In the summer of last year, the Corporate Insolvency and Governance Act 2020 (CIGA) was rushed through the UK Parliament in a five-week period to deal with the expected fallout from the Covid-19 pandemic. As the biggest change to the UKs insolvency and restructuring legalisation in over 20 years, one of the cornerstones of this…
It seems the only advertisers these days are Harvey Norman, sports betting shops and Chemist Warehouse and Priceline with their pages of pills and unguents. Indeed, the term health and wellness might be overused and even tautologous, but tell that to average households that spend many billions of dollars annually on cosmetics, dietary supplements and…
Highlights French govt reportedly offers loan to wheelmaker Talks with union end at Poitou iron foundry Financier collapse compounded pandemic impact London Alvance Aluminium, part of the GFG Alliance Group, confirmed April 26 that its three downstream engineering businesses in France have been placed into voluntary administration on structural market changes and a lack of…
THE state mining regulator has short-circuited discussions on the future of a Bendigo company and forced multiple sites into rehabilitation through legal action. Earth Resources Regulation has gone to the Federal Court of Australia to stop one company locking in a deed of company arrangement for Kralcopic, the Bendigo group that collapsed into voluntary administration…
published : 22 Apr 2021 at 14:45 writer: AFP Administrators will wind down Greensill activities and attempt to sell off parts of the business, which was founded in 2011 by Australian Lex Greensill LONDON – The Australian parent of failed specialist finance firm Greensill Capital, whose recent collapse sparked worldwide corporate fallout, job loss fears…
Member Article North East business owners are being warned of the dangers of trying to do too much too quickly as the economy begins to open up. Alexandra Withers, North East chair of insolvency and restructuring trade body R3, was speaking after the latest corporate insolvency figures for England and Wales revealed a 45% month-on-month…
Greensill Capitals Australian business, which collapsed last month with debts of A$4.9bn, has entered liquidation. Administrator Grant Thornton said creditors had voted by 23 to zero, with a handful of abstentions, to liquidate the parent company of the disgraced supply chain firm. Read more: Hand it over: David Cameron ordered to show lobbying text messages…
Creditors have voted to liquidate Greensill Capitals Australian business, which collapsed last month with debts of A$4.9bn to companies including Credit Suisse and SoftBank. Administrator Grant Thornton said on Thursday that creditors had voted by 23 to zero, with a handful of abstentions, to wind up the parent company of the London-based supply-chain finance group…
By Reuters Staff 2 Min Read FILE PHOTO: The GFG Alliance flag flies at the completion of a 330 million pound deal to buy Britain’s last remaining Aluminium smelter in Fort William Lochaber Scotland, Britain December 19, 2016. REUTERS/Russell Cheyne PARIS (Reuters) – The Alvance Aluminium branch of British businessman Sanjeev Guptas GFG Alliance on…
A notable monthly increase in corporate insolvencies indicates the negative impact of the pandemic on businesses, but the ability of companies to reinvent themselves over the past twelve months should give cause for economic optimism. This is according to the Midlands branch of insolvency and restructuring trade body R3 and comes on the back of…