Category Archives: Bankruptcy

Debt-strapped Greensill should be liquidated, Grant Thornton says – The Australian Financial Review

Grant Thornton also said that if the company goes into liquidation, the liquidators would investigate several transactions between Greensill Capital Pty Ltd – the Australian parent company – and the Greensill family and farming companies, as well as several director-related transactions. Our findings in relation to unreasonable director related transactions, while only preliminary, have identified…

Sanjeev Gupta: Credit Suisse tries to wind up Whyalla steelworks – The Australian Financial Review

Credit Suisses group chief executive officer, Thomas Gottstein, said on Tuesday that the bank would learn serious lessons from losses incurred at Archegos as well as the liquidation of its supply-chain finance funds as he warned investors of a CHF4.4 billion ($6.15 billion) charge and confirmed the departure of the banks chief risk officer, dual…

Top news in credit by Credit Strategy – Personal insolvencies spike 60% – Credit Strategy

The total of 10,941 personal insolvencies for March included 1,591 DROs and 1,028 bankruptcies. The bankruptcies were made up of 937 debtor applications and 91 creditor petitions. The numbers of DROs and bankruptcies in March 2021 were both 31% lower than in March 2020. There were, on average, 6,388 IVAs registered per month in the…

Business rescue: are zombie companies on the rise? – economia

There are a high proportion of zombie companies in the UK. The COVID-19 pandemic has created the perfect environment to create more. The UK has had a zombie problem for some time now. Companies that simply exist, shambling onwards without ever turning a profit or contributing meaningfully to the economy. These zombie companies have played…

UK insolvencies rise, but still below pre-pandemic level – Reuters

By David Milliken 2 Min Read LONDON, April 15 (Reuters) – More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic. Britains economy shrank by almost 10% last year and…

UK insolvencies rise, but still below pre-pandemic level – Financial Post

Article content LONDON More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic. Britains economy shrank by almost 10% last year and millions of people have been unable to work…

Can a COVID-stricken Business Walk Away from a Bounce Back Loan Debt? – Lawyer Monthly Magazine

While businesses recover from cash shortfalls and adapt to constantly shifting public health measures, the financial health of all sized businesses remains at serious risk. Larger businesses with naturally more cash reserves than smaller businesses are well equipped to withstand the pressures posed by the pandemic, however, the impact is likely to be grave following…

Money Talks: I am in major credit card debt and I don’t know how to begin to pay it back – Irish Examiner

Over the last year, I have been buying a lot online and have racked up a lot of debt across two credit cards and my overdraft. Every time I receive a bill I feel like I am going to have a panic attack, so I have been ignoring them. I don’t know where to begin…

Business – Nobiskrug’s insolvency explained – Superyacht News – The Superyacht Report

The provisional insolvency administrator isin the process of analysing the companys financial position Nobiskrug, the German shipyard that specialises in the construction of custom superyacht projects over 60m, has filed for insolvency. The Neumnster district court has appointed Hendrik Gridmann, a restructuring expert from Hamburg law firm, Reimer, as the provisional insolvency administrator. Gridmann and…

Katie Price ‘owes £3.2 MILLION to creditors two years after being declared bankrupt’ – Daily Mail

Katie Price ‘owes 3.2 MILLION to creditors because she’s failed to pay off her debts – two years after being declared bankrupt’ By Laura Fox For Mailonline Published: 01:48 AEST, 14 April 2021 | Updated: 02:06 AEST, 14 April 2021 69 View comments Katie Price reportedly owes more 3.2 million to her creditors after accountants…