#insolvency

#insolvency

Investors claim that, when the facade was exposed, they still hoped they could be bailed out by the £157m worth of diamonds they were told were held in stock. However, the remaining gemstones were valued at just £100,000, a BBC Panorama investigation claims. In 2021, allegedly incorrect accounting figures were published on Companies House, recording sales of more than £100m when the real sales figures that year were reportedly only £5m.

The club's management stated it had to file for insolvency, not because we're already unable to pay, but because we soon would be.

Edinburgh City will appeal a 15-point deduction imposed by the Scottish Professional Football League due to a provisional liquidator appointment for an unpaid debt.

"The fact that we, as the proven victims, are not recouping the extorted funds, even though they have been confiscated, has derailed our restructuring efforts."

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.

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.