The latest insolvency statistics for May 2024 show corporate insolvencies decreased by 6.4% in May 2024 to a total of 2,006 compared to April’s total of 2,144, and decreased by 21.2% compared to May 2023’s figure of 2,547. Personal insolvencies decreased by 3.5% in May 2024 to a total of 9,266 compared to April’s total…
New Delhi: The Insolvency and Bankruptcy Code (IBC) offers defaulting firms an opportunity for restructuring debt, which is “beneficial for personal guarantors seeking to resolve their financial difficulties”, the Ministry of Corporate Affairs (MCA) said in a communication to stakeholders.Personal guarantors give lenders an assurance of the repayment of loans taken by corporate debtors. Usually,…
The Insolvency Service of Ireland, which helps people tackle personal debt problems, said it saw an increase in demand for its services last year with applications for insolvency solutions, other than bankruptcy, increasing by 20% compared to 2022. In its annual report today, the ISI said 72 people were adjudicated bankrupt in 2023, down from…
Former glamour model Katie Price has been declared bankrupt for a second time over an unpaid tax bill of more than 750,000. Ms Price, who was previously declared bankrupt in 2019, owes 761,994.05 to HM Revenue and Customs (HMRC), a court was told on Monday. At a short hearing at London’s Rolls Building, Insolvency and…
RetireAustralia says it is committed to completing the 42 independent living apartments at Tarragal Glen Retirement Village at Erina despite the building company entering into voluntary administration. Stevens Construction (NSW) Pty Ltd, a major Central Coast company, announced on May 27 it had entered voluntary administration after almost two decades in the construction industry. Described…
The Court of First Instance of Curacao has declared United Caribbean Airlines BV and JetAir Caribbean BV, collectively operating as JetAir, bankrupt. JetAir was the sole airline based in Aruba, Curaao, and Bonaire with jet aircraft, offering scheduled and charter flights connecting Curaao with Aruba, Bonaire, Jamaica, the Dominican Republic, Haiti, St. Maarten, Suriname, and…
The JetAir website is now dominated by a bankruptcy notice. Credit: jetaircaribbean.com United Caribbean Airlines, which operated under the name JetAir Caribbean, has been declared bankrupt by the courts in Curaao, the island in the Dutch Caribbean where JetAir operated from. The Court of First Instance in Willemstad, Curaaos capital, appointed C.M. van Liere and…
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures fell by 4% in May 2024 with a total of 9,266 personal insolvencies registered when compared to last month. Personal insolvencies decreased by 7.2% when compared May 2022s total of 9,986 and decreased by 15.7% compared to pre-pandemic…
The National Company Law Tribunal, Delhi Bench, comprising Shri Bachu Venkat Balram Das (Judicial Member) and Shri Atul Chaturvedi (Technical Member), while adjudicating an application under Section 95 of Insolvency and Bankruptcy Code, 2016 (IBC, 2016) has held that the applicant has approached all possible forums for remedies, constituting forum shopping. It was stated that…
Latest monthly statistics from the Insolvency Service have shown that business insolvencies increased quadrupled, whilst personal insolvencies fell by over 25%r in Northern Ireland in May 2024. The data showed that there were 44 company insolvencies registered in Northern Ireland, the figures were four times higher than in May 2023. The business insolvencies comprised of…