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The National Company Law Tribunal (NCLT) serves as the adjudicating authority for corporate insolvency resolution processes, liquidation and corporate debt restructuring under the IBC The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted to streamline corporate insolvency resolution, liquidation, and debt restructuring, while ensuring a time-bound process that adequately balances the interests of creditors and…
Total insolvencies rise in England and Wales, and Northern Ireland, while Scotland sees a modest dip. Total insolvencies rise in England and Wales, and Northern Ireland, while Scotland sees a modest dip. The latest statistics from the Insolvency Service reveal a rise in company insolvencies across the United Kingdom, with January 2025 witnessing a notable…
UK pay growth picks up Good morning, and welcome to our rolling coverage of economics, the financial markets and the world economy. UK pay growth has accelerated at the end of last year, bringing relief to workers and a headache for the Bank of England The latest employment data, just released, shows that total pay…
Company insolvencies in Scotland saw a 15% decrease in January 2025 compared to the same period last year. A total of 75 insolvencies were registered, comprising 37 Creditors’ Voluntary Liquidations (CVLs), 32 compulsory liquidations, and six administrations. No Company Voluntary Arrangements (CVAs) or receivership appointments were recorded. The insolvency rate for the 12 months to…
Scottish company insolvencies down 15% year-on-year Insider.co.uk Read the original article here
A first liquidator’s report into a Kiwi travel company’s breakdown reportedly shows it was issuing customers with fake plane tickets. Auckland-based travel company Travel Globe has left creditors more than NZ$230,000 ($221,637) out of pocket, according to a liquidator’s report, including customers who were issued with fake plane tickets. The company is owned and directed…
The failure rate of new businesses relative to total insolvencies is at its lowest level for more than a decade, according to new analysis from PwC. In 2024 startups accounted for 46% of total company insolvencies, the lowest proportion in a decade by a large margin – despite record levels of company incorporations over the…
Swindon & Wiltshire Economy Tuesday February 18 2025 Author Name: Peter Davison Insolvency-related activity has decreased in Wiltshire and the Thames Valley, says R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe showed a drop in insolvency-related activities from 203 in December to 172 in January. The figures include…
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