#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.

"It's encouraging to see hospitality insolvencies down on last year, but they remain historically high when compared to pre-pandemic levels, suggesting this elevated level of insolvencies is the new normal for the industry."

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.

Retailers in the last several years since the COVID pandemic have really been having a hard time with less foot traffic and all of the economic issues.