NEW GOVERNMENT statistics have revealed that Torbay is the second worst Parliamentary constituency in the country for bankruptcy rates. The statistics show that 9.8 people per 10,000 were declared bankrupt in 2014 – 78 new bankruptcy cases – with only Wythenshawe and Sale East having a higher rate of new bankruptcy cases. Torbay also had…
Published 15/12/2015 Coastal areas featured strongly among the areas with the highest personal insolvency rates Vale of Clwyd, Stoke-on-Trent North and Torbay were the parliamentary constituencies with the highest personal insolvency rates across England and Wales last year, according to official figures. Coastal areas featured strongly among the areas with the highest personal insolvency rates,…
By Press Association Published: 02:02 EST, 16 December 2015 | Updated: 02:02 EST, 16 December 2015 Vale of Clwyd, Stoke-on-Trent North and Torbay were the parliamentary constituencies with the highest personal insolvency rates across England and Wales last year, according to official figures. Coastal areas featured strongly among the areas with the highest personal insolvency…
Torquay and Plymouth are in the top 25 list of UK places where people struggle the most with insolvencies Comments (0) A South Devon town is topping the list of places in the UK for the number of insolvencies. Torquay continues to top the list as the town with the highest rate of personal insolvencies, with…
Woolies and Qantas in loyalty rejig Woolworths loyalty card members will be able to swap grocery discounts for Qantas Frequent Flyer points after the retailer, under pressure from customers, reached a new partnership agreement with the airline. The Fin Legal threat to Apex directors Apex Minerals liquidator Bryan Hughes plans to launch legal action against…
Gold Coast financier Peter Drake. Photo: Louie Douvis Alleged union fraudsters such as Kathy Jackson and the heads of some of Australia’s largest collapsed financiers could be key beneficiaries of reforms to bankruptcy laws proposed by the Turnbull government. The federal government on Monday launched reforms to make it easier to bounce back from a business failure, including changing the…
In 2011, Bill Clinton put mortgage arrears resolution front and centre of our economic recovery. He claimed there would be no widespread economic recovery until this issue had been dealt with properly. He was right then and remains so. Economic recovery will not be real, sustainable or widespread until the scourge of mortgage arrears is…
Most experts support the broad direction of the draft Insolvency and Bankruptcy Code, which was recently released by the finance ministry. However, there is a fair degree of apprehension about the implementation. A common question is how this Code will coexist with the existing insolvency laws such as the Securitisation and Reconstruction of Financial Assets…
Those looking for the detail on insolvency changes announced in the Federal Governments long awaited innovation statement wont find it on the government website. But the Productivity Commissions report, Business set-up, Transfer and Closure, also released yesterday, acts as a companion piece to explain the Federal Governments intention to introduce significant changes to Australias insolvency…
by Karen O’Flynn The government’s new approach to insolvency is long on rhetoric about “risk-taking” and the need to remove the “stigma” of business failure. It is short on detailed consideration of exactly why we have legal rules for corporate and personal insolvency. Those rules aim to balance the interests of creditors against the need…