Roughly one in three Americans have delinquent debt according to 2022 credit data from The Urban Institute. At 16%, medical debt makes up the highest percentage of debt delinquency, but consumers also default on student loans, auto loans and credit card debt. If someone’s debt is so large that making payments becomes unmanageable (or if paying off…
Deborah Law Deborah Law, partner in the dispute resolution team at Stronachs, has been awarded the certificate of proficiency in insolvency (CPI). She was one of eight candidates from England, Scotland and Wales to earn a merit and she was ranked first of the Scottish candidates. The Insolvency Practitioners Association CPI is a highly regarded…
Managing a companys debts can be a challenge at the best of times. Accessing expert advice can be a great asset, and Voluntary Administration services are a good way to navigate issues and get a company back on track. Administrators are independent advisers that are uniquely qualified to support a business in recovering from financial…
Article 0 Comments The District Court of Shawnee County, Kansas has declared MutualAid eXchange (MAX) insolvent, and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance. The court ruled MAX to be insolvent on August 22, two weeks after the companys board of directors consented to an…
United Arab Emirates 28 August 2023 – Leading global professional services firm Alvarez & Marsal (A&M) today unveiled the Q2 2023 edition of its Middle East Turnaround and Restructuring Survey. The report indicates that Gulf CEOs and business leaders who participated in the survey are feeling lower levels of concern about the economic environment, while…
Laura Pickering of Moore Recovery in Stoke on Trent discusses Director Loan Accounts in insolvency scenarios. Directors Loan Accounts In the ordinary course of business it is not unusual for there to be financial transactions between a Company and its directors. Directors may loan money to their company to assist with cash flow, directors may…
Initiates Voluntary Prepackaged Chapter 11 Proceedings with Overwhelming Support of Key Stakeholders, Including 85%+ of First and Second Lien Debtholders Continuing to Operate Normally, Serve Customers and Deliver High-Quality Therapies to Patients Vendors and Suppliers Expected to be Paid in Full in the Ordinary Course DUBLIN, Aug. 28, 2023 /PRNewswire/ — Mallinckrodt plc (NYSE American:…
Galaxy Digital Acquires FTXs Crypto Assets After Bankruptcy According to court records released late Wednesday, bankrupt crypto exchange FTX has recruited U.S. crypto business Galaxy as an advisor to assist in hedging and selling its crypto holdings. According to the petition, hedging bitcoin and ether will reduce FTXs exposure to adverse market swings before their…