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Well, the Kaiser Chiefs did say it might happen! Elsewhere in the news the Telegraph have reported that fewer firms are experiencing financial distress. This may have been the case pre-riot but firms, especially insurance companies, must now be facing some unexpected bad news. The personal insolvency figures might of course improve as a consequence of the illegal wealth redistribution that has been occurring.
Elsewhere, Accountancy Age have published an interesting piece on the effects of the recent Supreme Court decision in Belmont. There is also more glum news for the Scots according to the BBC and R3. Finally, Accountancy Age are reporting that insolvency and restructuring bonuses are to top £11,000. Great news for IPs if the shops had anything in them to buy!
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...