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…
During the pandemic, many jurisdictions amended their insolvency laws to lessen the impact of the pandemic. In some cases, these amendments operated on a temporary basis until the impact of the pandemic abated. In other cases, more permanent reforms were introduced to improve insolvency legislation generally. In Australia, as noted in the recent report of…
On the ropes due to a lack of consumer spending in its international markets, UK-based party goods manufacturer and retailer Wonder Group (formerly Amscan International) is on the verge of entering into administration. According to reporting from Sky News from yesterday, Wonder is preparing to appoint an insolvency advisor to see it through the UKs…
Fisker was once seen as a potential challenger to Tesla, however, the company by Danish car designer Henrik Fisker never reached a comparative size and fell far short of (its own) expectations in terms of unit sales. And it had been struggling for a long time: the companys great hope, the Ocean electric SUV, was…
In May 2024, the number of registered company insolvencies in England and Wales was 2,006, 6.4% lower than in April 2024. The worst hit sector was construction, accounting for 18% of company collapses, with 4,401 insolvencies in the 12 months to April 2024, reaching a total of 4,401. There is also a stark reminder that…
Published at 18 Jun 2024 Statistics from The Insolvency Service, while in part positive, reveal that businesses in all four nation… Statistics from The Insolvency Service, while in part positive, reveal that businesses in all four nations of the UK continue to face challenging times. The latest UK company insolvency statistics for May 2024, released…
Michelle Elliot Company insolvencies in Scotland rose by 22% year-on-year in May 2024, reaching 118. The latest data from the Insolvency Service showed this was comprised of 71 CVLs, 43 compulsory liquidations and 4 administrations. There were no CVAs and no receivership appointments. The total insolvency rate in Scotland in the 12 months to May…