He is a shareholder in Kijani Resources Ltd.Belvedere-owned Kijani funds go into liquidation. Katherine Denham, International Adviser, 30 June 2015. Retrieved 2 October 2015.
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It was forced to go into liquidation and allow itself to be taken over by B&I; in 1926 following a series of strikes. B&I; maintained the Dundalk to Liverpool route as a weekly service until 1968.
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Re Jeavons, ex parte Mackay (1873) LR 8 Ch App 643 is a UK insolvency law case. It decided that a creditor could not reserve an obligation to himself in priority of other creditors if a company were to go into liquidation.
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In 1925 the company had to go into liquidation following a recession, and the building was used by the Western Viscose Silk Company until 1929. In 1968 the building was demolished, leaving only the remnants of the weaving sheds in the Barton Hill Trading Estate on Cotton Mill Lane.
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Later that month, electrical service was shut off to the Canal 10 studios for nonpayment. It would not be until September that XHK would go into liquidation, selling off embargoed assets in order to raise funds to pay the station's employees. In January 2017, the Radio and Television Center was demolished.
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On 11 December 2015, the airline operated its first flight, departing London Gatwick Airport at night and arriving in Freetown Lungi International Airport the following morning. Flights operated twice a week using a Boeing 757 leased from Icelandair. On 17 March 2016, Fly Salone announced it had ceased trading and would soon go into liquidation. No reasons were provided.
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It also produced one off products for the vintage and replica markets. The parent company of Trifords, Markerstudy Group, knew this was running at a loss and had to wait for the company to go into liquidation to remove all the debt before selecting which parts of the company it wanted to keep under the newly formed umbrella of Trifords Ltd.
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He was also the owner of Barnsley for a while, rescuing them from folding after dropping from the Premier League to Division Two and loss of revenue from the ITV Digital collapse. Some saw him as a major mistake at Barnsley as he nearly made the club go into liquidation before Gordon Shepherd and Patrick Cryne took over at Oakwell.
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With dwindling membership numbers after the war, the club's committee realised that it could no longer afford the lease on its clubhouse. An attempt was made to raise the funds to move to 34 Great Cumberland Place, but this failed. In late 1951, the committee voted for the club to go into liquidation, with effect the following year. The club's assets were valued at some £14,500.
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The bank elected to go into liquidation in 2015. Creditors sued, and accepted a final settlement in 2017. CertusBank was the result of the combination of several acquisitions since 2011, including CommunitySouth Bank and Trust of Easley, South Carolina; Atlantic Southern Bank of Macon, Georgia; and First Georgia Banking Company of Franklin, Georgia. Subsequent CertusBank acquisitions included Charlotte, North Carolina-based Myers Park Mortgage, Inc.
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These passengers were advised that they would have to make their own travel arrangements at their own expense. KordaMentha found the airline owed creditors up to $90 million but had only $1 million in assets as much of its equipment was leased. Administrator Mark Korda said the airline was "not saleable" and was likely to go into liquidation. The collapse put 300 employees out of work.
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With a suspension span of centre to centre of towers, it was considered one of the engineering wonders of Sydney and became a great tourist attraction. A toll of threepence return for adults and one penny for children was charged. The disastrous crash of 1892 saw both the above companies go into liquidation. The Depression of the 1890s slowed land sales and Northbridge did not develop as had been hoped; the tramway was not built.
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However, in almost all jurisdictions there are certain types of regulated entity which require a certain amount, or a certain proportion, of paid-up share capital to be licensed to trade. The most common examples of this are banks and insurance companies. This is because if such companies were to fail and go into liquidation the economic effect of such failures can lead to a domino effect, which can have catastrophic consequences for other businesses and, ultimately, national economies.
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By 1958 the financial position of the business was such that there was a call for the company to go into liquidation. In previous years, the policy had been to always appoint directors who had been employees of Jeremiah Rotherham & Co. However, to save the business a compromise was agreed and Nadji Khazam (1910–1984), an outsider from the Anglo-African Finance group, was appointed as a director."More competition from U.S. banks in Europe." Dual Coupon Convertabe. Times, 22 Feb.
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In August 2006, Halifax was on the verge of going bust. The club announced that it needed to raise £90,000 or it would go into liquidation. Rugby league fans nationwide rallied behind 'Fax', and through visits to the ground during home fixtures and other fund-raising events, were able to raise £55,000. Howard Posner then came forward and announced that he would loan the club the remaining £35,000 in order to keep Halifax alive, repayment of the loan was waived.
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In 1896, the Illinois National Bank was overtaken by disaster, largely through the mismanagement of others. In the last days of December 1896 it was forced to go into liquidation. This resulted in heavy pecuniary loss to Schneider, and wiped out of existence an institution which he had spent more than a quarter of a century in building up. Saddened by this event, the later years of his life were spent in practical retirement, much of it with one of his daughters in Kansas City.
