March insolvency data “paints a bleak and ominous picture of the … – IFA Magazine

Following the March company and individual insolvency statistics published by The Insolvency Service this morning, financial industry experts have commented. Ian Hepworth, director of Croydon-based Funding Solutions UK: Increasing insolvencies are sadly a sign of the times, as macroeconomic headwinds continue to bite. The withdrawal of government support from businesses, higher interest rates, stubbornly high inflation, wage demands and…

Company Directors Face Tough Action for COVID-19 Financial Abuse – Mirage News

Over 450 directors have been disqualified by the Insolvency Service in 2022-23 for abusing the COVID-19 financial support scheme, as the agency continues to clamp down on pandemic fraudsters. Figures published today by the Insolvency Service also show that directors guilty of COVID-19 related misconduct are being hit with longer disqualification periods. The average length…

Womble Bond Dickinson adds new partner to restructuring and … – Womble Bond Dickinson

International law firm Womble Bond Dickinson has strengthened its London restructuring and insolvency practice with the appointment of Amy Gallimore who joins as partner. Amy specialises in corporate and personal insolvency law, representing insolvency practitioners and stakeholders affected by financial distress including directors, shareholders and creditors. With strong expertise in the financial services sector in…

Insolvencies jump to new high in March, ahead of pandemic levels – Evening Standard

I nsolvencies last month rose to the highest level since the Government began collecting the statistics four years ago, exceeding pandemic-era highs. There were 2,457 companies declared insolvent last month, up 16% from March 2022, as well as 288 compulsory liquidations, double the figure from a year earlier. This, the Government said, was partly due…

Staff devastated as company goes into liquidation – Sunshine Coast News

A former employee of a manufacturing company that suddenly went into liquidation says hes among many left devastated by the move. Mooloolabas Transportable Shade Sheds (TSS) went into liquidation on Monday, April 3, reportedly leaving hundreds of customers either without product or half-delivered orders. Former senior sales technician Terry Coe was among staff still working…

Insurance company insolvencies hit Fl. policyholders in wallet – WGCU

TALLAHASSEE State insurance regulators last week signed off on a plan that will lead to policyholders throughout Florida paying extra on their bills because of property-insurer insolvencies. Insurance Commissioner Mike Yaworsky issued an order that approved a request by the Florida Insurance Guaranty Association to collect a 1 percent emergency assessment to cover costs of…