Birmingham city council, the largest local authority in the country, has in effect declared itself bankrupt after issuing a section 114 notice, signalling that it does not have the resources to balance its budget. The notice, preventing all but essential spending to protect core services, was issued on Tuesday with council leaders blaming a £760m…
Metals magnate Sanjeev Gupta’s efforts to sell his troubled Liberty Ostrava steelworks hit a setback as the Czech government said potential buyers had lost interest in taking over the company. Gupta’s Liberty Steel has been looking to divestBloomberg Terminal its Czech operations after a court declared the dormant unit with about 5,000 employees insolvent and…
Left: Richard Lawrence of Mackay Goodwin. Source: Supplied. Recent data released by the Australian Securities and Investments Commission (ASIC) reveals a record high of 1,245 insolvency appointments in May 2024, marking a 44% increase from a year ago and a remarkable 122% surge compared to 2022. This upsurge in business failures has been linked to adverse…
The decision, among Vital’s findings in the review that it began in April, was also made to allow the best chance of advancing the Tardiff deposit, part of its Nechalacho rare earths project in the Northwest Territories, Vital said. The company said in a July release that the review had largely been completed. Vital’s other…
New Jersey brewery Flying Fish has filed for bankruptcy after a planned sale to Cape May Brewing Co collapsed. Instagram / @flyingfishbrew Flying Fish Brewing Co, based in Pennsylvania, New Jersey, has filed for bankruptcy protection after a sale of its assets to Cape May Brewing Co failed to go through. The bankruptcy petition, filed…
Download CSVShow datatable Number of bankruptcies of businesses and institutions (including sole proprietorships) adjusted for court sessions days 2020 January 311 2020 February 333 2020 March 280 2020 April 382 2020 May 406 2020 June 257 2020 July 227 2020 August 195 2020 September 212 2020 October 190 2020 November 210 2020 December 174 2021…
Like most things in life, the real story is more complicated. What follows is Keyes’ insider account. Education is freedom Keyes was perhaps an unlikely CEO. In his new book, Education is Freedom – which he was encouraged to write by his friend Steadman Graham, an author and Oprah Winfrey’s partner – he details his…
Campbell Park Estate in Otekaieke will be sold to pay off debts of former Mainzeal boss Richard Yan, after he was adjudged bankrupt in May this year. The estate is one of three parcels of land owned by Richina Ltd, Insolvency and Trustee Service national manager Russell Fiddes said. “Richard Yan is the sole shareholder…
Today at 07:50 Phil Vickery, the former England rugby captain, has declared bankruptcy, revealing debts amounting to £100,000 to a company now in liquidation. The former tighthead-prop is a former professional rugby player who made a significant impact on the sport during his illustrious career. Renowned for his formidable presence on the field and exceptional…
The number of companies entering external administration has hit a ten-year record high last month, illustrating the mounting pressures on businesses. John Park, senior managing director at FTI Consulting, outlines why and how businesses of all sorts and sizes should be taking sensible precautions. For the nine-month period from 1 July 2023 to 31 March 2024,…