News Business Friday 28th April 2023 13:15 BST The number of people taking “breathing space” from their debt problems has soared by more than a third year-on-year, official data shows. There were 23,179 registrations for the relief in the first three months of 2023, up 34% from the same period in 2022, according to Insolvency…
DetailsLONDON, April 28 (Reuters) – The number of companies declared insolvent in England and Wales in the first three months of 2023 was up 18% on a year earlier and remained close to the 13-year high recorded in the final quarter of 2022, government data showed on Friday. Some 5,747 companies in England and Wales…
DetailsBelgian cryptocurrency trading platform Bit4You has announced the suspension of operations after it discovered that CoinLoan, one of its service providers, was declared insolvent by an Estonian court. The CoinLoan Insolvency The cryptocurrency trading platform learned about CoinLoans insolvency issues on the 24th of April. According to a blog post published by the crypto lender,…
DetailsApril 28, 2023 Normal text sizeLarger text sizeVery large text size The government adds an amount equivalent to the rate of inflation on every HELP debt annually (Ive paid $3000 of my student loan but Im deeper in debt, April 28). Imagine the outcry if banks started doing the same thing to mortgages. The only…
DetailsRitzy food delivery service Providoor has become the latest in a long list of formerly bustling businesses to go bust. The companys founder, celebrity chef Shane Delia, made the sad announcement to its website on Friday, telling customers the service would be formally placed into liquidation. It is with a heavy heart that I announce…
DetailsIn this weeks TGIF, we consider the recent case of Re 52 The Esplanade Pty Ltd (in liquidation) [2023] QSC 57 which provides guidance as to how the relation-back day for a company is to be determined in circumstances where there are multiple winding up applications. Key takeaways The relation-back day is an important date for…
DetailsKey Points The federal government is seeking to ban the use of credit cards for online gambling. The legislation is set to be introduced to parliament later this year. The government has also introduced new advertising regulations for gambling. Gamblers who use their credit cards to fund online betting will soon be out of luck…
DetailsADVERTORIAL Senator Deborah ONeill. The individual most likely to determine how Australias insolvency regime operates in the years to come will be the headline guest at the 2023 annual conference of the Association of Independent Insolvency Practitioners (AIIP). Senator Deborah ONeill, chair of the Parliamentary Joint Committee on Corporations and Financial Services inquiry into corporate…
DetailsAustralias largest brick manufacturer has become the latest casualty in the nations construction industry crisis, with the company forced to close down a major plant in the countrys west. Concrete block and brick producer Brickworks revealed on Thursday its Western Australian subsidiary Austral has been running at a loss in recent years off the back…
DetailsCascades, a Kingsey Falls, Quebec-based paper and packaging producer, is restructuring its Tissue Papers platform, closing two underperforming plants as well as shutting down a virgin paper tissue machine in a move that will impact 300 employees in the U.S. Beginning in July, the company will progressively close what it says are underperforming plants in…
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