The number of people becoming financially insolvent reached a three-year high across England and Wales during 2017, official figures show. Some 99,196 personal insolvencies were recorded, marking a 9.4% rise on 2016 and the highest annual total since 2014, when there were 99,223 cases. It marked the second year in a row that the numbers have…
DetailsElectrovayas German subsidiary, Litarion GmbH, has commenced a voluntary structured insolvency process. The process is expected to result in the appointment of a provisional receiver/liquidator of Litarion and its property by the German court, a press release reads. As previously reported by the company, Li-Tec Battery GmbH, the owner of the premises occupied by Litarion,…
DetailsImage copyright Getty Images The number of people who became insolvent jumped by 9.4% in 2017 – the second year running that figures rose. In total, 99,196 individuals were declared insolvent in England and Wales, up from 90,657 in 2016. The Insolvency Service said the figures had returned to levels last seen in 2013 and…
DetailsBy Press Association Published: 21:03 AEDT, 26 January 2018 | Updated: 21:03 AEDT, 26 January 2018 e-mail The number of people becoming financially insolvent reached a three-year high across England and Wales during 2017, official figures show. Some 99,196 personal insolvencies were recorded, marking a 9.4% rise on 2016 and the highest annual total since 2014,…
DetailsThe Banking Association SA has voiced frank criticism of a bill proposing debt-relief measures, that is to be debated in Parliament next week, saying it could accelerate irresponsible borrowing and increase the cost of credit for all consumers. The association was not in favour of a “legislated change” in debt obligations for low-income consumers, as…
DetailsA bloody public brawl between two brothers witnessed by residents in Yuen Long this week was the culmination of months of resentment sparked by claims the younger siblings girlfriend was born in the wrong year, the pairs mother said today. The brothers surnamed Wong and identified by local media yesterday as 32-year-old Ah Keung and 20-year-old Ah Kit fought at the Long Ping…
DetailsThe future of Rolling Stone Australia is in doubt after Paper Riot, the company holding the local rights to the iconic title, was placed liquidation on Wednesday. Paper Riot was founded by Rolling Stone Australia editor Matthew Coyte who set up the company in 2013 to take over the title from Bauer Media. Matt Coyte,…
DetailsA SUNSHINE Coast businessman fined almost $230,000 for the “appalling” exploitation of foreign workers may be shut down by the Federal Government. Emmanuel Bani and his company, Maroochy Sunshine Pty Ltd, were fined in March last year after the Federal Circuit Court found workers from Vanuatu had been lured to Australia and then deprived of…
DetailsKadhim Shubber in London January 26, 2018 The administrators who sold a once-highflying British technology start-up to the companys directors for £2m have been removed by a court following accusations they botched the sale. The High Court case, which ended this week, has shone a light on controversial pre-pack administrations that allow companies to go…
DetailsCases such as Jaypee Infratech Ltds which involved 50,000 homebuyers, set off a discussion on whether IBC needs to be amended to give special treatment to certain classes of creditors such as homebuyers. Photo: Hindustan Times The Insolvency and Bankruptcy Code has now been in force for more than a year and given its ambitious…
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