The number of people going bust fell to a 10 year low in 2015. Just under 80,000 people in England and Wales were declared insolvent last year. The 19% drop from 2014 was driven by fewer individual voluntary arrangements, down 23% to just under 40,000, according to the Insolvency Service. Meanwhile bankruptcies tumbled to 15,797…
Personal insolvencies fell to their lowest levels in a decade in 2015 across England and Wales, official figures show. A total of 79,965 personal insolvencies were recorded last year, marking the lowest annual total since 2005, when 67,584 cases were recorded, according to Insolvency Service data. Personal insolvencies in 2015 were also down by nearly…
As KVV Liepajas Metalurgs metallurgical company had missed a payment of EUR 2.7 million that was due to the Latvian state in late 2015, the Treasury has started drawing on the collateral, LNT commercial television reported on Thursday (January 28th) evening, informs LETA. The steel plant tried to negotiate an extension of the payment deadline…
Debt problems: Personal insolvencies at 10-year low 29 January 2016 From the section Business Image copyright Getty Images The number of people being declared insolvent was at is lowest level for a decade in 2015, but debt problems started to pick-up late in the year. A total of 79,965 people were left with unmanageable debts…
Gambian workers are worried! Their salary for the month of January, has been cut to half by the repressive regime of dictator Yahya Jammeh. The recent pay cut affects the entire government workforce. The government says there is no adequate funds to cater for workers salaries. It has resorted to making piecemeal salary payments. Many…
Slater & Gordon shares have given back a third of the week’s strong gains. Photo: Jessica Shapiro Shares in law firm Slater & Gordon slid by as much as 17 per cent after the company appeared to have missed its self-imposed deadline to update investors about its closely watched cash flows. In a statement to the Australian Stock Exchange…
The directors of a hairdresser-turned-insolvency practice have been banned from managing a company for 10 years, for failing to ensure their business acted in a competent manner. According to the Insolvency Service, Baker Donald was set up as a hairdresser in November 2011, but just over a year later started trading as an insolvency practice,…
An insolvent Topeka bank seized by the federal government during the 2007-2008 financial crisis could receive a court hearing after the 10th Circuit Court of Appeals ruled on its case Tuesday. According to an agreement signed between Columbian Bank and Trust and the Federal Deposit Insurance Corporation, federal officials in 2008 had reason to believe…
The number of people whose financial situation was so bad that they became insolvent in 2015 is expected to be at its lowest levels in a decade in official figures released on Friday. Creditor services firm RSM predicts that across England and Wales, the Insolvency Service’s figures will show there were around 80,000 personal insolvencies…
RSM expects the volume of Debt Relief Orders (DROs) for the fourth quarter of 2015 to have risen by 16%, while bankruptcies are down. Data complied by RSM suggests that the Insolvency Service will announce tomorrow (29 January) that there were around 20,000 personal insolvencies in England and Wales in the final quarter of 2015.…