The former directors and chief executive of the construction firm are fighting to overturn the Court of Appeal's decision to send the case back to the High Court to determine new penalties for breaching company law.
The former directors and chief executive of the construction firm are fighting to overturn the Court of Appeal's decision to send the case back to the High Court to determine new penalties for breaching company law.
Photo: 123RF
A survey of practioners and members by Restructuring Insolvency & Turnaround Association (RITANZ) indicated the numbers of appointments of liquidators for January and February at the lowest levels in three years. This suggests there may be a number of zombie businesses continuing to operate with the help of government funding, but we may see a number of liquidations in the coming years for those that are unable to repay their debts, RITANZ chair John Fisk said. And that s a problem for our economy because essentially we know that they are eventually going to fail and usually once they do, the debts are higher than they would have been otherwise, and also they end up taking business away from good businesses.
Insolvencies in hospitality industry expected to rise msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.