Clock’s ticking: Laura Ashley is among retail businesses to have died recently. In good news for insolvency firms but not much else, insolvencies are rising and the number of retailers appointing external administrators is also up. Electronics chain Dick Smith, home furnishings company Laura Ashley Australia and clothing retailer Man To Man are among retailers to have gone under recently. John…
Fianna Fáil is calling for amendments to the personal insolvency legislation. The party has said the law is not fit for purpose and must be changed to put home owners first. The call comes as new figures show just 4 review applications were approved by Insolvency Service of Ireland – since it was granted limited…
May 26 Volgaburmash : * Says that Arbitration Court of Samara region has declared company insolvent and launched receivership for a six-month period Source text – bit.ly/1sABCYa Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSFWN18N08Z
BIS has launched a consultation on whether the UKs insolvency regime needs updating following a flurry of recent corporate failures and an increasing European focus on providing businesses with the tools to facilitate company rescue. The consultation explores four broad areas for reform. Core to this is introducing a moratorium for distressed businesses to benefit…
BIS says the move is in response to recent large corporate failures and developments in Europe to provide businesses with the tools to facilitate company rescue. Business secretary Sajid Javid said: An increasing international focus on company rescue has helped to shift the perceptions of what constitutes best practice; the UK needs to reflect this…
TK | 26 May 2016 Prague, May 25 (CTK) – Up to 150 billion crowns were siphoned off from the New World Resources (NWR) company, whose subsidiary is the Czech coal mining firm OKD that has been declared insolvent, during the time when it was owned by Czech billionaire Zdenek Bakala,…
THE IPA has issued its first personal insolvency licence following changes to the Deregulation Act 2015 and Insolvency (Amendment) Act Northern Ireland 2016. The Act opened up the insolvency licensing regime to greater competition and flexibility by catering for practitioners who choose to specialise in either personal or corporate insolvency work. Embracing the changes the…
2016-05-24T17:33+02:00 17:33 24.05.2016 The Individuals’ Deposit Guarantee Fund has introduced temporary administration to bank Mykhailivsky (Kyiv) declared insolvent for one month from May 23 to June 22, 2016 inclusively, the fund has said on its website. Temporary administrator is a representative of the fund, Turiy Irkliyenko. The NBU declared the bank insolvent on May 23.…
The Association of Personal Insolvency Practitioners (APIP) is meeting today to discuss whether it should continue to do specific types of debt arrangements after legal opinion emerged questioning if these comply with the law. The issue involves personal insolvency arrangements (PIAs) that also include split mortgages. A PIA is the restructuring of mortgage and other…
There were 45 people experiencing insolvency in Mandurah, the third highest after Wanneroo and Rockingham. The statistics from three cities were the main contributors to a 13.1 per cent increase in the number of debtors in WA in the March quarter. The number of debtors who entered a personal insolvency increased 1.5 per cent in…