Latest figures from the Insolvency Service have shown that there were 2,191 business insolvencies in England & Wales in July 2024, 7.3% lower than in June 2024 (2,363) but 15.9% higher than the same month in the previous year (1,890 in July 2023). The insolvencies consisted of 320 compulsory liquidations, the highest monthly number since…
Set-Off Under IBC Regime BW Legal World Read the original article here
AIB has introduced a voluntary block feature for debt and credit card transactions that are linked to gambling. Customers can request to have a block placed on their personal and business cards for transactions that are identified as related to gambling. “We understand that when gambling becomes harmful it can affect not just the person…
Aussie battery maker Redflow goes into administration Renewables Now Read the original article here
The related party term loans – recorded at $6.7 million in liquidation reports – are due for repayment in December 2024 and December 2025. The funds are required to satisfy Tui’s liabilities, consisting mainly of $4.59m claimed by the Inland Revenue. In April the BDO liquidators of Tui Terraces were confident the loans would be…
Calypso Destinations fell over with $2.3 million in unsecured creditors including Tyler himself, who is listed as claiming $924,000 in “loans to the company” that he made. The liquidator’s report said Tyler may have a defence against insolvent trading claims because of advances made to the company that were under continuing investigation. Tyler declined to…
European tour operator FTI Touristik has filed for insolvency at a court in Munich, Germany. The company, one of the largest tour operators in Europe, said the FTI Touristik brand is directly affected but that insolvency filings will follow for other group companies. Windrose Finest Travel will continue operations. The news comes weeks after FTI…
Addiction to gambling and other harmful products such as vaping is affecting children’s ability to learn and concentrate at school during a critical time in their brain development, the CEO of the Association of Heads of Independent Schools of Australia, Dr Chris Duncan, has warned. “I’m teaching many kids with chronic mental health issues related…
In March this year, after 14 years in business, Glen Iris taproom and brewery Deeds entered voluntary administration. In May, founders Patrick Alé and Dave Milstein closed the taproom and brewing operations. Now, they’ve found a way to keep the Deeds taproom and its brewing operations running until February 2025. Deeds and its creditors have…
Australians saddled with stifling HECS debts still fear a plan to wipe $3 billion off student loans isn’t enough to help them. The 2024 federal budget includes a plan to change how student loans are indexed, which will take off roughly $1,200 from the average Aussie’s HECS-HELP debt. Yahoo Finance has been inundated by people…