The number of permanent solutions reached between heavily indebted borrowers and their lenders through the Insolvency Service of Ireland (ISI) increased by 70 per cent last year. The rise has been welcomed by the service but the figures have been dismissed as disingenuous spin by critics who insist the regieme is not fit for purpose.…
There was a 70% increase in the number of permanent solutions agreed through the Insolvency Service of Ireland last year. The ISI said the recent removal of the banks’ veto over proposed arrangements involving debtors’ homes has already resulted in financial institutions reversing some of their own rejection decisions. Lenders overturned four out of 12 rejection decisions which were appealed last month.…
The Government is developing new rules on insolvency, upon the demand of the Tax Authority ANAF. It will remove the current legal norms that prevent the prosecuting authorities from blocking the insolvency account or the assets of a company suspected of producing damages after entering insolvency, reports local Profit.ro. If an insolvent company…
Elections in Portugal last October returned a parliament narrowly divided between the incumbent center-right coalition Portugal Ahead, composed of the conservative People’s Party and the centrist Social Democratic Party, and a new center-left and left-wing majority divided between four parties: the Socialist Party with 32 percent of the vote, the Communist Party with 8 percent,…
CHENNAI: Serial entrepreneur C Sivasankaran, who made audacious bets in telecom, has been given a second chance by a court which annulled his bankruptcy on Monday. Sivasankaran had applied for bankruptcy protection in a Seychelles court to ward off a claim by his Bahrain-based telecom partner Batelco, which won a court decree for its $212-million…
Knightsbridge Insolvency Services has completed the acquisition of all insolvency cases from Personal Debt Help Line a debt management company based in Cheadle. Knightsbridge, based in Carrington and part of the Money Advice Group , will acquire all 2,100 insolvency cases as well as 18 members of staff, in a deal expected to be worth…
Once you receive one sign that your business may be headed to insolvency, it may seem that all your finances instantly start spiralling out of control; but giving up is out of the question. It is how you deal with this downfall that will determine the future of your career and business. When the odds…
News 18 January 2016by Rebecca Buchan Calum Melville An Aberdeen businessman who was once one of Scotlands richest men has been declared bankrupt but insists he is still living a life of luxury in the sun. Calum Melville flitted his life to Dubai two years ago, taking his business with him and leaving a trail…
As weve been warning for quite a while (too long for my taste): the worlds grand experiment with debt has come to an end. And its now unraveling. Just in the two weeks since the start of 2016, the US equity markets are down almost 10%. Their worst start to the year in history. Many…
IF THE HETEROSEXUAL Caucasian male novelist has made a unique contribution to the field of contemporary American literary fiction if he has, so to speak, a story of his own that is the story of the loser. Wallace, Franzen, Lipsyte, Shteyngart, Eggers, Moody, Lethem each of these writers has, to varying degrees, contributed to the…