Latest news with #Voluntary
The Hill
01-07-2025
- Politics
- The Hill
Trump refiles lawsuit against Iowa pollster in state court
Attorneys for President Trump refiled a lawsuit against the Des Moines Register and Iowa pollster J. Ann Selzer in state court Monday after moving to drop their complaint in federal court. The complaint filed in Polk County is nearly identical to the one Trump attorneys first brought against Selzer and the newspaper in December, alleging they had violated Iowa's consumer fraud laws by releasing a poll days before the November election that showed former Vice President Harris winning Iowa by 3 percentage points. Trump ended up carrying the Hawkeye State by 14 points. Bob Corn-Revere, the chief counsel of the Foundation for Individual Rights and Expression (FIRE), which is representing Selzer, called the move to state court 'procedural gamemanship.' 'This maneuver was not in response to any settlement and is a transparent attempt to avoid federal court review of the president's transparently frivolous claims,' Corn-Revere said in a statement. The Monday move came a day before a new Iowa law was set to take effect to curb lawsuits intended to chill public speech by burdening respondents with legal fees, commonly known as a SLAPP suit. Attorneys for Selzer, the Des Moines Register, and Gannett, the Iowa newspaper's parent company, are now attempting to keep the suit in federal court. 'President Trump's present Notice of Voluntary Removal would effectively escape the jurisdiction of the federal courts in time to restate his claims in Iowa's state court without being subject to Iowa's anti-SLAPP law,' they wrote in a motion to strike Trump's dismissal in federal court. Trump had sought several times to move the suit to state court. That was where the suit was initially filed, before attorneys for Gannett successfully moved it to have it heard in federal court instead. Trump then attempted to have the case returned to a state venue, filing an amended complaint that added two Iowa plaintiffs, Rep. Mariannette Miller-Meeks (R-Iowa) and former Iowa state Sen. Brad Zaun (R). A judge denied the motion on May 23 and dismissed Zaun and Miller-Meeks as plaintiffs. Trump's lawyers first appealed that ruling on May 30. Then, on Monday, they voluntarily dismissed the federal suit altogether. The complaint filed in Iowa state court the same day includes Zaun and Miller-Meeks as plaintiffs.
Scottish Sun
27-06-2025
- Business
- Scottish Sun
‘Not the proudest moment of my life' – Darts star Rob Cross breaks silence on £450k tax issue that led to ban
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) ROB CROSS admits being banned as a company director for unpaid tax is 'not the proudest moment' of his life. The World No.9 has spoken for the first time after being disqualified from acting as a company director for five years after his business failed to pay more than £450,000 in tax. 1 Rob Cross has broken his silence on his ban Credit: PA Four-time major winner Cross set about making it right and has entered into an Individual Voluntary Arrangement to repay the money. He said: 'It's not the proudest moment of my life. I've done wrong, and I'll hold my hands up to it. 'Going down this route with the IVA to pay the money back means I'm not running. I suppose you make mistakes in life. 'I'm willing to correct them; it's going to tarnish me, but I'm going to do the right thing. READ MORE ON DARTS Little bit of faith Littler takes next step with girlfriend Faith as she jets to New York 'It's been going on for two years. It has taken two years to get to something of a resolution. It's cost me a lot of money to get there. 'It needs to be paid back. This isn't new news to me. I was probably suffering more than two years ago with it.' He added: 'I have to admit it's the only thing I am happy with. It's sorted, it's there now. I can just carry on working, pay it back and move forward. 'I was surprised it took the best part of two years to come out. It was a long wait, but there were so many complicated things. JOIN SUN VEGAS: GET £50 BONUS 'The UK government didn't want me to go bankrupt, which is rightfully so, and I don't think I've needed to. 'I'm sorry to let all of my fans down. I will get it sorted and get back on my feet. Hopefully, it won't linger over me for the rest of my life.' Fans spot perfect way Rob Cross beat Gerwyn Price after Welshman showed off chippy on Sky Sports Former world champion Cross returns to action today as he begins the defense of his US Masters title against Danny Lauby at Madison Square Garden. Cross believes his game is in a good place and he is buzzing to defend the crown in New York. He said: 'Absolutely amazing. I was buzzing walking in. Such an iconic arena. I've been here twice. 'It's been my third time this year. I loved it from day one, but winning it last year was very, very special. 'I've had some new darts and I have to admit, I'm not going to lie, I've had a massive rest. 'I've rested up and sort of tried to build the batteries, that was the aim. 'Even basing it off Copenhagen, I thought I played steady and I was consistent and I never really practised there much, so I'm good. 'I'm mentally good and that's where I need to be.'