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A failed attempt to win promotion at once was followed by relegation to the Championnat National (third level) in 1998. Two years later the club won promotion back to Second Division, but only remained at that level for two seasons. In 2002, the club was relegated again and after another near miss at promotion in 2003, financial problems saw the club go into liquidation and reform in the Championnat de France Amateur. They finished the 2006–2007 season in the Championnat National as 14th.
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In Australia, bankruptcy is a status which applies to individuals and is governed by the federal Bankruptcy Act 1966. Companies do not go bankrupt but rather go into liquidation or administration, which is governed by the federal Corporations Act 2001. If a person commits an act of bankruptcy, then a creditor can apply to the Federal Circuit Court or the Federal Court for a sequestration order. Acts of bankruptcy are defined in the legislation, and include the failure to comply with a bankruptcy notice.
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In March 2007, U.S. securities regulator Roel Campos suggested that AIM's rules for share trading have created a market like a "casino". Campos reportedly said: "I'm concerned that 30% of issuers that list on AIM are gone in a year. That feels like a casino to me and I believe that investors will treat it as such." The comment resulted in several angry retorts, including one from the London Stock Exchange, which controls AIM, pointing out that the number of companies that go into liquidation or administration in a year is actually fewer than 2%.
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Highburton Co-operative closed for business on 27 February 2009. The Highburton Industrial and Provident Society (Highburton Co-op) voted to go into liquidation on 23 March 2010. The former Highburton Industrial and Provident Society (Highburton Co-op) building was acquired on 17 May 2010 by Property Compliance Solutions Limited. From 2010, and following building refurbishment, the property was divided into two leased units, the ground floor being a convenience new shop run by Mr Peter Clegg, and the first floor being occupied by PCS Asbestos Consultants Limited.
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On 12 October 2011 the school website was replaced by a press release headed "Amberfield School to close". It stated that "Amberfield School will close on 31 October 2011 and go into liquidation thereafter due to unsustainable losses". BBC Look East that evening reported that the debts were over £1 million and that the school would in fact close on Friday 14 October 2011, which it did. At the time of closure there were 32 teaching staff and 23 non teaching staff, also 157 pupils, 70 down on earlier levels.
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After that was not met, legal proceedings were carried out against the club to come to an arrangement over the debt within fourteen days or potentially face again going into administration. Livingston were placed into administration on 24 July 2009 by the Court of Session in Edinburgh, and faced relegation to the Third Division, a points deduction or being removed from the Scottish Football League entirely. On 27 July 2009, it was revealed that the club were likely to go into liquidation after owner Angelo Massone said he would refuse a £25,000 offer for the club from their administrator.
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It is often difficult to know, in the midst of a crisis, whether distressed businesses are experiencing a crisis of solvency or a temporary liquidity crisis. In the case of a credit crunch, it may be preferable to "mark to market" - and if necessary, sell or go into liquidation if the capital of the business affected is insufficient to survive the post-boom phase of the credit cycle. In the case of a liquidity crisis on the other hand, it may be preferable to attempt to access additional lines of credit, as opportunities for growth may exist once the liquidity crisis is overcome.
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Reviews were mixed. Most of the critics who attended the first night felt it was a failure, and it looked as if the English Stage Company was going to go into liquidation., cite a letter from Stephen Daldry "I have in our archives letters from members of the audience from the original production of Look Back in Anger demanding their money back. Had we honoured every one of those requests, this theatre would not have been able to survive" Milton Shulman in the Evening Standard, for example, called the play "a failure" and "a self-pitying snivel".
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In March 1920, creditors forced the World to go into liquidation. There were rumours that it would be sold, with possible buyers said to include the United Farmers of Ontario and the Southam newspaper chain, but the daily edition was closed in 1921, with all assets sold to The Mail and Empire. The Sunday World was later sold to The Toronto Star in 1924 to be merged with the Star Weekly. Toronto would not have a Sunday newspaper again until The Toronto Telegram published Sunday editions for a few months in 1957, followed by a more successful introduction by The Toronto Sun of a continuing Sunday edition beginning in 1973.
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In 1989, Ritchie committed $30 million of his own cash to buy Eastern Airlines when it was about to go into liquidation due to financial setbacks and strained union relations (partly due to the aggressive management of owner Frank Lorenzo). In partnership with the unions, Ritchie's plan to take over Eastern Airlines involved the unions taking a 50% pay cuts. The Atlanta Journal-Constitution said this of his potential purchase, “Mr. Ritchie could save an airline integral to the history of the US flying, and place an important brake on the present molting habits of the airline industry.” A Bankruptcy judge denied Ritchie's plan and Eastern Airlines was liquidated.
