StepChange Debt Charity is pleased to see the Insolvency Service update today, following its call for evidence on the personal insolvency framework, and its commitments to reform this sector. Responding to the Government response, Vikki Brownridge, CEO at StepChange Debt Charity, said: We welcome the Insolvency Services response today on reforming the UKs personal insolvency…
The Australian Securities and Investments Commission (ASIC) took action against Probis Financial Services Pty Ltd today (Monday), suspending its Australian financial services (AFS) license. This move came after Probis opted for voluntary administration in mid-July. Get up to 12 months for Free on 50+ Alibaba Cloud Products and Solutions! Enjoy 50% more budget-friendly with cutting-edge…
Interest rate rises and a steep fall in household savings mean Australia confronts a recession and food production is in the front line of industries in strife, says a company turnaround specialist. Vantage Performance CEO Michael Fingland said the problems facing fruit and vegetable farming-manufacturing meant the sector was of greater concern than other sectors.…
Company insolvencies in England and Wales have hit the highest level since 2009 as businesses carrying pandemic debts faced a perfect storm of rising interest rates, higher costs and a slowing economy. Registered company insolvencies increased by 13 per cent year-on-year to 6,342 in the three months to June 30, according to the Insolvency Service.…
Former Wajir Governor Mohamed Mohamoud has been declared bankrupt due to his failure to settle a Ksh7.6 million debt owed to a construction company. Despite a court order issued in January 2020, both Mohamed Mohamoud and his wife, Kheira Maalim, failed to pay the outstanding debt, leading the construction company to file a bankruptcy petition…
Former Wajir Governor Mohamed Abdi Mohamoud has been declared bankrupt by the High Court after he failed to pay a debt of Sh7,621,724.91 to a construction company that supplied him with building materials. Justice David Manjanja of the High Court in Nairobi declared Mr Abdi and his wife Kheira Maalim Mohamud bankrupt on July 21…
There’s a storm brewing in the property insurance market, and companies and consumers alike are starting to feel it. BlackRock CEO Larry Fink told FOX Business last month that not enough attention is being paid to the fact that major insurance companies are fleeing California and Florida because they cannot raise rates high enough to…
More than 20,000 New Yorkers who lost their retirement savings will get help from the American Rescue Plan, according to the union’s president. Frank DeRiso, president of United Food Commercial Workers Union Local 1, told Spectrum News 1 that special financial assistance from American Rescue Plan money is going to make the shortfalls right. Members…
Former Wajir County Governor Mohamed Abdi Mohamud. [File, Standard] High Court in Nairobi has found former Wajir Governor Mohamed Mohamud and his wife Kheira Maalim bankrupt for failing to pay Sh 4.1 million debt owed to a tiles company. High Court judge David Majanja found that Mohamud and Kheira were unable to pay their dues…
The lender added that if the bankruptcy plan is approved, it will focus its efforts on recovering money from other firms, some of which have also declared bankruptcy and are in the process of restructuring. This includes Alameda Research, FTX, Three Arrows Capital, Emergent, Marex, and Core Scientific. Read the full article at: https://www.coindesk.com/business/2023/08/03/blockfis-disclosure-statement-gets-court-approval/