The number of corporate insolvencies is about to erupt, but what is truly going on behind the increase? Lynne Darcey Quigley from commercial debt recovery advisory firm Darcey Quigley & Co discusses the sharp rise and outlines how corporations can mitigate the risk. In 2022, global corporate insolvency numbers are expected to increase by 33%,…
Hudson’s Bay is liquidating all of its stores. Hudson’s Bay Company’s efforts to stay in business appear increasingly unlikely to pan out. Canada’s oldest company will liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location, with sales beginning April 25. Hudson’s Bay said it is making the move because it believes that…
IBC Weekly Round Up [21st April-28th April 2025] Live Law Read the original article here
By Willy Lusige Published on: April 16, 2025 08:18 (EAT) File image of the Technical University of Kenya. The financial rot at the Technical University of Kenya (TUK) is now under the spotlight, as both past and current administrators faced tough questions over how the institution sank into billions in debt. The Parliamentary Committee on…
CB Governor underscores rating agencies’ critical role in post-debt restructuring recovery The Island.lk Read the original article here
Poonawalla Fincorp Limited (PFL), a non-banking finance company (NBFC) promoted by the Cyrus Poonawalla Group, on Monday, said that it has implemented an artificial intelligence (AI)-powered debt management platform to streamline its collection processes. The company, focused on Consumer & MSME Lending, said that the new technology features an autonomous engine that analyses customer interaction…
Mumbai, April 28, 2025: – Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC, focused on Consumer & MSME Lending, has announced the implementation of advanced AIpowered debt management platform to transform its debt management processes, redefining the collections journey in the lending sector. This aims to enhance efficiency across processes, strategic designs, and…
The family company of former Socceroo Steve Horvat has been pushed into liquidation in a development that will send shockwaves through A-League club Western United on the eve of the competition’s finals series. Nathan Deppeler and Scott Andersen from Worrells were appointed liquidators of Horvat’s family company Sava Engineering on Monday, after a meeting of…
Asia Pacific-based independent spirits distributor Proof & Company has put its Australian business into voluntary administration after facing a “local economic downturn”. Proof & Company is behind EcoSpirits, which sold a minority stake to Pernod Ricard Proof & Company operates in four markets: Singapore, Australia, Hong Kong and New Zealand. Last Friday (25 April), the…
Company insolvency statistics show accommodation and food services insolvencies were down 11% from 3,829 in the 12 months to February 2024 to 3,405 in the 12 months to February 2025. Insolvencies in the sector fell 20% to 271 in February 2025, compared to the same month last year (339). However, they remain historically higher than…