Member Article Christmas Trading Concerns After Sharp Month-On-Month Increase In Corporate Insolvencies Its impossible to say whether the Christmas trading period will provide a badly needed boost for struggling North East firms or whether itll be the final blow for their finances. Thats the view of the North East chair of insolvency and restructuring trade…
PA Media By Gavin Bevis & Olimpia Zagnat BBC News, East Midlands Nottingham City Council has declared itself effectively bankrupt, meaning it will stop all spending other than services it must provide by law. A recent report said the Labour-run council was set for a 23m overspend in the 2023-24 financial year. It has been…
What Are Debt Consolidation Loans? Debt consolidation loans generally refer to personal loans used to pay off other accounts, leaving you with a single monthly payment. If you have several credit card balances, for example, you can take out a debt consolidation loan to pay them off giving you a single monthly payment thats often…
Nottingham City Council has become the latest local authority to effectively declare bankruptcy as it is unable to fulfil its legal obligation to balance its budget. The state of the council’s spreadsheets has been blamed partly on mistakes of its own making – namely the collapse of an energy firm it launched back in 2020,…
Twelve months after REDcycle’s dramatic collapse, Australians are no closer to a national soft plastics recycling program, leading to calls for the federal government to crack down on the nation’s major supermarkets. Key points: REDcycle stopped collecting soft plastics last November and was declared insolvent in February 44 stockpiles of soft plastics have been reduced…
VIENNA/FRANKFURT, Nov 29 (Reuters) – Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe’s property crash. Controlled by Austrian magnate Rene Benko, the group is an owner of New York’s Chrysler Building as well as several high-profile projects…
Nottingham City Council has declared itself effectively bankrupt, saying it cannot follow through on its legal requirement to balance this years budget. The local authority issued a section 114 notice on Wednesday, halting all new spending immediately excluding in the event of protecting vulnerable people and funding statutory services. The announcement follows reports of financial…
The airline has moved a Delaware court to enforce the arbitration ruling, but has run short of funds to pursue the case after it stopped flying in May. The idea of litigation finance was suggested by Go Firsts resolution professional since all the current parameters are pointing towards liquidation” as the only alternative left, one…
LUXEMBOURG, Nov. 29, 2023 /CNW/ – Lorito Holdings S..r.l (“Lorito”), a private company controlled by trusts settled by the late Adolf H. Lundin, of 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announces that on November 28, 2023, it completed an internal corporate restructuring. As part of the restructuring, Lorito changed its name to Lorito Doraline S..r.l (“Lorito…
Chances are that you can pay your debts off much faster than you are right now even on a low income. FRANCESCO CARTA/Getty Images Debt can be challenging, regardless of how much money you have. On the other hand, if you’re earning a relatively low income, that challenge can seem more like a debt trap…