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What’s been happening on the insolvency scene: Twas the season to be jolly! Well not for everyone. HMV finally got stuck in the groove and went into administration. The season for the sale of videogames – well not for Atari and THQ – both failed to get to the next level! In the US things couldn’t get tougher – the milk industry in serious trouble. The United States Postal Service – neither rain, nor sleet, nor hail, nor snow – but financial collapse ended Saturday deliveries. The world’s oldest bank heading for a shut down – Monte Dei Paschi. In Japan Panasonic continued its rapid decline. France’s Virgin Megastore goes bankrupt. Dunlop India goes into liquidation. The English high streets continued to get emptier with Comet, then Jessops, then HMV, then Blockbuster all going bust or cutting back. In Australia Rosella, a household name for decades went bust. Liquidators attract a closer look with fees of over $2 billion for Lehman and the Australian MFS receivership also clocking up significant fees. Ain’t we got fun. Don’t forget if you want the insolvency expert that keep sright up to date with all the latest developments to make sure you achieve the best results – talk to Paul Fordyce of Pmf Legal – an accredited specialist.
Pmf Legal Limited
12 February 2013