Category Archives: Bankruptcy

Credit Card Debt and COVID-19 Pandemic Pushing BC Bankruptcies and Proposals Revealing New Debt Study Goes Beyond the Numbers – Yahoo Finance

Credit card debt five times more problematic than other types of debt reported; COVID-19 pandemic called out as factor in over half of personal insolvency filings since March 2020 VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) — Sands & Associates, BCs largest firm of Licensed Insolvency Trustees serving individuals and small businesses, released the…

Unexplained expenses lands electrician with 7-year ban – Mirage News

GJES London Ltd, an electrical contracting company, was incorporated in October 2011 and Grzegorz Marcin Jarnot (47), from Worcester Park, Surrey, became the sole director on the same day. The company traded for over 7 years until GJES London went into Creditors voluntary liquidation in April 2019 as it was unable to pay its debts.…

Are We on the Cusp of a Global Solvency Crisis? – International Banker

We have only just overcome the liquidity phase of the crisis in countries that are now relaxing restrictions. In many others, the health crisis is still acute. And the epidemic could flare up again anywhere, the general manager, Agustin Carstens, of Bank for International Settlements (BIS) acknowledged in late June whilst discussing the Banks 2020…

Brynne Edelsten, 37, says she has ‘no regrets’ about marrying Geoffrey, 77 – Daily Mail

Brynne Edelsten, 37, says she has ‘no regrets’ about marrying Geoffrey, 77 – as she reveals why she kept her ex-husbands surname after their divorce By Candice Jackson For Daily Mail Australia Published: 09:10 AEDT, 11 January 2021 | Updated: 09:44 AEDT, 11 January 2021 14 View comments Brynne Edelsten became a household name in…

New SME Administration & Insolvency rules come into force – Wide Format Online

The Government has made changes to our insolvency framework to better serve Australian small businesses, their creditors and their employees. The changes introduce new processes suitable for small businesses from 1 January 2021, reducing complexity, time and costs for small businesses. The aim of the new legislation is to protect jobs, SMEs and social coherence,…

Businesses put to test as debt holidays expire – Sunshine Coast Daily

A “steep increase” in insolvencies is expected as debt holidays come to an end and other government stimulus measures are wound back. Relaxed insolvency laws which allowed businesses to trade without making a profit for six months expired on January 1, and the time frame has been reduced to 21 days. Noosa-based insolvency expert and…

Insolvent council seeks to raise £4m from ANPRs on green road scheme – Telegraph.co.uk

An insolvent council has been accused of filling its empty coffers by closing roads to fine motorists millions of pounds, despite residents insisting they do not want to be part of Grant Shappss green transport revolution. Campaigners claim Croydon Council is being undemocratic by forcing through a Low Traffic Neighbourhood (LTN) scheme, where streets are…

5 Bankrupt Restaurant Chains Making a Comeback in 2021 – Eat This, Not That

The pandemic has taken a major toll on the restaurant industry, leading many popular restaurant chains to file for Chapter 11 bankruptcy protection over the course of the year. And while for a few this spells the end of the road, some are exiting bankruptcy with restructured finances and gunning for a fresh start. Although…

Going bust ain’t what it used to be – The Australian Financial Review

The positive outlook on the likely slower pace of companies going bust came from a survey of six leading insolvency and restructuring practitioners by Chanticleers colleague, John Kehoe. The thinking among experts from Ashurst, Duff & Phelps, Clayton Utz, Baker McKenzie and Norton Rose Fulbright is that banks will continue to show leniency towards businesses…

North East Sitting Top Of UK Personal Insolvency Rate Table For Twelfth Successive Year – Bdaily

Member Article North East England has retained its unwanted place at the top of the table for personal insolvency in England and Wales for the twelfth successive year. According to the latest annual figures released by the Insolvency Service, there were 34.6 individual insolvencies per 10,000 people in the region in 2019, compared to a…