Eleanor Temple, chair of the UKs insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds There were 6,208 seasonally adjusted corporate insolvencies in Q3 2023, a fall of 1.8% compared to Q2 2023s figures of 6,319 and a 10.2% increase compared to Q3 2022 (5,635). Q3 2023s figures…
NEW HAVEN Every few months this year, the US government appears on the verge of shutting down. It happened in May, when congressional Republicans initially refused to raise the debt ceiling, and in September, when Congress managed to avert a last-minute shutdown by passing a stopgap bill to keep the federal government open until November…
Member Article R3 responds to Q3 2023 insolvency statistics There were 6,208 seasonally adjusted corporate insolvencies in Q3 2023, a fall of 1.8% compared to Q2 2023s figures of 6,319 and a 10.2% increase compared to Q3 2022 (5,635). Q3 2023s figures were also 54.8% higher than Q3 2021s figure of 4,010 and 41.3% higher…
Courtesy of Karolina Grabowksa via Pexels If you’re considering debt consolidation, you’re not alone. According to the Federal Reserve Bank of New York, household debt in the U.S. increased by more than $7,000 from 2020 to 2022. Many people have since started turning to debt-consolidation apps and other credit-relief options for help. Better Business Bureau…
QIWI Provides Update on Corporate Restructuring NICOSIA, CYPRUS – November 3, 2023 – QIWI plc (NASDAQ and MOEX: QIWI) (“QIWI” or the “Company”), an innovative provider of cutting-edge payment and financial services, today announced it has received from the NASDAQ Hearing Panel (the “Panel”) the extension of the period for completion of the restructuring process…
A government move to protect homebuyers in bankrupt real estate projects is yet to take concrete shape given the way developers structure their projects, two people aware of the matter said. The so-called reverse bankruptcy framework was first proposed by the ministry of company affairs in a discussion paper in January. It would apply the…
NEW YORK, Nov. 3, 2023 /PRNewswire/ — Jay Goffman, the former Global Head of Restructuring at Skadden Arps and Steve Smith, the former Global Head of Restructuring and Leverage Finance at UBS announced the launch of their boutique restructuring advisory firm Smith Goffman Partners LLC. Smith Goffman Partners is the only restructuring advisory firm that will…
Pictured (leftright): Damian McParland, Jason Byrne, Caroline Prunty and Jan Cunningham Northern Ireland firm Millar McCall Wylie has appointed Jason Byrne as director with a focus on growing its insolvency services. A highly-specialised solicitor with years of experience in dealing with corporate and personal insolvency in Northern Ireland, Mr Byrne joins from a national firm…
Bad Shepherd Brewing Co., Cheltenham based craft brewery and brewpub operator, has successfully emerged from voluntary administration after creditors today approved a financial restructuring of the business. Business owners Dereck and Diti Hales appointed DBA Advisory as Administrator on 10 October 2023. This was a necessary step to deal with financial losses from a difficult…
Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) on Friday admitted a plea seeking insolvency process against Compuage Infocomm. Plus Plus Unified Engagement, one of the financial creditors to the company, moved Section 7 application under the Insolvency and Bankruptcy Code to initiate insolvency proceedings against the company. Section 7 petition was…