The upswing was the first increase since Q1 2014, and was mainly driven by an increase in compulsory liquidations, which were at the highest level since Q1 2015. A total of 804 companies were subject to a compulsory winding-up order in Q1 2016, a 36% increase on the previous quarter but 11.5% lower than Q1…
MORE companies went into insolvency in the first three months of 2016 at 3,694 than they did in the final quarter of 2015 but still some 3.6% below the same period in 2015, the latest figures from the Insolvency Service reveal. The 5.4% rise marked the first uptick since Q1 2014, primarily caused by a big…
The amount UK consumers owe on loans and credit cards grew by £1.9bn in March, the highest figure in 11 years driven by a sharp rise in spending on plastic. Bank of England figures show outstanding borrowing on credit cards increased by £635m over the month, compared with an average increase of £400m over the…
The number of people going into a type of personal insolvency known as “bankruptcy light” increased during the first three months of 2016, official figures show. The Insolvency Service said 6,722 debt relief orders (DROs) were taken out between January and March across England and Wales – marking a 3.4% increase compared with the previous…
Reforms to Australian corporate insolvency law are in the wind. Various pressures periodically emerge that generate calls for reform of the law of directors duties. However, many in the company director fraternity would claim that the century-long creep in raising the liability of directors has extended too far. One argument is that the law erodes…
The Insolvency Service will publish figures showing the number of people going insolvent between January and March. The number of people going into a type of personal insolvency known as “bankruptcy light” is expected to have increased during the first three months of 2016 in official figures released on Friday. The Insolvency Service will publish…
The GSPCs loans for gas exploration increased from zero to nearly Rs.20,000 crore when its own estimates of reserves in the Krishna-Godavari basin kept coming down sharply In 2005, two different business groups forayed into new ventures. One into commercial aviation, the other into gas exploration. Both announced their entry in a grandiose manner one…
THE financial health of Scottish business is improving with corporate insolvencies falling, the latest Scottish insolvency statistics reveal. The upbeat snapshot was revealed from the most recent quarterly figures compiled by Accountant in Bankruptcy (AiB), the body responsible for administering the process of personal bankruptcy and recording corporate insolvencies in Scotland, for the fourth quarter of…
Suggests Insolvency Code should apply on foreign assets of personal guarantor too New Delhi, April 28: In an employee friendly move, a Parliamentary Panel has pitched for faster and enhanced payment of workmen dues and employee wages in the corporate insolvency process. Not only has the Joint Committee on the Insolvency and Bankruptcy Code 2015…
The number of people going into a type of personal insolvency known as “bankruptcy light” is expected to have increased during the first three months of 2016 in official figures released on Friday. The Insolvency Service will publish figures showing the number of people going insolvent between January and March. There are three types of…