Old People Are Popular With Fraudsters – A Lawyer Can Be Your Guardian!

Old People Are Popular With Fraudsters – A Lawyer Can Be Your Guardian! The vulnerable and elderly are sadly often targeted by fraudsters, but such risks can be minimised by taking expert advice before entering into important transactions. In one case that proved the point, a cynical and ruthless gang of conmen made over £1 million by fleecing elderly people who wished to sell their timeshare properties. The gang’s modus operandi was to cold-call timeshare owners, offering to help them market their properties. Modest fees were initially requested, but more and more money was subsequently demanded to cover such purported costs as legal fees and taxes. Victims, all of whom…

Administrators Meet $7.3 Billion Challenge of Multinational Group’s Collapse

Administrators Meet $7.3 Billion Challenge of Multinational Group’s Collapse When multinational companies go out of business, huge challenges are presented to insolvency practitioners. The scale of the task they face was revealed by a High Court case involving a once monolithic networking solutions and telecommunications group that had more than 130 subsidiaries in over 100 different countries. After the group collapsed and filed for insolvency protection, its assets were sold and the proceeds – amounting to about $7.3 billion – were placed in escrow. Despite extensive litigation in different jurisdictions, the group’s administrators had, for seven years after the collapse, encountered intractable difficulties in achieving agreement with creditors as to how…