Insolvency plan is seen as bankrupt
Article Abstract:
Insolvency practitioners, bankers and lawyers have not reacted very positively to proposals from UK Trade and Industry Secretary Stephen Byers for wide-reaching changes to bankruptcy law. They believe that these changes will lead to a 20% rise in the number of people going bankrupt. There is also opposition to the idea of 'responsible' bankrupts being permitted to retain up to 20,000 pounds sterling of assets to assist recovery. The Treasury, which has been in conflict with the Dept of Trade and Industry on this issue, is due to publish a discussion document shortly.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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New chance for workers to buy into their firms
Article Abstract:
UK Chancellor Gordon Brown has announced plans for a 'Share for All' scheme as part of his 1999 Budget. The government aims to double employee share ownership, with employees escaping liability for both capital gain and income tax if they hold the shares for at least three years. Employers who elect to match their employees' share purchases will receive income tax and national insurance contributions relief. However, smaller companies may still prove reluctant to enter into employee share ownership schemes.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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Old feuds stoked up by MacLaurin's Tesco book
Article Abstract:
Former Tesco Chmn Lord MacLaurin has been very critical in his memoirs, entitled 'Tiger by the Tail - A Life in Business From Tesco to Test Cricket,' of people with whom he worked while at Tesco. Observers have expressed surprise that Lord MacLaurin, who is extremely wealthy, found it necessary to write a book and to cause offence. There has been particular concern about the book within the family of Dame Shirley Porter, daughter of Tesco founder Sir John 'Jack' Cohen.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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