A personal insolvency arrangement (PIA) which allows a Co Galway-based electrical contractor to write off approximately 2.7 million in debt owed to financial institutions has been approved by the High Court. Mr Justice Alexander Owens, who approved the PIA in respect of Thomas Fahy on Monday, described the arrangement as being “a good bit of…
Details12/06/2023 15:00 Nikki van Toorn The number of corporate bankruptcies, adjusted for court session days, has increased. There were 16 more bankruptcies in May than in the previous month, according to Statistics Netherlands (CBS). This is an increase of 7 percent. The number of bankruptcies remained below the pre-pandemic level. In the first five months…
DetailsEmmanuel Macron has been accused of pushing through the stealth nationalisation of a French private nursing home business by a group of American hedge funds. Paris-listed Orpea, which has been gripped by scandals including allegations that elderly residents were blocked access to adult nappies and food, is set to be seized by the French state…
DetailsThe National Company Law Tribunal (NCLT) on Thursday granted two weeks to aircraft leasing company Aircastle (Ireland) to file a reply to Spicejet‘s application questioning the maintainability of the insolvency petition filed by the lessor.Aircastle (Ireland) had filed a petition under section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to start the corporate…
DetailsThe National Company Law Tribunal, in the petition filed by aircraft lessor Wilmington Trust SP Services (Dublin) Ltd for initiating the corporate insolvency resolution process, adjourned the matter on Monday. The matter is likely to be listed on July 16. This is the third case filed by the company against the airline. Two other cases…
DetailsA personal insolvency arrangement which allows a Co. Galway-based electrical contractor to write off approximately 2.7m in debt owed to financial institutions has been approved by the High Court. Mr Justice Alexander Owens, who approved the PIA in respect of Thomas Fahy on Monday, described the arrangement as being “a good bit of business”. Under…
DetailsPatrick Lau, 46, has been sentenced to 16 months imprisonment, suspended for two years after pleading guilty to four counts of fraud under the Insolvency Act 1986. Lau had been sole director of Big Wok Ltd, which traded as a Chinese buffet restaurant in Birmingham until it went into liquidation in 2018. His company had…
DetailsAn electrical contractor will have some 2.7 million of a 2.9 million debt written-off under a personal insolvency arrangement (PIA) approved by the High Court. The arrangement, approved by Mr Justice Alexander Owens on Monday, includes the near halving of the 470,000 mortgage debt of Thomas Fahy from Cortoon, Claregalway, Co Galway. Approval was sought…
DetailsA Metairie-based oil company thats one of the largest independent operators still working in the states shallow coastal waters has filed for bankruptcy protection, leaving dozens of south Louisiana service and supply companies facing potential bankruptcies of their own. Cox Operating LLC executives have blamed the pandemic, OPEC price wars, the hurricanes of 2020 and…
DetailsBy Ronnie Harui LINE Financial and Nomura Holdings have agreed to restructure their joint venture’s financial-services business, the two companies said in a joint press release on Monday. Given changes in the business environment and the profit outlook for LINE Securities’ services, LINE Financial and Nomura agreed to the business restructure after considering the optimal…
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