During the pandemic, many jurisdictions amended their insolvency laws to lessen the impact of the pandemic. In some cases, these amendments operated on a temporary basis until the impact of the pandemic abated. In other cases, more permanent reforms were introduced to improve insolvency legislation generally. In Australia, as noted in the recent report of…
NEW YORK (AP) Janille Williams wants to buy a house someday but first, he has to pay down tens of thousands of dollars in medical debt. I was hospitalized for a blood infection for three months more than ten years ago, and the bill was for more than $300,000, said Williams, 38, a Fairbanks, Alaska,…
In an announcement that has surprised many in Sydneys independent theatre sector, the Directors of Darlinghurst Theatre Company have resolved to place Darlinghurst Theatre Limited (Company) into Voluntary Administration. Jonathon Keenan and Peter Krejci of BRI Ferrier have been appointed Joint & Several Administrators of the Company. Given the Companys financial position, all trading has been suspended…
On the ropes due to a lack of consumer spending in its international markets, UK-based party goods manufacturer and retailer Wonder Group (formerly Amscan International) is on the verge of entering into administration. According to reporting from Sky News from yesterday, Wonder is preparing to appoint an insolvency advisor to see it through the UKs…
To support sustainable textile manufacturing and improve the sectors resource efficiency in Bangladesh and India, International Finance Corporation (IFC) has on Monday announced a partnership with EPIC Group, a leading player in the global apparel industry, to help finance its green capital expenditure program and create higher-skilled jobs. IFC said in a statement that the…
Fisker was once seen as a potential challenger to Tesla, however, the company by Danish car designer Henrik Fisker never reached a comparative size and fell far short of (its own) expectations in terms of unit sales. And it had been struggling for a long time: the companys great hope, the Ocean electric SUV, was…
Published at 18 Jun 2024 Statistics from The Insolvency Service, while in part positive, reveal that businesses in all four nation… Statistics from The Insolvency Service, while in part positive, reveal that businesses in all four nations of the UK continue to face challenging times. The latest UK company insolvency statistics for May 2024, released…
In May 2024, the number of registered company insolvencies in England and Wales was 2,006, 6.4% lower than in April 2024. The worst hit sector was construction, accounting for 18% of company collapses, with 4,401 insolvencies in the 12 months to April 2024, reaching a total of 4,401. There is also a stark reminder that…
Michelle Elliot Company insolvencies in Scotland rose by 22% year-on-year in May 2024, reaching 118. The latest data from the Insolvency Service showed this was comprised of 71 CVLs, 43 compulsory liquidations and 4 administrations. There were no CVAs and no receivership appointments. The total insolvency rate in Scotland in the 12 months to May…
Recently, news emerged that former Tour de France winner, Sir Bradley Wiggins had filed for bankruptcy and was at risk of being forced to sell his Olympic gold medals. Now, some more details have emerged on the situation. “It is a mess. He has lost everything, absolutely everything. His house, his other home in Mallorca,…