The number of people declared insolvent hit a six-year high in the three months to June as the squeeze from high inflation, meagre wage rises and benefit cuts hit the finances of low-paid workers. Individual insolvencies totalled 28,951 in the second quarter, a jump of 4.4% on the previous quarter and 27.3% on the same…
In hindsight, Chapman says the advisor was the king of bullshit. According to the National Personal Insolvency Index, Navra had been bankrupt for nine months from September 2001 before the bankruptcy was annulled after his debts were settled. By May 2009, Great Southern had collapsed, leaving Chapman – and thousands of others – with almost…
NEW DELHI: Devendra Jain was abducted one muggy Mumbai afternoon last September, whisked away in a car by angry investors of an insolvent firm he was tasked with reviving. The chartered accountant says he stood outside the firms midtown office that day, by a bustling main street. Suddenly a group of investors walked up, demanding…
A Braddon candidate declared bankrupt a decade ago says he won’t pull out from this weekend’s by-election even though he’s likely to be ineligible to sit in parliament. Australian People’s Party candidate Bruno Strangio was declared bankrupt in 2008 – undischarged bankrupts are ineligible to sit in parliament. Bruno Strangio, He was one of 13…
FORMER associates of Kimberley Kampers director Todd Cannock have raised questions about his conduct in recent months as it emerges he “repossessed” the former owner’s four wheel drive in a bizarre move. Bruce Loxton, who successfully ran Kimberley for 14 years until the financial fallout of a marriage breakup forced him to bring a partner…
UPDATE, 10.55am: SACKED overnight en masse, shocked and saddened Kimberley Kamper employees have been collecting their personal items from the gated Ballina factory this morning. Administrators from insolvency form SV Partners and a security guard have been letting workers in seven at a time into the complex in what is a coldly formal process. Workers…
July 26, 2018 The Chandigarh bench of the National Company Law Tribunal (NCLT) on Wednesday approved the resolution plan by single bidder Liberty House to acquire the assets of debt-laden Amtek Auto Ltd. The company was among the first list of 12 large bad loan accounts that the Reserve Bank of India (RBI) identified for…
A Braddon candidate declared bankrupt a decade ago says he won’t pull out from this weekend’s by-election even though he’s likely to be ineligible to sit in parliament. Australian People’s Party candidate Bruno Strangio was declared bankrupt in 2008 – undischarged bankrupts are ineligible to sit in parliament. Bruno Strangio, He was one of 13…
Scottish personal insolvency numbers rise 25 July 2018 Image copyright Getty Images The number of personal insolvencies in Scotland rose between April and June, according to new figures. Accountant in Bankruptcy (AiB) reported 3,208 bankruptcies and protected trust deeds (PTDs) during the first quarter of the financial year. The figure was up 11.8% on the…
More Scots are falling into serious financial difficulty as inflation and slow wage growth affect household budgets. Figures from the Accountant in Bankruptcy showed more than 3,200 people entered personal insolvency between April and June, a rise of almost 12 per cent compared with the same period last year. The increase followed a 27.5 per…