The number of people going financially insolvent across England and Wales hit a three-year high in 2022, according to official figures. In addition, the number of company insolvencies jumped to the highest level since 2009 last year, in further signs of the impact of tough economic conditions on people and businesses. Some 118,850 people went…
LONDON, Jan 31 (Reuters) – More companies suffered insolvency last year in England and Wales than any time since 2009, government figures showed on Tuesday, reflecting the end of coronavirus pandemic support that helped many smaller businesses stay afloat. Total insolvencies rose to 22,109 in 2022, their highest since the global financial crisis and up…
Embattled Australian furniture retailer Brosa has just been placed into liquidation. On Tuesday afternoon, creditors of the home decor retailer voted to wind up the company. The collapsed firm reportedly owes $24 million, including $10 million to customers from unfulfilled orders. It only has $4.3 million in assets. It comes just over a month after…
Just days after Lightyear announced it was halting production on its flagship Lightyear 0 model to refocus on its more affordable Lightyear 2, the Dutch solar car companys main subsidiary, Atlas Technologies, has been declared bankrupt. The subsidiary is the main production company and the employer of Lightyears staff, so the bankruptcy affects 600 workers…
BATON ROUGE, La. (LSU Manship School News Service) – Legislators kicked off a special session Monday to address one agenda item: whether to approve $45 million for an incentive fund to persuade home insurers to come back to the state. Two bills were introduced in the House Monday: one to appropriate funds for the Insure…
Two bills were introduced: one to appropriate funds for the Insure Louisiana Incentive Program and a second to place some restrictions on the use of those funds. BATON ROUGE, La. Legislators kicked off a special session Monday to address one agenda item: whether to approve $45 million for an incentive fund to persuade home insurers…
DOF says it is probable that the company will be judged insolvent as they put forward final proposal to shareholders (DOF file photo)Published Jan 30, 2023 1:18 PM by The Maritime Executive The new board of directors of Norwegian offshore operator DOF is back with a new proposal to refinance the company and lower its…
Between 2017 and 2022, 11 property & casualty insurers domiciled in Florida were declared insolvent and placed into liquidation. In an attempt to restore stability to the marketplace, Governor Ron DeSantis issued a proclamation on April 26, 2022, calling the Florida Legislature into special session to reform Floridas Insurance Code. While the ensuing May special…
A new contractor has been appointed to constructa controversial Northwich incinerator after the previous builders collapsed. The Guardian reported last January howCNIM – a UK subsidiary of the engineering contractor working on theLostock Sustainable Energy Plant (LSEP) was declared insolvent and entered administration. In response, LSEP Ltd took over CNIMs subcontracts for aspects of the…
Netherlands Lightyears operating company, Atlas Technologies B.V., has filed for suspension of payment proceedings, which was granted by the Rechtbank Oost-Brabant in the Netherlands. On January 23rd, the court declared Atlas Technologies B.V. bankrupt and appointed Mr. R. van Oeijen from Holla legal & tax as trustee. Lightyear has expressed regret over the situation and…