Two-thirds of GVP shareholders voted against continuation of the trust in July Associated Capital Group has claimed a vote to liquidate the Gabelli Value Plus+ Trust (GVP) would be short-sighted, as it confirmed it would abstain from voting on whether the trust should be discontinued and, ultimately, liquidated. The GVP board announced on Monday (8…
DetailsMonday, February 8, 2021 In late June 2020, the UKs Corporate Insolvency and Governance Act (the Act) became law.1 While the Act was passed in response to the Coronavirus Disease 2019 (COVID-19) pandemic and its economic ramifications, it represents a significant legislative step forward in promoting the rescue culture in respect of financially distressed business…
DetailsPatrick Olusoji Ekundayo (66), from Edmonton in London, was the sole director of Peaches Limited. The company, incorporated in August 2010, provided catering services and managed social events. At its most successful trading period, Peaches Limited hosted up to 60 functions per year and took an average of 10,000 to 15,000 per event. By March…
DetailsLONDON Boohoo has bought the last batch of Arcadias high-street brands Dorothy Perkins, Wallis and Burton in a deal that marks the end of an era for Sir Philip Greens once-mighty, and now bankrupt, British retail group. Boohoo, which had been in exclusive talks to buy the three names from Arcadia, is paying 25.2 million…
DetailsKPMG believes Soar Aviation was insolvent a year before administration Each day, our subscribers are more informed with the right information. SIGN UP to the Australian Aviation magazine for high-quality news and features for just $99.95 per year Read the full article at: https://australianaviation.com.au/2021/02/kpmg-believes-soar-aviation-was-insolvent-a-year-before-administration/
DetailsFacial recognition, GPS tracking as SA Govt monitors home quarantine $240k for five days’ food: SA’s eye-watering medi-hotel bill ‘Contrary to public interest’: School planning data kept secret Your views: on a US move, religion and politics, Google and news, universities and JobSeeker Not JUST the footy scores This week, in South Australias first executive…
DetailsThe Insolvency and Bankruptcy Code, 2016 was enacted to resolve the stress of companies. Some, however, argue that because the corporate insolvency resolution process (CIRP) rescues only about 25 per cent of companies and leads to liquidation for the rest, the code is not delivering on its mandate. These numbers do tell a story, but…
DetailsAi Group has not requested the government extend the program in its present form and has instead suggested industries and businesses directly affected by the pandemic are given extra support including restructuring and business advice. Many businesses linked to inbound tourism, international students, entertainment venues, and passenger transport among others continue to struggle and, in…
DetailsBig Four accounting and consulting firm PwC has at the dawn of this year appointed 53 fresh partners, with almost half of the new leaders working in its Financial Advisory division. Operating alongside the Assurance and Consulting divisions, PwCs Financial Advisory business provides a range of multifaceted services grounded in financial and economic disciplines. One…
DetailsThere have been a couple of noteworthy pronouncements by the Supreme Court relating to the Insolvency and Bankruptcy Code 2016. These go to strengthen the Code, which an important measure, meant to prevent insolvency by reviving ailing businesses. The Code however, is not a recovery tool for creditors but a resolution mechanism to breathe life…
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