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In this respect, an administrator is not capable of disregarding other creditors, at least in law. One of the reasons for the partial abolition of administrative receivership was that after the receiver had performed his task of realising assets for the floating charge holder, very little value was left in the company for other creditors because it appeared to have fewer incentives to efficiently balance all creditors' interests.Riz Mokal, Corporate Insolvency Law (2005) 212-6, summarising empirical research that administrative receivership consumed an average of around 25% of estate, against 4.7% costs under US Chapter 11, which compares to the UK's current administration procedure Ordinarily, once the receiver's work was done, the company would go into liquidation.
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Paul Hart had a difficult time as manager of Nottingham Forest; his appointment was initially met with some surprise (he was best known for his involvement with the successful academy at Leeds and as academy director at Forest before his internal appointment). The club's financial problems escalated at the end of the 2001–02 season when the ITV Digital collapse almost bankrupted them. Hart's first season at the helm had been unremarkable as a squad made up mostly of young players achieved a 16th- place finish in Division One. There were fears that Nottingham Forest could go into liquidation during the summer of 2002, but with the sale of players like Jermaine Jenas the financial situation was brought under control and Forest did better in 2002–03.
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The future of North Shields looked bright, as manager Colin Richardson prepared his squad for the challenge of their higher status, winning their first three pre-season friendlies, including a 4–1 demolition of a strong Sunderland AFC side which included several of their FA Cup final line-up. Suddenly, players and officials were hit by the news that a sudden reduction in the valuation of the Appleby Park site meant that insufficient cash would be released to repay creditors in full, and as a result, the administrators were unable to make the agreed ground-share payment of £35,000 to Whitley Bay. Furthermore, it looked inevitable that North Shields Association Football Club Limited would go into liquidation. A group of interested people attempted to re-negotiate the ground share terms with Whitley Bay without success.
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The building is reputedly haunted by the "White Lady" and is open to the public throughout most of the year. In 1995, the property was bought by Keith and Maggie Bell who open the hall and gardens to the public until June 2020 when it was reported that the reporting that the business was about to go into liquidation and the Hall and Gardens would be sold after the effects of the 2020 covid 19 lockdown on the tourist attraction/ The Hall and Gardens had become a major wedding venue, and visitors from around the world come to wander around the gardens as well as the Hall. The gardens are seen as one of the best in the north of the country. Keith Bell wrote a book in 2017 called Blood, Sweat and Scones – two decades at Crook Hall ().
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On 15 January 2018, the BBC reported Carillion was to go into liquidation (as opposed to administration), the company having issued a notice to the London Stock Exchange "that it had no choice but to take steps to enter into compulsory liquidation with immediate effect". The notice anticipated an application to the High Court for PwC to be appointed as Special Managers, to act on behalf of the Official Receiver. Carillion chairman Philip Green (appointed in May 2014) said: Six UK Carillion businesses, including Carillion plc and Carillion Construction Ltd, were liquidated in the first phase. On 19 January, Carillion (AMBS) Limited was placed in provisional liquidation, and on 25 and 26 January 2018 ten UK further companies went into liquidation. Another business went into liquidation on 2 February, followed by ten more on 16 February 2018.
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The 2004–05 National Division Two was the fifth version (eighteenth overall) of the third division of the English rugby union league system using the name National Division Two. New teams to the division included Manchester who were relegated from the 2003–04 National Division One while Waterloo came up as champions of the 2003–04 National Division Three North with Blackheath (champions) and Launceston (playoffs) coming up from the 2003–04 National Division Three South. Wakefield had also been supposed to join the division having finished 13th in National Division One but sadly due to financial difficulties the club would go into liquidation and cease to exist. This season would see the league points system being overhauled in the division with four points being awarded for a win, two points for a draw as well as bonus points being introduced (the Premiership had been using them since 2000) with teams being awarded an extra point for scoring four or more tries during a game or if losing, being within seven points of the victor.
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In 1936 the settlor company, HH Martyn & Co Ltd, from Sunningend Works, Cheltenham, transferred land to trustees to, under clause 2(c), "be maintained and used as and for the purpose of a recreation or sports ground primarily for the benefit of the employees of the company and secondarily for the benefit of such other person or persons (if any) as the trustees may allow to use the same". Clause 2(j) added that the employees would cease entitlement if the number dropped below 75% of them "or if the said land shall at any time cease to be required or to be used by the said employees as a sports ground or if the company shall go into liquidation then the trustees shall ... convey the said land to the General Hospital Cheltenham or as it shall direct." It was argued that this was a non-charitable purpose trust and should fall foul of the beneficiary principle. The claimants were the trustees, the first defendant was the company, who argued clause 2(j) was void for uncertainty, and if not clause 2(c) was also void, and hence the property would be on resulting trust to the company.
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