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Philip Green Responsible For BHS Collapse: UK Lawmakers

Retail tycoon Philip Green's greed and disregard for corporate governance led to the demise of BHS and cost 11,000 jobs, a report by British lawmakers said, calling the collapse of the stores group "the unacceptable face of capitalism", Re ...

Daily Headline - global.abi.org - 07/25/2016 - 22:12 - 0 comments

New Government Fees Will Undermine Insolvency Regime, R3 Warns

New and increased government insolvency fees introduced yesterday will undermine the UK insolvency regime and cost creditors £8m per year, R3 has warned, according to Accountancy Age today. By threatening creditor returns, the government could underm ...

Daily Headline - abi_admin - 07/22/2016 - 12:19 - 0 comments

English Court Decides Who Can Be Foreign Representatives Under Cross-Border Insolvency Regulations 2006

The English Court has recently considered who can be recognized as “foreign representatives” under the Cross-Border Insolvency Regulations 2006 (CBIR) in the case of Re 19 Entertainment Limited , about a US company in chapter 11, the National La ...

Daily Headline - abi_admin - 07/21/2016 - 12:49 - 0 comments

Brexit Puts Brakes On House Buys

Britain’s housing market has taken a post-referendum nosedive with a sharp drop in purchase inquiries at estate agents, a reduction in sales agreed and expectations of falling prices. In its latest survey of estate agents and surveyors, conducted after t ...

Daily Headline - global.abi.org - 07/14/2016 - 22:36 - 0 comments

Modernisation of Luxembourg Company Law - What's New?

Today, the Luxembourg Parliament adopted long-awaited Bill No. 5730 modernising Luxembourg company law. Certain market practices now have a formal legal basis, and discussions on a number of questions have been put to rest. Freedom of contract and fl ...

Resource Article - twallace@abiwor... - 07/14/2016 - 15:56 - 0 comments - 0 attachments

After ‘Brexit,’ Britain Could Look to Norway as a Model

As the political chaos after Britain’s vote to leave the European Union starts to subside, one of the most pressing issues for the country’s new leader is how to keep doing business with the bloc’s vast single market of 500 million consumers. Many are po ...

Daily Headline - global.abi.org - 07/13/2016 - 23:00 - 0 comments

London-Listed Oil Explorer Trinity Suspends Shares As Insolvency Looms

A debt-ridden independent oil explorer has pulled its shares from London’s junior AIM market after restructuring talks with its lender fell apart, The Telegraph reported. Trinidad-focused Trinity Exploration suspended its shares this morning after Ci ...

Daily Headline - global.abi.org - 07/13/2016 - 23:02 - 0 comments

UK Company Pension Deficits Rise £89 Billion In A Month

The pension deficit of UK companies grew by £89bn in just one month, hitting a record level following Britain’s vote to leave the EU, the Financial Times reported. Figures from the Pension Protection Fund showed the total private sector pension short ...

Daily Headline - global.abi.org - 07/12/2016 - 23:35 - 0 comments

Brexit Could Push Northern Ireland Into Recession

Brexit could push Northern Ireland into recession given it’s relaince on the UK, an economist has said, the Irish Times reported. Business activity increased in Northern Ireland in the weeks before the EU referendum. The Ulster Bank purchasing manage ...

Daily Headline - global.abi.org - 07/11/2016 - 21:11 - 0 comments

Bank of England Frees Banks to Lend More After Brexit Vote

The Bank of England moved to boost the U.K. economy in the wake of Britain’s vote to exit the European Union, marking one of the first instances of a major central bank relaxing bank-capital requirements to mitigate a possible economic slowdown, The Wa ...

Daily Headline - global.abi.org - 07/05/2016 - 23:02 - 0 comments

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