Daily Record
27-06-2025
- Business
- Daily Record
Rob Cross admits not proudest moment of his life and says sorry over unpaid tax bill
The former World Champion says he's working to make things right and is sorry for letting the fans down Apologetic Rob Cross admits it wasn't the proudest moment of his life to be found not to have paid his tax bill. But the former World Champion is adamant he's working hard to correct the situation and hopes it doesn't always linger over him. Last month, Cross was disqualified from acting as a company director for five years after his business failed to pay more than £450,000 in tax. The 34-year-old set about making it right and has entered into an Individual Voluntary Arrangement to repay the cash. Alongside the likes of Luke Littler and Michael van Gerwen in New York for the US Darts Masters, Cross opened up on the situation for the first time and told Online Darts: 'I think, look, I've got to talk about it to a certain degree, I think it's fair, it's not my proudest moment of my life. "I've done wrong and I hold my hands up to it and going down this route, obviously the IVA route to pay the money back, means that I'm not running and I'm going to pay that money back. Look, you make mistakes in life and I'm willing to sort of correct, well, say correct them, it's going to tarnish me, but I'm going to correct them, do the right thing. "Headspace? It's been going on for two years. It's took two years to try and get to sort of something of a resolve, it's cost me a load of money to get there, needs to be paid back the money, but at the same time, two years, so this isn't like new news for me. 'I think two years ago, I was probably suffering more with it at certain times trying to sort of get everything sorted, getting your eggs into one line, so you know where you're going with it and I have to admit, it's the only thing that I am happy with now is it is sorted. It's there now, it's out, I can just sort of carry on working, I can pay it back and I can move forward. 'I wasn't surprised, I knew obviously that was coming out. Obviously me personally to blame, no one else around me, but at the same time, I knew it was going to come out, I was probably more surprised that it took the best part of two years to come out, so it was a long way, but there was so many complicated things trying to set stuff up and as the UK government didn't want me to go bankrupt, which is rightfully so, and I don't think I've needed to. It's just getting a plan in and getting that paid, so it just gives me a bit more time. 'I think the difference was, if that would have come out when that was going on, two years ago, I think I would have suffered mentally with it, but where it's been going on in the background for two years. Copenhagen, I think a lot of people sort of expected me maybe to pull out, not play because it come out. I think I've never had so many texts and I think people have texted me and made sure I'm alright and it was more like I should be more suicidal, to be honest. But I'm fine with it, I know what I've done wrong and I know what I've got to do to correct it. 'It's not like it's just breaking in my head, it's breaking in front of everyone else and look, I'm sorry to let all my fans down and other stuff, but I will get it sorted, I will get myself back up on my feet and, hopefully, it won't always linger over me for the rest of my life. If it does, then so be it, we still work.' Cross is defending the title in New York and said: 'Absolutely amazing. I was buzzing walking in. Such an iconic arena. I've been here twice. It's been my third time this year. I loved it from day one, but winning it last year was very, very special. I've had some new darts and I have to admit, I'm not going to lie, I've had a massive rest. I've rested up and sort of tried to build the batteries, that was the aim. Even basing it off Copenhagen, I thought I played steady and I was consistent and I never really practised there much, so I'm good. I'm mentally good and that's where I need to be.'
Time Business News
24-06-2025
- Business
- Time Business News
What Is Members' Voluntary Liquidation and How Does It Benefit Company Directors?
For directors of solvent companies, choosing how and when to close their business is an important decision — especially when looking for a tax-efficient and structured exit. Members' Voluntary Liquidation (MVL) offers a formal solution that allows directors to wind up a solvent company in a way that maximises returns and ensures legal compliance. A Members' Voluntary Liquidation is a formal process for closing a solvent limited company — meaning the company can pay all its debts in full, including any outstanding taxes and liabilities. It is governed by the Insolvency Act 1986 and must be administered by a licensed insolvency practitioner. The MVL process begins when directors make a formal declaration of solvency, confirming the company is financially stable and able to settle all debts within 12 months. Once this declaration is made, shareholders pass a resolution to wind up the company. From this point, the insolvency practitioner takes control of the company's affairs. Their role is to: Realise the company's assets Settle all outstanding liabilities (if applicable) Distribute the remaining funds to shareholders. One of the primary reasons directors choose an MVL is the potential to significantly reduce their tax liability when extracting profits from the company. Funds distributed via an MVL are generally treated as capital gains, not income. This means shareholders may benefit from Capital Gains Tax (CGT) treatment, often at a lower rate than Income Tax. Even more attractively, many directors qualify for Business Asset Disposal Relief (formerly Entrepreneurs' Relief), which reduces the CGT rate on the first £1 million of lifetime gains. For directors with large retained profits, this tax saving can be substantial compared to withdrawing funds via dividends, which could attract tax rates of up to 39.35%. An MVL is initiated by the company's directors and shareholders, which means it offers a high level of control and transparency throughout the process. This flexibility makes MVLs particularly appealing to directors who want a well-planned exit, allowing them to: Prepare for the closure in advance Choose the right time for tax planning Ensure a smooth transition, especially if retirement or business restructuring is involved. An MVL provides a definitive legal end to the company's existence, ensuring all loose ends are tied up and all creditors are paid in full. For directors, this offers peace of mind. Once the MVL is complete and the company is removed from the Companies House register, there are no lingering