In 2023, the government launched 2 support payment schemes to help Victorians. These schemes were to help people who paid amounts towards a new home to a building company that went into liquidation. These included the Porter Davis Homes Customer Support Payment Scheme and Liquidated Builders Customer Support Payment Scheme. The Liquidated Builders Customer Support…
Tongaat Hulett is officially shutting down, with the Business Rescue Practitioners (BRPs) having exhausted all possible avenues to save the company. The BRPs applied to the KwaZulu-Natal Division of the High Court for an order to commence the company’s business rescue proceedings and to place Tongaat into provisional liquidation. The BRPs said that they had…
Dover Saddlery, which claims to be the largest equestrian retailer in the U.S., is expected to close all of its approximately 30 stores unless an “economically viable” deal emerges, according to a report in the Boston Globe. The report said the chain was taken over by its primary lender, an arm of Prudential Financial, and…
Akron welding automation company Weldbot files for Chapter 7 bankruptcy The Business Journals Read the original article here
Blog by Mac Banda, Adviser and Team Leader (Systems), Debt Management Unit, Commonwealth Secretariat Earlier this year, when I worked on a project in Eswatini to digitise applications for credit guarantees and private sector borrowing, I was reminded of the important role small businesses play in the country’s economy. From market traders and transport providers to farmers and aspiring entrepreneurs, many people rely on loans…
The future of College Football Playoff expansion remains a bit of a third-rail topic during this week’s SEC Spring Meetings in Destin, Fla., and at least one SEC head coach believes the ongoing debate will only serve to create a greater divide within the sport. “I don’t know why you ask us. It doesn’t matter…
A new report shows the number of Canadians unable to pay back their debts has reached a level not seen since the aftermath of the 2008 financial crisis. Data from Equifax shows insolvency was up nearly 19 per cent in the first quarter of 2026, compared to the same time last year. Nathaniel Dove has…
Ecojet Airlines, Ascend Airways, and Zenith Aviation Limited have all fallen into administration or liquidation in 2026. These failures come amid a turbulent backdrop of high fuel costs, conflict in the Middle East, and operational challenges. The EU’s new entry/exit system has also caused additional disruption by increasing processing times for travellers at airports. The…
Structural Weakness in the Insolvency and Bankruptcy Code (IBC) The Ministry of Corporate Affairs seeks Cabinet approval for 50 additional National Company Law Tribunal (NCLT) courts and two more National Company Law Appellate Tribunal (NCLAT) Benches. This move highlights a longstanding structural weakness affecting the effective functioning of the Insolvency and Bankruptcy Code (IBC). Capacity…
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