Tag: companies going insolvent
Extensions made to some of the Coronavirus Corporate Insolvency Provisions
Four sets of extensions were granted by the Government on 29 September 2020 to the temporary provisions introduced by the Corporate Insolvency and Governance Act 2020 which had been due to expire on the 30 September 2020. This will be of particular interest to Company Directors that an extension was granted in relation to the... Read more »
The continued cost of the failure of Thomas Cook
It has been reported that Thomas Cook had initially approached the Government for a loan of £200 million to make up a shortfall in its funding to avoid going insolvent, however this loan was not made and the government avoided setting a precedent which others might have sought to follow. With the last of the... Read more »
Insolvency continues to be a worry for companies and individuals
The demise of Thomas Cook was a reminder that businesses and individuals are still finding the current economic situation difficult. The latest figures from The Insolvency Service, show that 4,321 companies entered insolvency between April and June 2019, a 2.6% increase on the first quarter of the year and in percentage terms the figure is... Read more »