviewed by Business Insider. Its the latest example of a big-name corporation asking building owners, many of whom…
In a claim describing Salim Mehajer as one of Australia’s most disliked people, a high-profile defence lawyer says a Sydney gossip column made out she sleeps with clients and unfairly exposed her to ridicule for her manner of dress and weight. The May 2019 article featuring a picture of Mr Mehajer and lawyer Zali Burrows…