LONDON, Dec 14 (Reuters) – England and Wales saw a 21% annual rise in the number of company insolvencies last month and the second-highest monthly total in figures going back to 2019, published a day after the Bank of England said businesses were coming under increased pressure. Some 2,029 registered companies in England and Wales…
C ompulsory liquidations in November 2022 rocketed to more than five times as many as last year and were 7% higher than in November 2019, new figures released today show, as small and medium-sized businesses feel the pressure of rising prices, higher interest rates and dwindling consumer demand. The number of registered company insolvencies in…
NASSAU, BAHAMAS FTX CEO John Ray III in a congressional hearing into the companys collapse yesterday slammed The Bahamas company liquidation process as lacking transparency, claiming that the pushback being received from the Bahamian government and regulators was extraordinary and irregular. Ray was addressing a House Financial Services Committee hearing into the collapse of the…
Liquidators get paid three times as much to shut down a business as they do to save it, says Australian Small Business and Family Enterprise Ombudsman Bruce Billson, whos called for an overhaul of insolvency laws that are now being reviewed for the first time in more than three decades. ‘Current system not sympathetic to…
Senator Deborah ONeill is chairing the Inquiry into Corporate Insolvency in Australia. (AAP Image/Lukas Coch) The primacy of the Australian Taxation Office (ATO) as Australias biggest creditor when it comes to corporate insolvencies is being put under fresh scrutiny, as the Albanese government puts the spotlight on reforming mechanisms for winding up failed businesses. The…
As we wind down 2022 you may be thinking about ways to get your money in order for the new year. If getting rid of debt is part of your plan you should be careful about how you go about doing it. Debt consolidation company accused of tricking customers One of the first steps to…