Draft law to reform insolvency procedures: group-wide pre-bankruptcy agreements – International Law Office (registration)

Bankruptcy

Introduction Group-wide pre-bankruptcy agreements Rordorf Commission draft proposal Comment Introduction The Rordorf Commission was established by the minister of justice on January 28 2015, with the aim of developing draft legislation to reform the existing Insolvency Act.(1) On February 10 2016 the commission finalised its draft legislation and recommended a new approach to safeguard financially…

Unemployed ex-gambling addict has £30k of debt but uses his benefits to splurge £2500 on washing machine and top … – The Sun

Gambling

TONIGHTS episode of On Benefits & 40 Grand In Debt sees an unemployed dad-of-three with £30,000 of debt decide whether or not coming off benefits is worthwhile. David, 29, from Hartlepool and girlfriend Rebecca have £30,000 worth of loans and bills to pay off, but half of their Job Seekers Allowance goes on paying off…

Advisers paid 21000 average for helping struggling debtors – Irish Times

Bankruptcy

Personal insolvency practitioners were paid 557,807 for advising people struggling with overall debts that totalled 397 million under the State-funded Abhaile financial aid scheme for the final three months of 2016. A previously unpublished analysis of the scheme, run through the Money Advice and Budgeting Service (Mabs), shows that the average payment made to the…