The Neucel Specialty Cellulose pulp mill in Port Alice has been declared bankrupt with $272 million in debts. Founded in 1916, the mill was the economic bedrock of the northern Vancouver Island village, but has been closed since 2015. It had also shut down under a previous owner in 2004, reopening two years later. article…
Photo byAnastasiia ChepinskaonUnsplash Battle victory could be close, but the war is not over – experts are warning insolvencies could spike in the coming months and linger for years post-COVID-19. Last quarter (January to March 2020), personal insolvency rates fell 16.5% on the same quarter last year – the lowest level since the December quarter…
Australia could face a “tsunami” of bankruptcies when government support packages and existing capital run dry as a result of COVID-19, a lead financial institution has warned. Malcolm Howell, bankruptcy trustee and partner at insolvency firm Jirsch Sutherland, forecasts that the majority of these bankruptcies will come in 12 to 18 months time thanks to…
Bankruptcy: What happens when you go bankrupt? BBC Read the original article here
Katie Price has been declared bankrupt in a hearing at the High Court, which was told she had failed to stick to a plan to repay her debts. The former model and reality TV star was not present at the London hearing. Last year, Price, 41, came to an arrangement with her creditors for a…
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