There were 1,675 personal insolvencies recorded in the fourth quarter of last year, less than the previous year, but a figure that is masking a potential steep rise in cases once Covid-19 support stops and courts return to full capacity. Official figures from Accountant in Bankruptcy (AiC) showed that that 67% of insolvencies were from…
Insolvency practitioners have been urged to steer clear of dual appointments, contentious referral relationships and other conflicts of interest as the regulator issues a new report shining a spotlight on independence threats. The Australian Financial Security Authority (AFSA) on Wednesday released a new report, Practitioner independence in the personal insolvency system, to clarify what practitioner…
By Douglas FraserBusiness and economy editor, Scotland image copyrightGetty Imagesimage captionThe number of insolvencies is expected to rise despite coronavirus restrictions easing The number of Scottish companies facing insolvency is expected to rise steeply as government loans have to be paid. It comes despite restrictions on the economy being relaxed. R3, the trade body for…
When restructuring a company in distress, early specialist engagement is vital says Ryan Grant, Partner in BDO and an Insolvency Practitioner. When a business is running out of cash, options are severely limited, says Grant. A complication of the pandemic is that many companies have built up significant legacy creditor positions and these will have…
Greater Sudbury council says it’s renewingits call to the province to intervene in the insolvency proceedings that are currently underway at Laurentian University. This is the second time the citywill officially petition the province on the matter, which began Feb. 1, when the university declared itself financially insolvent and entered restructuring proceedings under theCompanies’ Creditors…
Kerry Katona attends the Paul Strank Charity Gala supporting Shooting Star Children’s Hospices & Rays of Sunshine Charity at the Bank of England Sports Centre in London. (Photo by Keith Mayhew/SOPA Images/LightRocket via Getty Images) Kerry Katona has revealed that she’s bought her own home after “losing everything” 13 years ago. The mother-of-five ran into…
Fenix, the majority shareholder of Maltese Falcon builder Perini Navi, has announced plans to save the iconic Italian shipyard from bankruptcy. The firm has signed an agreement with private equity firm Clessidra and another investor to relaunch the luxury Italian shipyard, Reuters reports. Reports add that Fenix aims to inject a significant capital increase to…
It seemsthat patience is beginning to wear thinwith our seemingly never-ending mortgage crisis. nd that position is not just held by those of a right-wing bent or those with little empathy for the plight of others. Mortgage debt campaigner David Hall is among those who think it has all been going on for too long.…
Katie explained why she loves being bankrupt (Picture: Ken McKay/ITV/REX) A recently-engaged Katie Price has insisted being bankrupt is the best thing to happen to her as she laid bare her financial struggles. The star, who revealed her engagement to Carl Woods last week, said she loves being bankrupt as it means no one can…
Insolvency Of Personal Guarantors To Companies: An Atmosphere Of Uncertainty Top Begin typing your search above and press return to search. Read the full article at: https://www.livelaw.in/law-firms/articles/insolvency-personal-guarantors-companies-uncertainty-173206