Jane Thornton (54) and Norman Thornton (65), from Telford, were both directors of the construction company Norjan (Properties) Limited, which went into liquidation in July 2020 with liabilities over 411,000. The Liquidator discovered that Norjan had informed its major client to direct payments into a new bank account from January 2020. This account belonged to…
DetailsAccountancy firm SKSi is beefing up its ranks in Scotland ahead of a potential insolvency Armageddon following the end of two key government Covid support schemes. Restructuring expert Alistair Dickson, head of SKSi Scotland, has recruited four new insolvency practitioners ahead of changes in legislation that will once again make business liable to liquidation for…
DetailsJet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process. Jet Airways is facing insolvency proceedings in the Netherlands…
DetailsSerial entrepreneur C Sivasankaran, promoter of Siva Industries, has filed an appeal in the National Company Law Appellate Tribunal (NCLAT), Chennai, against the recent order of the National Company Law Tribunal (NCLT), Chennai, on liquidation of Siva Industries. The matter is listed for hearing on Monday. The NCLT, on August 12, ordered liquidation of Siva…
DetailsIn its second annual list, ALB showcases outstanding private practitioners in India when it comes to client service. These lawyers were selected based on client recommendations sent directly to ALB. The list is in alphabetical order, and some lawyers have been profiled. VINEET ANEJA, managing partner and head of corporate practice, Clasis Law Aneja, who…
DetailsBELGRADE (Serbia), September 6 (SeeNews) – Serbian company Konvar has acquired the assets of bankrupt pharmaceutical firm Jugoremedija from Czech Republic-based APS Capital Group’s subsidiary Project One for an undisclosed sum, data from the country’s commercial register showed on Monday. The ownership change at Jugoremedija was entered into the register on August 30, according to…
DetailsDear Penny, Were a middle-age married couple without kids or a mortgage. Weve been married for a few years, and my partner has had a gambling problem since before our marriage. The issue escalated during the pandemic. Though our income decreased, the more time available meant more gambling time to him. I took several loans…
DetailsThe Scottish Government has teamed up with StepChange Debt Charity Scotland, to launch a new handbook designed to help improve access to free advice services for struggling Scots. The Scotland Debt Guide is being introduced at a time of widespread financial distress in Scotland after polling showed that thousands of people are struggling with debt…
DetailsThe insolvency regulator has called for public comments on a proposal to introduce a code of conduct for Committees of Creditors (CoC), of companies undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). We examine the need for a code of conduct for the CoC and key issues raised in the proposed policy. Newsletter…
DetailsMallinckrodt looks like it could join Purdue Pharma in reaching a settlement in its bankruptcy proceedings related to opioid litigation, after years of legal wrangling. The Ireland-headquartered pharma company filed for bankruptcy last year, after proposing a $1.6 billion payout to settle lawsuits claiming that its marketing of opioid painkillers helped to fuel an epidemic…
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