A failed businesswoman “buried her head in the sand” after going bankrupt and failed to reply to repeated requests for evidence of her assets by the insolvency service. A judge told mother-of-three Karen Achilleos she “closed her eyes” to letter after letter from the authorities after her bespoke cabinet-making business went bust. Derby Crown Court…
Receive free Barclays PLC updates Well send you a myFT Daily Digest email rounding up the latest Barclays PLC news every morning. Barclays is joining forces with an insolvency specialist to try to recover millions of pounds of misappropriated loans advanced under the UK governments Covid-19 bounceback scheme. The bank is among the lenders that…
Bittangabee Bay in the Beowa National Park is a stunning place for day visitors and campers. Photo: OEH. Visitors heading to a popular Far South Coast national park to see its stunning walks and views this summer will be able to enjoy improvements to its infrastructure, including a new Aboriginal cultural camp. Beowa National Park,…
Whats the best way to handle aggressive debt collectors? | TheRecord.com
Muhammad Arif, 57, from Uxbridge, has been made subject to 10 years of bankruptcy restrictions for claiming a 50,000 Bounce Back Loan to which he was not entitled. Arif had run a wholesale clothing business in west London, trading as Ayesha Boutique, from April 2012 until his bankruptcy in December 2021. In June 2020, he…
posted by Jason Kilborn The list of countries with new personal insolvency laws continues to grow. Bloomberg noted today that the President of Kazakhstan had signed a new law setting out several procedures for relieving the debts of non-entrepreneur individuals (sole proprietors remain relegated to the existing law on rehabilitation and bankruptcy). The text of…
Need to know Bankruptcy can have long-term impacts, and consumer advocates say it’s a decision that should only be made with independent advice A number of for-profit companies offer bankruptcy advice for a fee, but the bankruptcy regulator warns about ‘untrustworthy advisers’ Free and independent advice and help is available from the National Debt Helpline…
The direct economic impact of business failure will be significantly higher in 2023 compared to 2022 levels, PwC is predicting in its Q1 2023 Insolvency Barometer. PwC research estimates that there was 1.8bn of debt owing from businesses that failed in 2022 with the average debt per SME (excluding the larger companies) being c.2m. On…
The founder of Bonjour, a local cosmetics wholesale retailer, was declared bankrupt on Monday, with a subsidiary company of the corporation wound up. Wilson Ip Chun-heng, the 66-year-old founder of Bonjour Holding Limited, was announced bankrupt by the High Court today after he failed to present in court. The court heard that Ip owed more…
Bed Bath & Beyond (NASDAQ:BBBY) stock is soaring 29% in early trading and trending on social media, even though the retail chain is widely expected to be headed for bankruptcy. Some retail investors may be trying to turn BBBY stock into the next name that rallies for a while after going belly up. On Thursday,…