Business insolvencies jumped 30% to a 13-year high in 2022 as government support programmes that offered companies protection from their creditors during the pandemic came to an end. Soaring costs and weakening consumer demand in the second half of last year also combined to force many firms into liquidation, said analysts who predicted the situation…
DetailsLostock Sustainable Energy Plant Ltd (LSEP Ltd) has appointed global engineering, procurement, consulting and construction Company Black & Veatch as the engineering, procurement and construction management (EPCM) contractor to support LSEP in delivering its Energy from Waste facility at the Lostock Works site near Northwich. Clean energy technology specialist, Babcock & Wilcox, has also been…
DetailsRefinancing action will reduce net debt by approximately 65% Global manufacturing and delivery of products to continue uninterrupted to meet robust customer demand Strong sequential improvement achieved in preliminary 4Q22 financial results Executed strategic actions accelerating a renewed focus on core businesses ELYRIA, Ohio, February 01, 2023–(BUSINESS WIRE)–Invacare Corporation (NYSE: IVC) (“Invacare” or “the company”),…
DetailsWelcome toForeign Policys Africa Brief. The highlights this week:Italy and Libya sign a gas deal,taking offense at Germanys Twitter emojis, and the United Arab Emirates solar power cooperation with Zambia. If you would like to receive Africa Brief in your inbox every Wednesday, please sign uphere. Africas Debt Problem U.S. Treasury Secretary Janet Yellen and…
DetailsThe board thinks the current proposal is a reasonable compromise that should receive a sufficient majority among the companys creditors and shareholders. But, if the proposal is not adopted, there will be no prospect the company will be able to achieve a reconstruction and the court will probably open bankruptcy after a report from the…
DetailsSearches for debt consolidation loans jumped by 29% in January compared to the same month last year, according to credit information company Experian. The increase in searches on Experians marketplace suggests some people are looking for ways to make their debt repayments more affordable and/or simplify their repayments by bringing their debts together. Just over…
DetailsFollowing theQ4 2022 company insolvency datapublished this morning, which showed company insolvencies were 30% higher than in Q4 2021, brokers and financial experts have commented: Mark Grant of Gloucester-based business finance broker,The Business Finance Branch:Its brutal out there right now.In the fourth quarter of2022 and into 2023, we have seenan increase in businesses fearing that…
DetailsPersonal information of Robodebt victimswas released to journalists in an effort to deter them from speaking out, a former media adviser to ex-human services minister Alan Tudge has told a royal commission. Key points: Rachelle Miller said in response to growing criticism, the government adopted a counter-narrative strategy in the “more friendly media” The commission…
DetailsBehavioural change effectuated among debtors is one of the far-reaching spillover effects of the insolvency law, which is also facilitating the exit of distressed firms and thereby allocating scare economic resources for more productive use, the Economic Survey said on Tuesday. As many as 5,893 Corporate Insolvency Resolution Processes (CIRPs) had commenced by end-September 2022,…
DetailsThis being the last full budget to be presented by this Government before the general elections in 2024, there are number of political, economic, and social factors at work that may have an impact on the Union Budget 2023-24. This budget also comes at a time when the global economy is witnessing a slowdown and…
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