The number of insolvencies for the year ending June is expected to drop by 40 per cent both here and in Australia. Photo / Getty Images When the Covid-19 lockdown occurred in March of last year, insolvency practitioners braced themselves for a wave of receiverships and liquidations. It didn’t happen. In fact, the number of…
Contributor: Matt Weston, Managing Director – Robert Half UK | Published: 27 May 2021 Matt Weston, Managing Director – Robert Half UK 26 May 2021 85 per cent of UK businesses have restructured in the wake of Januarys Brexit deal, and the majority believe leaving the EU has negatively impacted operations, according to a new…
After more than a year of navigating lockdowns, mandates and COVID-19 protocols, small-business owners are starting to see a light at the end of the tunnel. But the debt many needed to take on to weather the pandemic still casts an ominous shadow. In 2020, 79% of small employer firms (up to 499 employees) reported…
Company insolvency statistics continue to defy gravity but an increase in IVAs shows that personal finances are beginning to take a hit as the impact of the pandemic starts to hit. Insolvency figures released last week by the Governments Insolvency Service show a 23% drop in corporate insolvencies compared to April last year, and a…
Photograph: Shutterstock The steak-and-salad bar chain Sizzler has sued the U.S. Small Business Administration in a last-ditch effort to get a second Paycheck Protection Program loan just days before the fund is expected to dry up, arguing that the agency is improperly putting a hold on the company over its bankruptcy filing last year. The…
Related Articles GamCare has called for UK financial institutions and businesses to work together in ensuring that all gambling block loopholes are closed in order to protect vulnerable consumers. The call for collaboration follows GamCare hosting its Gambling Related Financial Harm workshop in which diverse financial stakeholders shared insights on the design and safety features…
Author: Sarojanand Jha, Founding Partner, Vedanta Legal In a recent landmark decision, the Supreme Court has upheld the challenge to a Notification dated 15th November 2019 (Notification) issued by the Ministry of Corporate Affairs, which brought into force the provisions of the insolvency of Personal Guarantor to the Corporate Debtor. The expression Personal Guarantor is…
Ng Yu Zhi (R), a director of Envy Global Trading, arrives at the State Court in Singapore April 20, 2021. REUTERS/Edgar Su Singapore firms accused of being involved in a $1.1-billion bogus nickel trading scheme should be placed in liquidation as there was no business to be preserved, interim judicial managers at accounting firm KPMG…
Velocity members will now be able to rack up points at 7-Eleven stores. Picture: NCA NewsWire / James Gourley Velocity members will now be able to rack up points at 7-Eleven stores when purchasing fuel and snacks. The new partnership between Virgin Australias loyalty program and the major convenience retailer will allow customers to earn…
Gambling charity GamCare has suggested ways in which gambling-related financial harm can be reduced. In a GamCare-hosted workshop, the charity brought together 45 representatives from financial services and people who have suffered gambling harm. The idea of the workshop was to discuss ways the industry can improve gambling blocks; in recent years, UK banks have…