#insolvency

#insolvency

Peter Connelly has been sentenced to 16 months in prison for COVID-19 loan fraud after inflating his company's turnover to secure multiple Bounce Back Loans.

We have reached the point where we can no longer continue to operate in the normal course. Because of this, TPX will be filing what is called a Notice of Intention to Make a Proposal (NOI) under the Bankruptcy and Insolvency Act. I want you to know this is not a step I wanted to take.

The junior energy minister Michael Shanks wrote to Prax Group owners urging them to support workers financially amid concerns of finding a buyer for the struggling refinery.

The firm's business recovery division accounted for more than half of total revenue and benefited from several large, complex insolvency appointments, including significant clients.

Ebusco has reached an agreement on restructuring loans due mid-August 2025, aiming to convert them into liquidity, but requires significant liquidity to continue operating.

Creditors' voluntary liquidations remain the process companies most commonly enter into - and their consistently high numbers reflect the ongoing challenges, high costs and political and economic uncertainty businesses face.

Insolvency can lead to severe legal consequences, such as personal liability for company debts, if directors do not act in the best interests of creditors.

David Snasdell, Chief Investigator at the Insolvency Service, remarked that Roberts had left his victim in a state of utter desperation after wrecking her home.

Lilium's inability to secure sufficient funding, including a critical 50 million Euro loan, has led the air taxi manufacturer to file for insolvency, halting operations.

"A full review of all group holdings commenced in July and has concluded that H&W Group Holdings PLC is insolvent on a balance sheet basis as per its last audited accounts and most recent management accounts."