British Steel has entered insolvency after the government refused to provide it with a 30m loan, saying the terms the company and its private equity owner Greybull Capital were asking for would have amounted to unlawful state aid. Here are the answers to some key questions. What has gone wrong at British Steel?When Greybull Capital…
DetailsWith your permission Mr Speaker, I would like to make a statement about British Steel. It was announced this morning that the court has granted an application by the Directors of British Steel to enter an insolvency process. Control of the company will now pass to the Official Receiver an employee of the Insolvency Service…
DetailsSir Philip Green and his wife have offered to pump 100m into Arcadias pension scheme in a desperate bid to win backing for a radical restructuring of their retail empire that will include 23 shop closures and a complete retreat from America. Arcadias restructuring plans follow weeks of fraught wrangling with landlords and the pensions…
DetailsSubj:Disclosure under Regulation 30(2) read with Schedule III of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 – Brief Particulars of Invitation of Resolution Plan of Punj Lloyd Limited Dear S/M, Pursuant to Regulation 30 (2) of Securities and Exchange Board Of India (Listing Obligations & Disclosure Requirements) Regulations, 2015…
DetailsRequests made by liquidators, administrators and trustees in bankruptcy to professional accountants for information relating to an insolvent company or individual are commonplace. Yet despite existing ICAEW and ACCA guidance, there remains a lack of understanding around the extent of the accountants obligations in this context. What is the position? Upon a request by a…
DetailsWoman who claims her bankrupt ex-boyfriend left her with $200K property debt is furious to spot him posting loved-up Instagram snaps from a $5K holiday with new girlfriend Chantel Green, from Mandurah, Australia, broke up with her Canadian boyfriend David Jones declared bankruptcyand stopped paying mortgage for their house Ex left her to pay a…
DetailsImage copyright Getty Images Topshop tycoon Sir Philip Green plans to close 23 stores, putting 520 jobs under threat, as part of a rescue plan. Under the proposal, Burton, Dorothy Perkins and Topshop stores will close and rents will be cut at another 194 stores at the Arcadia group. It is another blow to the…
DetailsThere are a number of people trying to understand what credit card churning is and that is why National Debt Relief aims to help consumers by explaining what this process is. The article titled “What Is Credit Card Churning And Should I Try It?” released May 1, 2019, aims to give people a better understanding…
Details(Reuters) – The collapse of British Steel has once again put private equity owner Greybull Capital in the spotlight for the wrong reasons. Run out of London by Frenchman Marc Meyohas using family money, Greybull is well known for buying up companies in distress on the cheap with the aim of turning them around. But…
DetailsBritish Steel has collapsed, putting more than 4,000 jobs directly at risk and threatening a further 20,000 in the companys supply chain. The company has been put into compulsory liquidationafter talks broke down between the government and British Steels private equity owners Greybull Capital. … Read the full article at: https://www.independent.co.uk/news/business/news/british-steel-collapse-insolvency-administration-job-losses-scunthorpe-a8924821.html
Details