Insolvencies at decade high as retail, hospitality, building firms buckle – The New Daily
Insolvencies at decade high as retail, hospitality, building firms buckle The New Daily Read the original article here
Provisional liquidators appointed to two connected corporate rescue companies
Provisional liquidators have been appointed to Atherton Corporate (UK) Ltd and Atherton Corporate Rescue Limited The companies offered a service to facilitate the sale of distressed companies as an alternative to using insolvency practitioners Provisional liquidators have been appointed to two connected companies offering corporate rescue and restructuring services following investigations by the Insolvency Service. …
Sac City bank declared insolvent, first Iowa bank closing since 2011
The Iowa Superintendent of Banking has closed a Sac City bank — the first bank closing in Iowa since 2011. Citizens Bank in Sac City opened in 1929. According to a news release issued Friday night by the Iowa Banking Division, the bank was declared insolvent after bank examiners “identified significant loan losses that previously…
NJ Gov. Phil Murphy announces major $100M medical debt relief
Phil Murphy, governor of New Jersey, speaks during the 2023 State of the State Address at the New Jersey State House in Trenton, New Jersey, US, on Tuesday, Jan. 10, 2023. Murphy proposed expanding the number of liquor licenses in the state and providing shore towns with funding to help upgrade their boardwalks. Photographer: Aristide…
Operational creditors continue to get little of insolvency proceeds – MSN
Operational creditors continue to get little of insolvency proceeds MSN Read the original article here
Game-changing proposal for North Coast – NBN News
A proposal to alleviate student debt for lawyers relocating to the North Coast, has been labelled as ‘groundbreaking’. The initiative, hoping to address the backlog of legal services in the area and aims to improve access to justice in under-served communities. Read the original article here
Company insolvencies in England and Wales higher in past year than during financial crisis; gold hits record highs – as it happened | Business
More companies went bust in past year than during financial crisis More companies in England and Wales went bust in the last year than at the height of the financial crisis, the latest insolvency figures show. There were 25,551 insolvencies in the 12 months from August 2023 to July 2024, new data from the Insolvency…
Projects in Limbo as AllRoads Ordered to Liquidate
Defence, road and other state government infrastructure projects are now in limbo after a Queensland-based construction company was ordered into liquidation. Jon and Dan Fulton, who founded AllRoads in 2009, have had their company ordered into liquidation by the Queensland Supreme Court. The company went into administration as pipe supplier Enviropipes submitted a winding up…
New Jersey erases medical debt for 50,000 residents with Undue partnership
New Jersey is wiping out $100 million in medical debt for about 50,000 of its residents in a move that uses federal pandemic relief funds and partners with a non-profit that buys this sort of debt from hospitals or the secondary market for pennies on the dollar. Announcing the partnership with Undue Medical Debt, formerly…
The Collapse of Lehman Brothers: A Case Study
Lehman Brothers filed for bankruptcy on September 15, 2008. Hundreds of employees, mostly dressed in business suits, left the bank’s offices one by one with boxes in their hands. It was a somber reminder that nothing is forever—even in the richness of the financial and investment world. At the time of its collapse, Lehman was…