Category Archives: Bankruptcy

Black & Veatch – Contractors appointed to deliver GBP480m Lostock Sustainable Energy Plant – Marketscreener.com

Lostock Sustainable Energy Plant Ltd (LSEP Ltd) has appointed global engineering, procurement, consulting and construction Company Black & Veatch as the engineering, procurement and construction management (EPCM) contractor to support LSEP in delivering its Energy from Waste facility at the Lostock Works site near Northwich. Clean energy technology specialist, Babcock & Wilcox, has also been…

Insolvency Service: Q4 2022 company insolvencies 30% higher … – IFA Magazine

Following theQ4 2022 company insolvency datapublished this morning, which showed company insolvencies were 30% higher than in Q4 2021, brokers and financial experts have commented: Mark Grant of Gloucester-based business finance broker,The Business Finance Branch:Its brutal out there right now.In the fourth quarter of2022 and into 2023, we have seenan increase in businesses fearing that…

Will the upcoming Budget make reforms to the Insolvency and Bankruptcy Code, 2016? – Economic Times

This being the last full budget to be presented by this Government before the general elections in 2024, there are number of political, economic, and social factors at work that may have an impact on the Union Budget 2023-24. This budget also comes at a time when the global economy is witnessing a slowdown and…

Number of people and businesses going financially insolvent jumped in 2022 – Yahoo Finance UK

The number of people going financially insolvent across England and Wales hit a three-year high in 2022, according to official figures. In addition, the number of company insolvencies jumped to the highest level since 2009 last year, in further signs of the impact of tough economic conditions on people and businesses. Some 118,850 people went…

England and Wales see most company insolvencies since 2009 – Reuters UK

LONDON, Jan 31 (Reuters) – More companies suffered insolvency last year in England and Wales than any time since 2009, government figures showed on Tuesday, reflecting the end of coronavirus pandemic support that helped many smaller businesses stay afloat. Total insolvencies rose to 22,109 in 2022, their highest since the global financial crisis and up…

Embattled retailer officially goes under – news.com.au

Embattled Australian furniture retailer Brosa has just been placed into liquidation. On Tuesday afternoon, creditors of the home decor retailer voted to wind up the company. The collapsed firm reportedly owes $24 million, including $10 million to customers from unfulfilled orders. It only has $4.3 million in assets. It comes just over a month after…

Dutch solar car company remains hopeful of revival after bankruptcy – The Driven

Just days after Lightyear announced it was halting production on its flagship Lightyear 0 model to refocus on its more affordable Lightyear 2, the Dutch solar car companys main subsidiary, Atlas Technologies, has been declared bankrupt. The subsidiary is the main production company and the employer of Lightyears staff, so the bankruptcy affects 600 workers…

State lawmakers undecided on $45M for insurance incentive fund – KALB

BATON ROUGE, La. (LSU Manship School News Service) – Legislators kicked off a special session Monday to address one agenda item: whether to approve $45 million for an incentive fund to persuade home insurers to come back to the state. Two bills were introduced in the House Monday: one to appropriate funds for the Insure…

Special session on insurance begins – WWLTV.com

Two bills were introduced: one to appropriate funds for the Insure Louisiana Incentive Program and a second to place some restrictions on the use of those funds. BATON ROUGE, La. Legislators kicked off a special session Monday to address one agenda item: whether to approve $45 million for an incentive fund to persuade home insurers…

DOF Puts Forward New Debt Plan Warning of Insolvency and … – The Maritime Executive

DOF says it is probable that the company will be judged insolvent as they put forward final proposal to shareholders (DOF file photo)Published Jan 30, 2023 1:18 PM by The Maritime Executive The new board of directors of Norwegian offshore operator DOF is back with a new proposal to refinance the company and lower its…