German operations of Kautex Maschinenbau GmbH, an extrusion blow mold machinery maker, is insolvent due to what the company calls “a multitude of exogenous factors.” While the Bonn, Germany, production site is looking for new investors, the company’s location in Shunde, China, is not impacted by the company’s move, the company said. Kautex, in revealing…
DetailsFloridians experiencing spiked insurance premiums and limited options to deal with them have received some government assistance that may alleviate some of their financial woes and give some respite to Governor Ron DeSantis. Due to legislative reforms aiming to combat increasing homeowner costs and market instability, the Indiana-based Orion180 recently had its two carriers approved…
DetailsOwner Terry Pegula has been named President of the Buffalo Sabres. He will continue to work closely with COO John Roth leading the business side of the organization and general manager Kevyn Adams leading the hockey side of the organization. In conjunction with these changes, Pegula Sports & Entertainment (PSE) will be separating resources between…
DetailsAs the next chart shows, insolvencies are much higher in July 2023 than earlier this year in most of the country. They are especially bad in New South Wales. Nationwide, 2022 was the bad year for insolvency. But in 2023, NSW is bleeding out. When you break down the NSW data you find two things.…
DetailsRoughly one in three Americans have delinquent debt according to 2022 credit data from The Urban Institute. At 16%, medical debt makes up the highest percentage of debt delinquency, but consumers also default on student loans, auto loans and credit card debt. If someone’s debt is so large that making payments becomes unmanageable (or if paying off…
DetailsDeborah Law Deborah Law, partner in the dispute resolution team at Stronachs, has been awarded the certificate of proficiency in insolvency (CPI). She was one of eight candidates from England, Scotland and Wales to earn a merit and she was ranked first of the Scottish candidates. The Insolvency Practitioners Association CPI is a highly regarded…
DetailsManaging a companys debts can be a challenge at the best of times. Accessing expert advice can be a great asset, and Voluntary Administration services are a good way to navigate issues and get a company back on track. Administrators are independent advisers that are uniquely qualified to support a business in recovering from financial…
DetailsArticle 0 Comments The District Court of Shawnee County, Kansas has declared MutualAid eXchange (MAX) insolvent, and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance. The court ruled MAX to be insolvent on August 22, two weeks after the companys board of directors consented to an…
DetailsUnited Arab Emirates 28 August 2023 – Leading global professional services firm Alvarez & Marsal (A&M) today unveiled the Q2 2023 edition of its Middle East Turnaround and Restructuring Survey. The report indicates that Gulf CEOs and business leaders who participated in the survey are feeling lower levels of concern about the economic environment, while…
DetailsLaura Pickering of Moore Recovery in Stoke on Trent discusses Director Loan Accounts in insolvency scenarios. Directors Loan Accounts In the ordinary course of business it is not unusual for there to be financial transactions between a Company and its directors. Directors may loan money to their company to assist with cash flow, directors may…
Details