Against a backdrop of economic uncertainty and a looming global recession, many senior executives are facing the prospect of leading businesses experiencing financial distress or insolvency. For many senior executives, being involved in a business that has failed will have long-lasting ramifications. Aside from the reputational harm that may be caused to an individuals career,…
TELLY cook Rustie Lee has been declared bankrupt after lawyers spent nearly a decade chasing her over a 75,000 debt. Investigators found she withdrew money from a company she ran with her husband shortly before it went bust in 2013. TV cook Rustie Lee has been declared bankrupt after lawyers spent nearly a decade chasing…
Former Wales captain Craig Bellamy has issued a warning to footballers not to make the same mistake he did after being declared bankrupt. The 78-time Wales international played 54 times for Liverpool over two spells, winning the League Cup and Community Shield during his time at Anfield. During his career, he enjoyed noted spells at…
Insolvency trustee Doug Hoyes encounters a lot of Canadians with money troubles, but he’s become particularly sympathetic to the plight of young people who find themselves financially underwater. For more than a decade, his Ontario-based firm Hoyes Michalos has been crunching bankruptcy and insolvency numbers for its annual “Joe Debtor” analysis, with its latest results…
The High Court has approved Personal Insolvency Arrangements that will allow a retired couple aged in their mid 70s to rent back their Dublin home after it is sold to a housing agency. Under the terms of the PIA Thomas and Catherine Carroll will remain in their home under a social tenancy agreement at Oaklands…
Australian law firm Taylor David is predicting a wave of insolvencies across Australian business in 2023. The company has warned that the number of companies facing financial headwinds is likely to be significantly larger than during the Global Financial Crisis (GFC) in 2008. Partner Scott Taylor is foreshadowing that the financial uncertainty facing Australian businesses,…
Subscribe Be the first with the news that moves the market Law firm Taylor David is cautioning that Australians will soon experience widespread personal and business insolvencies in greater numbers than encountered during the 2008 Global Financial Crisis (GFC). The finance law specialist claimed the number of companies facing financial headwinds was widespread across all…
Member Article R3 responds to February 2023 insolvency statistics Corporate insolvencies increased by 6% in February 2023 to a total of 1,783 compared to Januarys total of 1,682, and increased by 17.5% compared to February 2022s figure of 1,518. o Corporate insolvencies also increased by 160.3% from February 2021s total of 685 and by 32.6%…
A judge has declared bankrupt a gaming firm that laid off its 140 remaining employees just days before last Christmas. Mr Justice Ian Spiteri Bailey upheld a request by Genesis Global Limited to wind down its operations in Malta due to bankruptcy. He heard how the applicant company presented an extraordinary resolution by its board,…
The Texas Department of Insurance has placed Friday Health Plans under receivership after the health insurance company declared insolvency. The Lone Star States insurance commissioner has seized the Friday Health Plans’ assets and is charged with liquidating its local property, technology, bank accounts and other valuables to pay outstanding claims, according to a liquidation order…