An Abuja company has asked the Federal High Court and the Central Bank of Nigeria (CBN) to wind up Heritage Bank and revoke its operational licence, citing what it called the banks financial insolvency. Geonel Integrated Services Limited, a security services company, said in a petition filed at the Federal High Court that Heritage Bank has been showing signs of distress and insolvency in recent…
The number of people with mortgage debt they are unable to repay who chose bankruptcy doubled to 100 last year. Banks lost two-thirds of the mortgage debt in these cases, as they are forced to write off most of the money they are owed. New figures compiled by Waterford-based personal insolvency practitioner Mitchell O’Brien show…
Andrew McTear, partner at McTear, Williams & Wood. Picture: DENISE BRADLEY Archant A firm of East Anglian insolvency specialists is helping companies diagnose problems earlier after launching one of the UKs most comprehensive business health checks. … Read the full article at: http://www.edp24.co.uk/business/insolvency_specialists_offer_companies_a_free_check_up_1_4908410
The superannuation industry wants the government to cover any outstanding entitlements when a company goes broke but bureaucrats warn it is a bad idea that will cost $800 million over the next four years. Super funds have called for an expanded taxpayer-funded safety net as part of a Senate inquiry into non-payment of the 9.5 per…
A publicity drive aimed at making more people aware of free legal and financial advice available to those in mortgage distress has commenced. It comes after research revealed that two-thirds of those who could benefit most from such a scheme did not know it existed. The Abhaile scheme was launched last July as a one-stop…
EX-STAFF of a prominent Mooloolaba restaurant will only receive about 13 cents for every dollar of superannuation they’re owed by former boss Todd Young. Mr Young hit Las Vegas with his partner just days after winding up Todd Young Investments Pty Ltd on December 29, 2015. His company operated Bella Venezia restaurant at Mooloolaba through…
A High Court judge has approved a personal insolvency arrangement for Donegal county councillor John ODonnell, who has debts of more than 4.2 million. A meeting of Mr ODonnells creditors had last month had rejected the proposed arrangement. Mr ODonnell, an Independent Councillor, previously featured in an RTÉ Investigates programme on standards in public office.…
Galway Bay fm newsroom 76 people were declared bankrupt across Galway over the past two years. New statistics from the Insolvency Service of Ireland show that from 2014 to 2016, there were a total of 171 debt solutions issues across the city and county. 95 of these were approved by creditors or the courts, and…
Banks only recover 34% of the mortgage debt they are owed if the borrowers go bankrupt, new analysis has shown. Customers go into bankruptcy if banks reject insolvency proposals put forward by personal insolvency practitioners. The analysis has been compiled by a firm called Insolvency Resolution Service, which today published a study based on the…
Every year, HMRC publishes an annual report on the estimated UK tax gap the shortfall between the tax estimated due from that which is eventually collected. For the tax year ending April 2015, the latest figures available and published towards the end of 2016, some £36bn of estimated tax revenue remained uncollected. Standing at six…