A builder who broke his bankruptcy order by taking thousands of pounds in deposits before carrying out substandard work has received a suspended jail sentence. Exeter Crown Court heard that James Prentice, 41, of Kingsbridge, Devon, was declared bankrupt in 2014 but was allowed to continue working through his company JSP Woodworx, provided he did…
DetailsYou need to make sure that debt consolidation makes financial sense for you. Debt consolidation can be a good way to take control of your finances. One of the advantages of debt consolidation is that you’ll simplify the process of becoming debt free. You will have only one loan to pay instead of having multiple…
DetailsPersonal Insolvency arrangements have been approved by the High Court that will allow former newspaper owner John Sheils and his wife businesswoman Susan Casey continue to make mortgage payments on their Co Kilkenny home until they are in their mid-eighties. The approval, made by Mr Justice Mark Sanfey, will see the couple retain their family…
DetailsUnsecured creditors in formerly ASX-listed, failed Gold Coast-based dental company Smiles Inclusive have been dealt the final nail in the coffin of their dreams to recover investments, including joint venture partner (JVP) debt claims of close to $100 million. Following a creditor vote last Wednesday in favour of liquidating Smiles Inclusive’s Totally Smiles (TS) dental…
DetailsCrown Resorts expects net debt of AU$900m ($676m) for the full year ended 30 June 2021. The companys EBITDA after closure costs is predicted to be between AU$90-100m. Crown also expects to record a statutory loss after tax for the full year. Last years AU$450m project finance facility, meant to support the construction of Crown…
DetailsJuly 5, 2021 Intelsat, currently managing its way as a Debtor in Possession of its Chapter 11 bankruptcy restructuring process, has asked its court to confirm its June 23rd appointment of a restructuring advisor. Intelsat requested the bankruptcy courts permission on July 2nd to retain Portage Point Advisors LLC to render independent financial advisory services…
DetailsThe number of corporate insolvencies recorded in the first six months of the year was down 38% compared to the first half of 2020, according to new figures from Deloitte. 169 corporate insolvencies were recorded between January and June, compared to 273 during the same period last year. In the second quarter of this year,…
DetailsThe Autocare Services business unit has returned to LINX Cargo Care Group. This development follows Autocare Services exiting voluntary administration on 1 July 2021. The Voluntary Administration process for Autocare Services has completed following the implementation and effectuation of its creditor-endorsed Deed of Company Arrangement (DOCA) proposed by LINX CCG. The end of this process…
DetailsDiageo has challenged an order of Indias Prevention of Money Laundering Act court, which permitted the sale of assets seized from Vijay Mallya to repay a consortium of banks some of the 1.15 billion they claim he owes to them. (Photo: Wiki) Last month the Indian courts allowed the sale of shares Mallya held in…
DetailsExeter Crown Court sentenced James Prentice, 41, from Kingsbridge in South Devon, to six months imprisonment suspended for two years, and 150 hours of unpaid work. He was also ordered to pay compensation of 4,500 to his victims after the prosecrtuin brought by the Insolvency Service. The court heard that Prentice was declared bankrupt in…
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