May 03, 2023 13:22 The number of people who file for bankruptcy or personal insolvency after failing to repay their debts surpassed 70,000 during the first quarter of this year, up more than 40 percent compared to the same period of 2022. But this is only the beginning as more and more small business owners…
High borrowing costs and inflation are weighing heavily on businesses, official figures suggest. Company insolvencies rose 16% in March compared to the previous year as business owners struggled to contend with soaring costs and tougher economic conditions. Experts predict that more will follow, as the economy continues to stagnate. Last month there were 2,457 insolvent…
Manchester United star Marcus Rashford has come to the aid of Wes Brown by offering the bankrupt former Red Devil ‘mates’ rates’ on a rented house. Brown was declared bankrupt by the High Court a fortnight ago after falling into a six-figure debt with HMRC. The 43-year-old spent 15 years in United’s first-team after graduating…
High borrowing costs and inflation are weighing heavily on businesses, official figures suggest. Company insolvencies rose 16% in March compared to the previous year as business owners struggled to contend with soaring costs and tougher economic conditions. Experts predict that more will follow, as the economy continues to stagnate. Last month there were 2,457 insolvent…
ByHT News Desk | Written by Aryan Prakash May 02, 2023 05:28 PM IST Share Via Copy Link Go First said it has been forced to ground 25 aircraft, which is approximately 50 per cent of its Airbus A320neo aircraft fleet as of 1 May 2023. Air Carrier Go First Airways on Tuesday filed for…
Company insolvencies increased by nearly 20% in the first three months of 2023 compared with the same period last year. R3, the insolvency and restructuring trade body for Dorset has said that the figure of 5,747 corporate insolvencies in January, February and March were the highest for any first quarter of a year in England…
Wadia group-owned Go First on Tuesday filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), said CEO Kaushik Khona. The airline has informed the government about the developments and will also be submitting a detailed report to aviation regulator Directorate General of Civil Aviation (DGCA). “Go First has had…
Private equity firms buy businesses in the hopes of flipping them for a profit a few years later. The idea is simple enough. But companies bought by private equity firms are 10 times as likely to go bankrupt as those that arent. The industrys defenders claim that this is simply because private equity firms often…
Former Manchester United defender Wes Brown is now reportedly renting a property from a current Old Trafford star after being officially declared bankrupt last month. Brown spent a total of 19 years at the ‘Theatre of Dreams’, making 262 appearances and winning 19 trophies during his time at the club. At the peak of his…
Vanessa Stuart is a director in our Restructuring & Insolvency Practice Group based in our Manchester office. Vanessas practice covers all aspects of restructuring, business recovery, corporate and personal insolvency law, acting for banks, asset-based and other secured lenders, as well as insolvency practitioners and those being pursued by insolvency practitioners. Her particular area of…