In the third quarter of 2023, the number of bankruptcy declarations of EU businesses decreased by 5.8% compared with the previous quarter. Overall, the number of bankruptcy declarations in 2023 has been higher since the pre-pandemic period (i.e. the fourth quarter of 2019). In the same period, registrations of new businesses slightly increased for the…
The insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) – has proposed mandatory disclosures about the status of a corporate debtor, being registered or not, as an MSME (micro, small or medium enterprise) in accordance with the provisions of the Micro, Small and Medium Enterprises Development Act, 2006. The regulator has also proposed…
With last week’s Reserve Bank of Australia board minutes indicating official interest rates will stay high well into next year, household debt management will remain a huge priority for Australians. Loan repayments are crippling family budgets at a time when cost-of-living pressures are squeezing spending, and credit-card balances are rising to plug the gap. Debt…
The Senate Committee on Health, Education, Labor and Pensions held a hearing July 11 on medical debt. The AHA submitted a statement for the hearing that highlighted how the quality of insurance coverage is a driver of medical debt, saying that coverage for many patients is either insufficient or unavailable. The AHA discussed hospital and…
A record number of care home businesses failed last year as the financial pressure on social care in Britain took its toll. New government figures show that 75 care home businesses were declared insolvent in 2016, up from 74 the previous year. The failures mean that in total 421 care home businesses have collapsed since…
The far-right activist Tommy Robinson is being pursued for an estimated £2m by creditors after he claimed bankruptcy during a high court libel trial. The English Defence League founder, whose real name is Stephen Christopher Yaxley-Lennon, declared himself bankrupt in a high court trial last year in which he was ordered to pay £100,000 in…
Recognising the differences between micro, small and medium enterprises and larger corporates, the Insolvency and Bankruptcy Board of India (IBBI) has proposed that any firm undergoing insolvency proceedings should disclose its status. It is proposed to amend Regulation 36 of the CIRP Regulations for making disclosures about the status of the corporate debtor, being registered…
John Barnes has been banned as a company director after his company did not pay tens of thousands of pounds in both VAT and corporation tax Insolvency Service investigations began after his John Barnes Media Limited company went into liquidation in 2023 Former England and Liverpool footballer John Barnes has been banned as a director…