Two directors of a company that traded in fine wines have been disqualified for a combined 20 years, following an Insolvency Service investigation, after scamming its customers out of nearly £1 million. Explosion of a glass with red wine The investigation by the Insolvency Service found that Crimson Fine Wines Limited, based initially in London…
DetailsA plan to help people in serious debt, by potentially giving them a six-week grace period from things like higher interest charges, has been announced by the Treasury. The Government said it was launching a consultation until January on how its “breathing space” scheme could work and in what circumstances amid concerns about growing problem…
DetailsPeople who are suffering from problem debt could be granted a six-week grace period to get their finances back on track, under new plans being considered by the Treasury. Under the plans, those plagued with excessive household debt would be exempt from further interest, charges and enforcement action for a period of six weeks, which…
DetailsPublished on Friday, January 6, 2017 A report coming out later this month will show that nearly four in 10 travel companies are now in ‘significant’ financial distress. Data analysed by insolvency firm Begbies Traynor found 2,679 businesses in the travel sector – thought to be made up of around 7,000 companies – were experiencing…
DetailsAustralians are cutting back on basic things like fresh fruit and vegies in order to keep the lights on with the National Debt Helpline taking 14,000 calls in September a record for the month, and up 14 per cent on the same time last year. The helpline said borrowers were mainly calling from metropolitan…
DetailsNoble Group Ltd.s sale of its oil business to Vitol Group probably buys the embattled commodity trader time. But even if it survives long enough to complete the deal, theres still an almighty struggle ahead: the near-inevitable restructuring of over $3 billion in debt. Analysts at BNP Paribas SA, Nomura Holdings Inc., JPMorgan Chase &…
DetailsBumps in the road I know of two male executives who have been looking for roles. These are highly qualified and experienced men with excellent track records in large listed companies one at CEO level. Both have hit what you might call bumps in the road recently. One experienced a downturn which led to the…
DetailsTata Steel and the Ruias themselves have put in bids for debt-laden Essar Steel after the company was put up for sale under the Insolvency and Bankruptcy Code (IBC). Sajjan Jindal-led JSW Steel, aggressive in bidding for Monnet Ispats and Bhushan Steels businesses, is said to have skipped submitting a resolution plan for Essar…
DetailsSaving for retirement isn’t a top priority for many young professionals, but Great-West Lifeco Inc. thinks it can change that by addressing heavy student debt loads. The life and health insurer is rolling out a new program to its client companies that will allow eligible employees to pay off their student debt while also getting…
DetailsAnthony Joshua insists he will not make the same mistakes as boxing’s bankrupt superstars as he prepares for the fourth defence of his IBF heavyweight title against late replacement Carlos Takam on Saturday night. Joshua’s earning potential has rocketed along with his profile since he emphatically announced his arrival on the world…
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