Payday loans were a growing factor in personal insolvencies in Ontario for the sixth consecutive year in 2017, despite recent provincial regulatory changes to curb borrowing rates and improve disclosures by lenders. A review of 3,500 insolvency cases by insolvency trustee firm Hoyes Michalos found 31 per cent of people who made insolvency filings in…
Family law issues Wife not permitted to advance equalization of property claim after having declared bankruptcy Parties entered into minutes of settlement that provided husband would assume ownership of matrimonial home as well as related debts and expenses, and pay wife $40,000 in exchange for release of her property division and spousal support claims. Following…
HAMBURG, Feb 12 (Reuters) – German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday. Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass. The company and its shareholders had been unable to reach agreement on financing with banks, he said. The…
HAMBURG, Feb 12 (Reuters) – German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday. Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass. The company and its shareholders had been unable to reach agreement on financing with banks, he said. The…
The deadline for submitting bids for the beleaguered Essar Steel, put up for sale under Insolvency and Bankruptcy Code (IBC), ends today and it’s reportedly looking like a tug of war between the Ruias and L.N. Mittal, though Tata Steel is also expected to enter the fray. Yes, the government has amended the Insolvency and…
Employees transferred in prison and defence contracts but more than 1,000 ex-staff have lost jobs Carillion ran maintenance services at prisons including Wandsworth. Photograph: Graeme Robertson for the Guardian More than 4,400 staff who worked for collapsed government contractor Carillion will keep their jobs, the Insolvency Service has said, after new companies were found to…
The assets of Latvias insolvent steel company KVV Liepajas Metalurgs will be sold off by auction, the companys insolvency administrator Guntars Koris has decided, reported LETA on January 15. The insolvency administrators spokesman Dzintars Hmielevskis told LETA that the decision has been taken because none of the companys potential investors had met the requirements set by…
The company has reportedly racked up debts of £71.5 million Claims that the star begged landlords to cut rents in aim to keep company afloat Plan backed by 95% of creditors will see 450 staff lose their jobs By Victoria Bell For Mailonline Published: 02:00 AEDT, 12 February 2018 | Updated: 05:43 AEDT, 12 February…
Scottish personal insolvency numbers rise by 2.1% 24 January 2018 Image copyright Getty Images The number of personal insolvencies rose in Scotland in the last quarter of 2017, according to official figures. Accountant in Bankruptcy (AiB) reported 2,691 bankruptcies and protected trust deeds (PTDs) between October and December – a year-on-year rise of 2.1%. The…
Gul-Nawaz Khan Akbar took ownership of gold via an ’employee benefit trust Prior to buying gold Mumtaz Food Industries Ltd owed £447,997 to six creditors Akbar banned from being company director for six years by Insolvency Service By Tariq Tahir For Mailonline Published: 02:55 AEDT, 11 February 2018 | Updated: 02:55 AEDT, 11 February 2018…