LATEST figures reveal personal insolvency has sky-rocketed in one Coast suburb and continues to climb in another. The total number of debtors in Nambour jumped from 17 in the March Quarter of 2017 to 27 in the June Quarter of this year. Personal insolvency also increased in Maroochy, from 24 debtors to 27 in the…
Sources said it was attended by State Bank of India (SBI) and Punjab National Bank (PNB), among others. (Image: Reuters) A group of top lenders on Monday met officials from the Indian Banks Association (IBA) to review the progress of insolvency proceedings against 12 companies sent to the National Company Law Tribunal (NCLT). Sources said…
LEROY, Texas (KWTX) It was a Friday, the end of the week, on Aug. 7, 1987 as storm clouds gathered over the uninsured Leroy Bank which on this day announced it was closing. “I had friends that lost everything they had,” Albert Miller, 94, said. The bank was private and not insured by the Federal…
NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority. Across the Hunter there were 215 cases of personal insolvency in the June quarter of 2017, with Newcastles 43 debtors the largest in the state outside of Sydney. Across Australia there were 7,729 debtors who entered a…
PUBLISHED: 17:08 07 August 2017 | UPDATED: 17:08 07 August 2017 Seaside towns like Great Yarmouth have been found to have a higher than average rate of personal insolvency. Picture: James Bass Archant Norfolk © 2014 Coastal towns have dominated a list of the top areas for personal bankru… Read the full article at: http://www.ipswichstar.co.uk/news/coastal-town-s-including-great-yarmouth-and-ipswich-dominate-personal-bankruptcy-list-1-5139213
Paravion, Romanias biggest online tourism portal, has filed for insolvency and will close bavul.com, the Turkish-based portal it purchased in 2014. The company will implement a restructuring plan starting August 8. In the past year, Paravions Turkish portal, bavul.com, which represents one third of the business, recorded losses, due to the political instability and security…
Weeks after the National Company Law Tribunal, Kolkata, admitted an insolvency plea against Binani Cement filed by Bank of Baroda, ET NOW learns that top domestic cement players are making a beeline for the sought-after assets of the Brij Binani Group company in a bid to bolster their pan-India presence and a strike a potential…
The Deposit Insurance Agency of Russia has filed a lawsuit with the Arbitration Court of Tatarstan to declare Robert Musin, former Chairman of the Board of Tatfondbank detained for swindling on an especially large scale, bankrupt. The plaintiff requires to recognize the banker insolvent because the total sum of financial claims filed against him some…
Bank representatives are to meet here on Monday for a review of the work done on the resolution process under the Insolvency and Bankruptcy Code (IBC). It would be the first such exercise since the Reserve Bank of India (RBI), on June 13, directed action on 12 big-size bad loan cases. The…
Commerce Ballarat’s David Wright says insolvency has many causes. Ballarat recorded 45 new personal insolvencies in the last three months to make it a regional hot spot for debt. It puts Ballarat close to Geelong, with 59, and well ahead of Bendigo, with 29. There were also seven new business related insolvencies in the city with…