NEW ORLEANS (WVUE) – A bill to fund incentives for insurance companies cleared a major hurdle in the legislature on Wednesday (Feb.1). After hours of questioning Insurance Commissioner Jim Donelon, the House voted 90 to 8 in favor of House Bill 1, which places $45 million into an incentive fund to help attract insurers to…
Member Article There were 22,109 underlying corporate insolvencies in 2022. This was an increase of 57.3% from 2021s figure of 14,059, an increase of 75% on 2020s figure of 12,632, and an increase of 28.8% on 2019s figure (17,164) There were 118,851 seasonally adjusted personal insolvencies in 2022 an increase of 8% on 2021s figure…
Released 31 January 2023 Next release 28 April 2023 Media enquiries Jason Raj +44 (0)33 3032 9366 Statistical enquiries Stacey Witchell (author) [email protected] David Webster (responsible statistician) 1. Main messages for England and Wales 1.1 Annual summary for 2022 One in 202 active companies (at a rate of 49.5 per 10,000 active companies) entered insolvent…
The Government has opened a consultation process ahead of a proposed EU directive aimed at harmonising some aspects of insolvency laws across the EU. The process is being organised by the Department of Enterprise, Trade and Employment, the Department of Justice, and the Department of Finance. It follows the publication on 7 December of the…
With the pressure on construction companies likely to increase as the recession deepens over the coming year, John Wallace, solicitor and managing director of specialist construction and real estate boutique law firm Ridgemont, examines directors liabilities in the event of a construction company insolvency The construction sector is not immune to the macro-economic events that…
The Parliamentary Joint Committee on Corporations and Financial Services began an inquiry into the effectiveness of Australias corporate insolvency laws in September. Mr Dreyfus said bringing the two systems closer together was a likely topic. Thats one of the things that I expect will be canvassed at the round table, he said. But its been…
An awarding winning residential building company in Victoria has collapsed owing $780,000 to 50 creditors, with the horror of 2022 where more than a dozen firms went under continuing for the industry in the new year. Delco Building Group which won a Master Builders Victoria Excellence in Housing Awards for its transformation of a 1887…
The High Court has dismissed an appeal against the inclusion in an insolvency arrangement of 77,000 in legal fees awarded against a couple whose Rottweiler dogs attacked and severely injured a woman. he appeal on the issue of the inclusion of costs in Mary and Michael Dalys personal insolvency arrangement (PIA) came before Mr Justice…
Senate President Page Cortez has voiced support for bills to create a fund to encourage home insurance companies to return to the state. (Francis Dinh/LSU Manship School News Service) BATON ROUGE The House on Wednesday approved bills to spend up to $45 million toencourage insurance companies to return to the state and to prevent firms…
LONDON In the last few hours, Norwegian carrier Flyr has declared itself bankrupt after over 1.5 years in service, the company states in a press release. In a press release issued on Tuesday evening, Flyr official Erik Braathen stated; Its a sad day. We tried. We gave everything we had of energy, knowledge, and experience,…