The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data. In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023. The figures included 320 compulsory liquidations – when a company is forced to…
The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data. In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023. The figures included 320 compulsory liquidations – when a company is forced to…
The number of Australian businesses falling into insolvency for the first time has jumped to 967 in February 2024, according to newly released data from the Australian Securities and Investments Commission (ASIC). This is the highest point it has ever hit since 2015 according to ASIC, and is a 74% lift on the prior month.…
Despite a gradual increase in the claims under the Insolvency and Bankruptcy Code (IBC), operational creditors (OCs) continue to receive a minimal share of the proceeds of resolution as well as liquidation. As per the latest IBBI newsletter, OCs received merely 0.88% of the total amount claimed during the liquidation of a stressed asset. The…
Is AI going to reduce or increase technical debt? How, why, and what are the implications? Fast Company Read the original article here
Nearly 50,000 New Jerseyans will see some or all of their medical debt paid off under a plan funded by federal tax dollars, Gov. Phil Murphy announced Tuesday. The plan affects 17,905 patients who owe $61.5 million to the for-profit chain Prime Healthcare, which operates five hospitals in North Jersey. Another $38.4 million that has…
Finland has experienced an unprecedented number of business bankruptcies in the 48th week of 2023, with 85 companies being declared insolvent. This figure is the highest weekly total since Finland’s Asiakastieto Oy began its weekly bankruptcy tracking in 2019. According to Jaakko Nors, a product owner at Asiakastieto who specializes in bankruptcy data, by…
50 homes in limbo, more than $8m debts as two builders collapse Gold Coast Bulletin Read the original article here
Deeds Brewing has announced that it is entering liquidation, having been unable to find a buyer or investor since entering into voluntary administration last month. The brewery published a statement on Facebook about the decision to enter liquidation, thanking its fans and supporters over the years. “Our hearts are broken. Since launching Deeds Brewing in…
LATEST: Liquidators appointed for Tasmania-based businesses The Mercury Read the original article here