obligations, outstanding paperwork, or compliance issues to worry about. It also demonstrates to stakeholders that the business was closed properly and in full accordance with the law. An MVL is often a reflection of success — used when a company has achieved its goals and is no longer needed. It offers a dignified and professional way to close down. Directors can present the closure as a strategic move, whether stepping into retirement, relocating, or simply moving on to a new venture. It also ensures that any remaining profits are distributed fairly and efficiently among shareholders, preserving goodwill and supporting future opportunities. A Members' Voluntary Liquidation is only suitable if the company is solvent — that is, it can pay all of its liabilities in full, usually within 12 months of liquidation starting. If your company has unmanageable debts, owes money to HMRC, or cannot meet its obligations, an alternative procedure such as a Creditors' Voluntary Liquidation (CVL) may be more appropriate. At Clarke Bell, we offer a free consultation to assess your company's position and determine whether an MVL is the right route. We work closely with directors and accountants to provide clear, tailored advice. A Members' Voluntary Liquidation is an excellent option for directors looking to close a solvent company efficiently, reduce tax liabilities, and make a clean break. Whether you're planning for retirement, restructuring your business affairs, or winding down a dormant company, an MVL offers control, tax benefits, and legal certainty. TIME BUSINESS NEWS
Scottish Sun
24-06-2025
- Business
- Scottish Sun
Wagamama founder's beloved UK restaurant chain is on the edge of collapse
The Thai chain has six restaurants across the UK IN HOT WATER Wagamama founder's beloved UK restaurant chain is on the edge of collapse Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A BELOVED restaurant chain created by Wagamama's founder is on the brink of collapse. It put the future of the Thai restaurant chain, which has has six locations in the UK, in doubt. Sign up for Scottish Sun newsletter Sign up 2 Busaba Eathai has filed a notice of intention to appoint an administrator Credit: Alamy Busaba Eathai filed a notice of intention to appoint an administrator on Friday June 13 at the High Court. The notice means that the company hasn't yet filed for administration, leaving some uncertainty over what exactly could happen. Alternatives to appointing an administrator are still available, including selling the brand to avoid its collapse. The chain was launched by Wagamama founder Alan Yau in 1999, and had 16 restaurants across the UK at its peak. However, four branches closed in 2020 following a Company Voluntary Arrangement, leaving 12 sites based in London. Over the last few years, the chain launched several new projects to try and cope in the tumultuous restaurant industry post-pandemic. In 2022, they opened an izakaya-inspired bar called Ajia, as well as a new restaurant in Oxford. These didn't last long, closing down in 2023 amidst falling profits. Last year, the restaurant chain announced an overhaul of their London Westfield Stratford site, as well as a new trial restaurant. Why are so many shops going bust? They hoped to appeal to younger audiences with a range of small plates and an emphasis on drinks. The CEO, Winston Matthews told MCA in March: "It will be a bit more vibey, more high energy, whereas Busaba is more relaxed and at the top end of premium casual dining." Busaba planned to trial the more budget-friendly restaurant for 18 months, but now only operate a single site at Westfield Stratford that seems to conform with the rest of the chain's brands. In recent months, other branches of the chain have closed including its sites in Bloomsbury and Kingston. A Facebook post announcing their Bloomsbury closure reads: "It's with great sadness that we announce the closure of our Bloomsbury restaurant, as our lease has come to an end. "After many wonderful years, we've agreed with our landlord that it's time to say goodbye to this beloved location." Just six sites of the chain remain, with five in London, and one in Lakeside Shopping Centre in Essex. At the time of reporting all the sites remained open as usual. What does going into administration mean? WHEN a company enters into administration, all control is passed to an appointed administrator. The administrator has to leverage the company's assets and business to repay creditors any outstanding debts. Once a company enters administration, a "moratorium" is put in place which means no legal action can be taken against it. Administrators write to your creditors and Companies House to say they've been appointed. They try to stop the company from being liquidated (closing down), and if it can't it pays as much of a company's debts from its remaining assets. The administrator has eight weeks to write a statement explaining what they plan to do to move the business forward. This must be sent to creditors, employees and Companies House and invite them to approve or amend the plans at a meeting. A Notice of Intention is used to inform concerning parties that a company intends to enter administration. It is a physical document which is submitted to court, usually by directors aiming to prevent a company from being liquidated. Like with a standard administration process, a Notice of Intention stops creditors from taking out any legal action over a company while they try and rectify the business. Busaba's menu includes a range of curries, noodle-dishes, and grills. Earlier this week, the chain celebrated its 25th anniversary with a 50 per cent discount on food from June 15-19. They emphasise community, saying on their menu: "We want to bring our guests together, leaving them in a better state of mind - satisfied, rebalanced and recharged." The Sun has contacted Bubala and their representatives Francis Wilks and Jones for comment. The hospitality industry has been under extra pressure in recent years, with a string closing down. There are extra pressure on independent businesses, where restaurants, pubs and cafes have been forced to close down due to rising costs and a drop in demand from Brits, who are suffering from a drop in disposable income. A steak chain with sites in Bristol and Cardiff announce it was closing down both restaurants in April. While Gordon Ramsey also shut a burger restaurant in Reading in the same month. Even well-known pizza chains have been faced with closures, like Papa Johns which confirmed that 43 of its restaurants would shut down in the coming months. More closures could be on the horizon due to upcoming hikes in employer National Insurance Contributions (NICs) and the national minimum wage.
