UK firms that have gone bust since June are often citing Brexit as a factor behind their demise, insolvency practitioners (IPs) say. Some 45 per cent of IPs questioned by trade body R3 said Brexit has been mentioned by businesses seeking their help since the referendum. Related articles In addition, 30 per cent questioned said…
Winsley Militala Lovemore Zigara, Midlands CorrespondentTHE final liquidation of the countrys sole flint glass manufacturer, Zimbabwe Glass Industries (Zimglass) has been completed after efforts to revamp the company failed. The move paves way for the disposal of the companys assets, management said. Zimglass, a subsidiary of the Industrial Development Corporation (IDC), has been insolvent since…
THE decision by Queensland Rail to transfer eight contracts worth $20m held by Walton Queensland to the alleged phoenix company Peloton on the strength of a phone call three days before the builder went into administration has been referred to the Crime and Corruption Commission. The move comes after examination by Queensland Integrity Commissioner Richard…
As part of its simplification initiative, the Financial Accounting Standards Board last March issued new stock-based compensation guidance. The update provides private companies, when granting stock to employees, with a one-time election to switch from measuring all liability-classified awards at fair value to measuring them at intrinsic value. In contemplating whether to make such an…
The company entered voluntary liquidation on November 24. David Blenkarn and Gregory Palfrey, insolvency practitioners from accountancy firm Smith & Williamson, were appointed as joint liquidators for the winding up process. In a statement of affairs filing on Companies House, European debt purchaser Intrum Justitia is listed as a company creditor, to the value of…
Unless the startup you’re working for is the next Google, you’re going to want to pay attention to these stock option tips. Early Googler As a product-obsessed entrepreneur and investor, I rarely focus on financing mechanics in the start-up world. It tends to be a binary outcome, and people should join a venture for the…
Unless the startup you’re working for is the next Google, you’re going to want to pay attention to these stock option tips. Early Googler As a product-obsessed entrepreneur and investor, I rarely focus on financing mechanics in the start-up world. It tends to be a binary outcome, and people should join a venture for the…
Restructuring & Insolvency 2017: Analysis The collaboration between Whos Who Legal and Global Restructuring Review has again generated extensive research into restructuring and insolvency legal markets around the world. All told, we list 570 lawyers this year from 47 jurisdictions. Thought Leaders Europe Rita Gismondi Gianni Origoni Grippo Cappelli & Partners, Rome…
PERV’S BIG PAYDAY Jailed entertainer and wife Alwen, 85, split a payout of £1,056,029 from the closure of perv’s firm Rolf Harris Entertainment Limited PAEDOPHILE Rolf Harris and his wife shared more than £1million from the liquidation of one of his companies. The 86-year-old and Alwen, 85, got £1,056,029 from the closure of Rolf Harris…
Many of the recommendations made in the 2015 forensic audit into the National Industrial and Commercial Investments Limited (NICIL) have been implemented but the Board has decided that the company should not be liquidated. This is according to Officer in Charge Horace James, who said that instead of liquidation it was decided that a Privatization…