Liquidation
Castle Trust & Management Services – in Liquidation
The Confetti that was Security for Loan Notes Investigations have uncovered that Castle Trust and Management Services – in Liquidation (CTMS) – engaged in shady business practices. The Administration order made in May 2023 and subsequent Liquidation of the company later in 2023 have exposed some alarming business and administration practices of Steven Knight. Back…
Read MoreCastle Trust & Management Services Ltd (in Liquidation) – An Update on the Liquidation with PwC Appointed Liquidators
Insolvency & Law Ltd sits on the Creditors Committee for the Administration and now Liquidation of Castle Trust & Management Services Ltd (CTMS). Our dedication to advocating for the HSG Loan Note Holders and other related parties remains steadfast. Despite facing numerous challenges and occasional detours. Our Commitment and Challenges From the onset, we have…
Read MoreKNP Logistics: A Cautionary Tale of Cybersecurity
In a shocking turn of events, Kettering-based KNP Logistics Group, the parent company of the long-standing haulage firm Knights of Old, has been forced into administration following a cyber attack. The attack, which occurred in June, has not only affected the lives of its employees, but also serves as a stark reminder of the looming…
Read More50% increase to bankruptcy and liquidation fees
Just months after lifting the temporary restrictions on winding-up petitions, the Government has revealed plans that will make it harder for thousands of SMEs and microbusinesses to collect debts and force debtors into insolvency procedures. The Insolvency Service plans to hike in the cost of two key payments later this year. Firstly, the deposit a…
Read More3 alternatives to liquidation for directors
A clever director will be considering their options as the number of corporate insolvencies continues to rise in 2022. Still, try not to make rash decisions as they can lead to bad results. There are several alternatives to liquidation that can help a proactive director move forward with an insolvent but profitable business. An agreement…
Read MoreAre liquidation committees necessary?
Sometimes when a company is wound up via compulsory liquidation or creditors’ voluntary liquidation (CVL) a liquidation committee is formed to monitor the liquidator’s activities and look after creditors’ interests. Without liquidation committees, liquidators could do as they please and put their own interests over those of creditors. The establishment of a committee gives creditors…
Read More