Company insolvencies jump to new monthly high – Business MattersBusiness Matters

Company insolvencies in England and Wales last month rose by 40 per cent year-on-year to the highest level since monthly records began in January 2019. Data from the Insolvency Service yesterday showed that 2,552 companies were declared insolvent last month, overwhelmingly through creditors voluntary liquidations, in which a companys directors agree to wind up the…

England and Wales report 40% rise in company insolvencies – Yahoo Eurosport UK

By David Milliken LONDON (Reuters) -Company insolvencies in England and Wales last month jumped 40% year on year to the highest level since monthly records began in January 2019, government data showed on Friday. In May, 2,552 companies were declared insolvent, overwhelmingly through creditors’ voluntary liquidations, in which a company’s directors agree to wind up…

Oil exploration contracts not to be covered under IBC moratorium – The Economic Times

New Delhi: The government has exempted corporate debtors’ production and revenue-sharing contracts, exploration licences and mining leases under the Oilfields (Regulation and Development) Act from moratorium under the Insolvency and Bankruptcy Code (IBC).This effectively means that the government can cancel such contracts or permits with insolvent firms in the petroleum sector even when bankruptcy proceedings…

UK government urged to help mortgage holders as rates keep rising; company insolvencies jump 40% as it happened – The Guardian

From 10h ago Sir Ed Davey, leader of the Liberal Democrats, is calling for a 3bn emergency mortgage protection fund to protect people who would otherwise be repossessed. Speaking on Radio 4s Today programme, Davey says the government should provide the kind of help that was available after the last financial crisis. Davey explains: Weve…

Company insolvencies jump by 40 per cent – Peer2Peer Finance … – P2P Finance News

Business insolvencies shot up by 40 per cent year-on-year in May, as macroeconomic pressures mount up. 2,552 businesses collapsed in May, according to the Office for National Statistics (ONS) data, which was higher than levels seen while Covid support measures were in place, and also higher than pre-pandemic numbers. Read more: Acquisition top cause of…

FTSE 100 Live: Stocks rise but mortgage rates jump, insolvencies rise – Proactive Investors Australia

FTSE 100 follows US and Asia higher, up 28 points Tesco sees signs of easing inflationary pressures Mortgage rates continue to rise, heading towards 6% 12.40pm: Intel to invest 4.2bn in Polish plant Computer chip manufacturer Intel Corp announced plans on Friday to build a large factory in Poland to assemble and test microprocessors. Intel Chief…