The rate of personal insolvencies in Herefordshire has increased by more than a third over the last two years, official data has revealed. In 2015, 16.8 adults per 10,000 were declared insolvent in Herefordshire, according to Insolvency Service figures. However by 2017 that figure had risen to 22.6, an increase of 34.5%. Insolvency is when…
Scores of debt-ridden young people in Birmingham are declaring themselves insolvent before they reach their mid-twenties. New data shows a total of 1,512 people in the city either went bankrupt, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017. Of those, 88 were aged…
One of the issues that has not yet caught the attention of the government or the IBBI is the treatment of MSMEs under the resolution plan. The Insolvency and Bankruptcy Code (IBC) is in its second year of operation; it has, at best, been a roller-coaster ride where the application of the said law has…
photo: Gibson Brands, Inc. Gibson Brands, Inc. declared bankruptcy in May, but the company is soldiering on with a brand-new electric guitar line-up. Dont expect to find fancy add-ons or tech-related doodads in this simplified range. And thats on purpose. Just recently, Gibson asked a federal bankruptcy judge to absolve the company of a $60…
The closure of Carillion and worldwide giant, Toys R Us, only highlighted the financial issues plaguing many businesses. The latest insolvency statistics have also suggested the effects regarding company insolvency can run much deeper than originally thought. Business Rescue Expert, a leading insolvency practitioner firm based in the North East, are sharing the knock-on impacts…
But six years after bursting onto the scene, Fairfax Media can reveal that parts of the Spartan empire are in financial strife. While the Spartan group is mulling a listing on the Australian Securities Exchange, the companys wholesale arm is beset with debts. Spartan group company SSG Wholesale (Australia) – known as Spartan Sporting Goods…
Greg Wilford Simon Halabi was once the UKs 14th richest manCHRISTIAN ALMINANA/GETTY IMAGES A former property tycoon who was once one of Britains richest men is a convicted rapist who has hidden his past for two decades, a court was told. Simon Halabi, 60, was the UKs 14th richest man in 2007 with an estimated…
A blunder by authorities allowed a billionaire rapist to travel the world with impunity after he used a different name on his passport, a court heard. Simon Halabi, a property tycoon who was worth an estimated £3 billion in 2007 but declared bankrupt just three years later, was convicted of a violent rape in France…
Pune: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to rule on Lavasa investors cases only after the case in front of the National Company Law Tribunal (NCLT) is resolved.On August 30, the NCLT had admitted a plea filed by creditors, who had initiated the corporate insolvency resolution process against Lavasa Corporation Limited under…
Katie Price stands to lose her home if she doesnt pay back credits by the end of October, insiders suggest (Picture: WENN) Katies Pricey lifestyle could make her homeless in as little as two months time, new reports suggest. According to The Sun, Katie is not taking a legitimate threat of bankruptcy seriously enough and…