There were 4,187 total underlying company insolvencies in Q1 2019, 6.3% more than in Q4 2018. Compared to the same quarter last year, this was an increase of 5.1% and marks the second highest underlying level of insolvencies in any quarter since Q1 2014. The hike was driven by increases in company voluntary liquidations (CVLs)…
Australias most infamous property spruiker Rick Otton, the controversial How To Buy A House For $1 author, has filed for bankruptcy, crippled by the largest fine in corporate history. It comes five months after he and his company were fined $18 million for misleading property investors following ACCC legal action. The Federal Court judgment found…
News 30 Apr 2019 02:17pm The number of UK businesses in significant financial distress in the first quarter of 2019 has increased 1.4% year-on-year to 484,000 The latest Red Flag Alert from independent insolvency firm Begbies Traynor has found that 16% of all UK businesses were in financial distress at the end…
A South Yorkshire catering and mobile food delivery business has ceased trading after being declared insolvent. Acorn Fine Foods, trading as Peckish, who ran routes around the Doncaster area, has taken its vans off the road alongside ceasing food production at its catering facility in Carcroft. It employed ten people. The proposed Liquidator,…
Total individual insolvencies fell 8.1% to 31,527 in Q1 this year from an eight year high in Q4 2018 when they stood at 34,287, data showed. However, personal insolvencies are up 16 per cent year-on-year and Individual Voluntary Arrangements (IVAs) have risen 24 per cent in the same period, according to the latest Insolvency…
The presence of ineligible candidates on ballot papers could expose election results to challenge even if the winners are qualified to sit in parliament, an academic has warned. The University of New South Wales constitutional academic George Williams issued the warning after at least two bankrupts Rodney Culleton and Fraser Anning candidate Julie Hoskin successfully…
The number of people going bankrupt across England and Wales is predicted to have jumped to its highest quarterly level since 2014 in official figures released on Tuesday. The Insolvency Service is due to release personal insolvency figures for the first quarter of 2019. These are made up of three types of personal insolvency bankruptcies,…
April 29th, 2019 Sam Chambers Asia, Tankers 0 comments Creditors have until May 7 to submit claims as Daniel Chopras Elektrans Shipping has finally been declared insolvent. Insolvency proceedings against the Indian owner started earlier this month with the process estimated to be concluded by October 20. The tanker players downfall has been a long…
The number of people going bankrupt across England and Wales is predicted to have jumped to its highest quarterly level since 2014 in official figures released on Tuesday. The Insolvency Service is due to release personal insolvency figures for the first quarter of 2019. These are made up of three types of personal insolvency bankruptcies,…
Former One Nation senator Rod Culleton (left) leaves the financial services royal commission in Melbourne. Picture: Aaron Francis. The successful nomination of two candidates who are undischarged bankrupts has highlighted the Australian Electoral Commissions inability to ensure compliance with the section of the Constitution which led to the resignation of 17 senators and MPs and…