(representative image) A total of 6,571 Corporate Insolvency Resolution Processes (CIRPs) had commenced by the end of March 2023, data from the Insolvency and Bankruptcy Board (IBC) of India showed. Of these, 4,515 or 69 percent were closed, the Insolvency & Bankruptcy Board Of India (IBBI) said. According to the data, 678 corporate debtors have…
DetailsNEW DELHI: Banks and other entities have involved personal bankruptcy provisions in over 1,800 cases against personal guarantors a majority of whom would be ousted promoters of companies which faced action under Insolvency and Bankruptcy Code but realisation of claims has been extremely poor, so far.Claims filed against the personal guarantors topped Rs 1. 5…
DetailsA secretary has secured High Court approval for a personal insolvency arrangement (PIA) which involves some 3.6 million of her total 4.16 million debts being written off for a payment of 3,000. Under the terms of the PIA, Mars Capital Finance Ireland DAC, a secured creditor of Winifred Swaine (59), will be paid its total…
DetailsThe news of Jenny Craig Australia and New Zealand entering voluntary administration comes a week after the weight loss business filed for bankruptcy and closed Jenny Craigs physical locations in the US. The US business searched for a buyer for two weeks, running out of money after there were no takers. Six days ago, that…
DetailsJohn Kirk-Anderson/Stuff Jenny Craig has gone into voluntary administration. Weight-loss brand Jenny Craig NZ has gone into voluntary administration, alongside its Australian counterpart. It comes a week after the US entity announced it would be closing, after it had run out of money as it searched for a buyer and had to file for bankruptcy.…
DetailsJenny Craig Australia and New Zealand has entered voluntary administration, less than a week after saying it would continue its local operations in the wake of the United States business filing for bankruptcy. Key points: Jenny Craig employees were informed the company had been placed into voluntary administration at a meeting earlier on Tuesday Last…
DetailsIn Q1 2023 (Jan 1 Mar 31), there were 355 formal insolvency proceedings lodged in New Zealand compared to the corresponding period in 2022 when there were 277. Thats an overall increase of 28%. BWA Insolvency has been tracking the data on liquidations, receiverships and voluntary administrations since 2012. The Registrar of Companies Office records…
DetailsMonday 15 May 2023 7:00 am The capitals premier index jumped 0.44 per cent to 7,504.58 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, bumped 0.16 per cent higher to 18,559.53 points (Photo by Dan Kitwood/Getty Images) The Insolvency Service last year launched 36…
DetailsFormer Salford Red Devils owner Marwan Koukash has been officially declared bankrupt. Koukash became a prominent figure in rugby league from 2013 onwards when he took ownership of the Red Devils but having left the club it seems financial troubles have found him. He was keen to splash the cash at Salford though and in…
DetailsThe figures come as Citizens Advice warns people are at risk of “spiralling into debt” amid the cost-of-living crisis. A person becomes insolvent when they are unable to pay their debts and are left with a choice of declaring bankruptcy or taking on measures to pay them back. New figures from the Insolvency Service show…
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