Port Macquarie recorded the highest number of personal bankruptcies in the state during the 2018 financial year, analysis shows. Some 82 people in Port Macquarie declared bankruptcy during that time. The figures also ranked Port Macquarie sixth in the top 10 Australian locations by volume for bankruptcy. Data registry and analytics business illion combined official bankruptcy data with…
German online gambling operator Mybet has announced its intention to file for insolvency after failing to come to terms with a would-be financial savior. On Tuesday, Mybet issued a statement indicating that its board of directors was preparing an application to open insolvency proceedings after talks with a strategic investor failed to produce an agreement.…
KUALA LUMPUR: Some 64,632 Malaysians aged between 18 to 44 years old have been declared bankrupt over the last five years, the Parliament was told. Minister in the Prime Minister’s Department Liew Vui Keong said in a written reply that the highest cases of bankruptcy among the youth were recorded in 2014 with a total…
MORE people across south and west Dorset are becoming unable to pay their debts, new figures show. Figures released by the according to Insolvency Service show that the rate of personal insolvencies in Weymouth and Portland has increased by almost a third over the last two years with West Dorset also showing similar trends. Weymouth…
The Courts of Justice, in partnership with the Registrar of Companies, has acquired an EU grant to develop an integrated National Insolvency Register that will in future be interconnected to the European e-Justice Portal. This electronic register aims to provide information to the public about entities and traders that are facing insolvency and provides information…
Mybet Holdings management board confirmed this (Tuesday) afternoon that it is preparing an application to open insolvency proceedings after talks with a strategic investor collapsed. The board said in a statement that the company owes 4m (£3.5m/$4.5m) in sports betting taxes and faces imminent illiquidity. An application covering all three of mybets German group companies…
Tuesday, August 14, 2018, 14:50 Insolvency register to be linked to European e-Justice portal The Courts of Justice, in partnership with the Registrar of Companies, has acquired an EU grant to develop an integrated National Insolvency Register that will in future be interconnected to the European e-Justice Portal. This electronic register aims to provide information…
Katie Price shamelessly promotes a brightening blue face mask amid her bankruptcy woes Katie Price, 40, was given three months to pay off her £250K debt The businesswoman was once estimated to be worth £45million Reality star Katie has built up a social media empire of 1,900,000 Instagram fans The mum-of-five showed her fans how…
The majority of companies going for liquidation under the Insolvency and Bankruptcy Code (IBC) have been non-operational for almost over a decade. With assets depreciating over time, experts say, the demand from buyers will be muted, leading to large haircuts for lenders and creditors. These companies have not been doing well for a considerably…
On 26 June 2017, the Recast EU Insolvency Regulation (recast EIR) entered into force, replacing the EU Regulation on Insolvency proceedings (EIR), which had been in place since May 2002. The new legislation set out new provisions for cross-border insolvencies. It broadened the scope of the original regulation to pre-insolvency proceedings and introduced a significant change in no…