The Insolvency Service Published 24 May 2023 Crown copyright 2023 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected]. Where we have identified any…
DetailsThe Insolvency Service Published 24 May 2023 Crown copyright 2023 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected]. Where we have identified any…
DetailsMay 25 (Reuters) – Cineworld (CINE.L) expects to emerge from Chapter 11 bankruptcy protection in July, the British cinema chain operator said on Thursday, adding that its proposed debt restructuring has the backing of most of its lenders. The world’s second largest movie theatre chain operator after AMC Entertainment (AMC.N) filed for U.S. bankruptcy protection…
DetailsMay 25, 2023 6.58pm Rivet Mining Services founder Mark Rowsthorn, who poured more than $30 million into the logistics group, is likely to have had his investments wiped out after the companys lender put the parent company into administration. RMS emerged out of the ashes of former transport group McAleese, which was also run by…
DetailsAmong all the sectors, the real estate sector has the lowest percentage of resolution of insolvency cases, with paltry 4% of the real estate cases getting resolved. The complex nature of the real estate business, which involves developers, bankers and customers among others, make successful resolution of cases extremely difficult. Needless to say, the process…
DetailsMoney Management can confirm that Advice Intelligence is in financial difficulty and has entered voluntary administration. Advice Intelligence has entered voluntary administration following the decision from their investor, Regal Funds Management (Phil King), opting to withdraw future funding. This decision is founded upon a landscape of high-interest rates, economic uncertainty, and the overall tightness of…
DetailsPacWest Bancorp (NASDAQ: PACW) has reportedly sold its Civic Financial Services unit, which specializes in lending money to landlords and investors, to Roc360, a real estate lending firm. PacWest has unrealized losses on its holdings of bonds and loans. When banks have to sell underwater assets to meet deposit withdrawals, they must record the losses, a prospect…
DetailsAsias increased borrowing in recent decades has augmented the regions exposure to rising interest rates and heightened market volatility. Borrowing by the regions governments, companies, consumers, and financial firms is well above levels prior to the global financial crisis, as we recently noted. In particular, industries that rapidly increased leverage while interest rates were low…
DetailsRepublicans on Wednesday railed against Joe Bidens relief plan, criticizing it as too expensive and unfair to people who didnt take out student loans. | Alex Brandon/AP Photo The House on Wednesday passed Republican-led legislation to overturn President Joe Bidens student debt relief program and nullify the freeze on federal student loan payments and interest.…
DetailsThe Australian insolvency system is dominated by debtors with relatively small debts, many of whom are vulnerable, the Australian Financial Security Authority says. According to AFSA data, there are 60,000 people in the personal insolvency system currently, with a total of A$18 billion of liabilities. Of those, 52.7 per cent have less than $50,000 of debts. AFSA…
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