The recent judgment in MB Refrigeration and Air-conditioning Limited (in liquidation) v- Allied Irish Bank Plc [2016] has clarified what constitutes notice of the liquidation of a company for creditors and banks alike, write Mark Woodcock (pictured right) and Joanne Cooney (pictured below) of McDowell Purcell.In this case the liquidator sought recovery of money paid out of a companys…
DetailsThe leading design firm set up by Ed Dubois in 1977 has closed and gone into liquidation, with its assets being sold through auction. Following the death of world-renowned British designer Ed Dubois last year, we are saddened to report that Dubois Naval Architects has closed and gone into liquidation. Its assets including the iconic…
DetailsBarclays swung to a full-year net profit of GBP1.6 billion ($1.99 billion), as the bank’s management said it was just months away from finishing a restructuring of the U.K. lender. Continue Reading Below The British bank on Thursday said total income was down 3% over the year to GBP21.5 billion, as the bank continued to…
DetailsFebruary 23, 2017 at 6:17 am | By DANICA KIRKA FILE – This is a Tuesday, March 1, 2016 file photo of the sign on a branch of Barclays Bank in London. Barclays Group said Thursday Feb. 23, 2017, that it will complete its restructuring six months earlier than planned as it sheds…
DetailsThe Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) was enacted to make special provisions for the timely detection of sick (and potentially sick) companies owning industrial undertakings. The Board for Industrial and Financial Reconstruction (BIFR) was formed under the SICA to determine the sickness of such industrial companies and to prescribe measures either for…
DetailsLONDON (AP) ” Barclays Group says it will complete its restructuring six months earlier than planned as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. Barclays now plans to close its non-core unit at the end of June after reducing its stake in Barclays Africa to…
DetailsPublished: 23 Feb 2017 Author: Liz Sweeney and Sam Jadhav Applies to: England and Wales Restriction on disposal remains key as European Court of Justice (ECJ) gives its first ruling on the interpretation of the financial collateral arrangements directive in Private Equity Insurance Group SIA v Swedbank AS [2016] The ECJ recently delivered a judgment…
DetailsAssets collect risks around them in one form or another. Inventory is one risk, and accounts receivable is another risk. Michael Dell, founder and CEO of Dell Technologies. All businesses face the ongoing challenge of generating cash flows in excess of their borrowings. If a business is unable to pay its debts owed, it is…
DetailsThe proposal would be put to shareholder meetings in April, Tevin said yesterday. PTT Plc also will change our business focus to energy security, with investments in infrastructure for gas pipelines, LNG (liquefied natural gas) operations, oil and gas exploration, and will partner with our subsidiary for investment in mega-projects, he said at press conference…
DetailsMineral sands miner Iluka Resources has slid to a full-year loss of $224 million on the back of hefty writedowns related to a restructuring of the companys business amid the downturn. The loss was within the $220 million to $230 million range the company had forecast in January, but sharply lower from the previous years…
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