A marginal increase in corporate insolvencies was recorded in Ireland in 2020, according to the latest insolvency statistics published by Deloitte. The total number of corporate insolvencies recorded in Ireland in 2020 was 575, representing a marginal increase of just 1% from 2019, when the total number recorded was 568. Commenting on the figures, David…
Xinja surprised shareholders and customers when it announced in mid-December it would close all bank accounts and terminate its banking license. The neobank had promised to shake-up the banking industry and blamed COVID-19 and a tough capital raising environment for the decision. However, The Age and Herald revealed the bank had pinned all hopes on…
Despite the pandemic putting pressure onthe Dutch economy, 2020 saw remarkably few Dutch businesses go bankrupt. A total of 2,703 companies were declared bankrupt last year, 16 percent less than in 2019 and the lowest number since 1991, Statistics Netherlands reported on Tuesday. The stats office attributed the low number of bankruptcies to the coronavirus…
Photo: Depositphotos.com In total, 2,703 companies were declared bankrupt in the Netherlands last year, the lowest figure in 20 years, national statistics agency CBS said on Tuesday. The total is down 16% on 2019, due to the impact of government support measures for companies hit by the coronavirus crisis, the CBS said. Economists and other…
A SOUTHERN Downs man has claimed it was pure desperation that drove him to file a false insurance claim worth almost $30,000 as a means of covering his gambling debts. Stan John Slabosz abandoned his family caravan on an isolated piece of land outside Warwick on August 5, then returned home and reported it as…
Increasing the financial eligibility criteria will give more people access to debt relief orders and help them get out of problem debt Research shows that more people are seeking debt advice and are likely to require financial relief Proposals have been outlined by the government to increase the financial eligibility criteria for debt relief orders…
India has recently extended the suspension of insolvency proceedings by another three months until March 25, as corporates are struggling to cope with the pandemic. While the measure is bound to lighten their burden, policymakers will need to plan to prevent the resolution process’s snarl-up. On March 24, 2020, the minimum threshold for default under…
Xinja surprised shareholders and customers when it announced in mid-December it would close all bank accounts and terminate its banking license. The neobank had promised to shake-up the banking industry and blamed COVID-19 and a tough capital raising environment for the decision. However, The Age and Herald revealed the bank had pinned all hopes on…
Michael Martin (44), from Erith in Kent, has been banned from acting as a director or directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company after he failed to provide records to account for 1.14m in payments. ADM Skips was incorporated in June 2017…
GJES London Ltd, an electrical contracting company, was incorporated in October 2011 and Grzegorz Jarnot became the sole director on the same day. The company traded for over seven years before going into creditors voluntary liquidation in April 2019 as it was unable to pay its debts. A subsequent investigation by the Insolvency Service found…