Insolvency

Insight / Quarterly company insolvencies fall in Q2

Despite a number of high profile insolvencies hitting the headlines, the number of companies entering administration in England and Wales fell during the second quarter of this year

Insight / Insolvency Service consults on single regulator for practitioners

The government has launched a consultation on the current regulatory framework for insolvency practitioners, which includes considering whether to establish a single regulator for the sector

Insight / Welsh cheese company enters administration

Paul Dumbell, director, and David Costley-Wood, partner, at KPMG have been appointed as joint administrators to GRH Food Company Ltd, a Snowdonia-based cheese processing business, which has collapsed after 30 years of operation with the loss of over 80 jobs

Insight / Retail chain Select fashions CVA deal

High street fashion chain Genus UK Ltd, trading as Select, has agreed a company voluntary arrangement (CVA) after it went into administration in early May putting hundreds of jobs at risk

Insight / Top Shop owner Arcadia agrees CVA

The Arcadia retail group has survived a series of votes over seven company voluntary agreements (CVAs) which saw landlords agreeing to rent reductions on stores

Insight / Leonard Curtis opens offshore office in Guernsey

Restructuring specialist Leonard Curtis Business Solutions Group has opened its first offshore office in the Channel Island of Guernsey to provide specialist insolvency services and asset protection

Insight / Fraudsters in Ponzi-style housing investment jailed

Two student housing investors have been jailed after establishing a ‘Ponzi’-type scheme to pay-off financiers of their previously failed companies by defrauding clients

Accounting / RSM administrators to failed peer-to-peer lender

RSM Restructuring Advisory has been appointed joint administrators at three companies within the Lendy Group, marking one of the biggest collapses in the peer-to-peer lending market to date

Insight / KPMG administrators to failed Scottish IT company

Blair Nimmo, partner, and Alistair McAlinden, director, of KPMG have been appointed joint administrators of Scottish IT company Hutchinson Networks Ltd, which has collapsed following cashflow difficulties, with the loss of 100 jobs

Insight / EY to handle British Steel administration

EY has been called in to handle the administration of British Steel after last-minute attempts to arrange a rescue deal failed and the government announced the company has gone into compulsory liquidation

Insight / Administration on menu at Jamie Oliver restaurants

Celebrity chef Jamie Oliver’s restaurant group has gone into administration after failing to secure additional financial backing with administrators KPMG closing all but threee restaurants immediately

Accounting / Recovering cryptoassets after business insolvency

Thomas Hulme, cryptoasset specialist at law firm Mackrell Turner Garrett, examines the rules of insolvency and cryptoassets, and how creditors can recover money from an insolvent person or business’s digital wallet

Insight / Horse racing investors face multimillion insolvency losses

Members of a horse racing syndicate, Layezy Racing Owners Club, whose owner has been declared bankrupt face losing millions of pounds, because the insolvency means the horses are not able to run under the regulations of the racing industry’s ruling body

Insight / Airline insolvency proposals may fail to take off

The government’s independent airline insolvency review, set up in the wake of the collapse of Monarch Airlines in 2017, has recommended developing a special administration regime (SAR) to keeping aircraft flying in order to repatriate travellers, but has run into industry opposition

Insight / Bolton Wanderers Football Club enter administration

Troubled Bolton Wanderers Football Club has gone into administration and faces a 12-point deduction next season as the club is relegated to League One
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