Is it better to die in debt or declare bankruptcy in retirement? – MarketWatch
Is it better to die in debt or declare bankruptcy in retirement? MarketWatch Read the original article here
Boris Becker discharged from bankruptcy court in England
German tennis legend Boris Becker was discharged from bankruptcy court in London after a judge found he had done “all that he reasonably could do” to repay creditors tens of millions of pounds. Becker fell far short of repaying his creditors nearly $95 million he owed, but Chief Insolvency and Companies Court Judge Nicholas Briggs…
Birmingham City Council’s equal-pay claims lower than estimated
The city council of Birmingham, located in the country’s midlands, was slammed with a ginormous equal-pay claim worth up to £760 million ($955 million), following which it said the council had “insufficient resources” to make those payments. As a result, the council was forced to make drastic cost cuts, resulting in the sacking of 600…
‘Bankrupt’ Thurrock Council needs to borrow extra £26m
A local authority that is effectively bankrupt needs to borrow £206.7m from the government to balance its 2023-24 budget, a report revealed. Thurrock Council had initially planned to borrow £180.2m but a provisional financial outturn report suggested an extra £26m was needed. The government appointed commissioners to oversee the council after a series of bad…
Katie Price finally sells Mucky Mansion for eye-watering sum during bankruptcy drama | Celebrity News | Showbiz & TV
Katie Price‘s former home has been bought just a week after it appeared on the market, according to The Sun. The former glamour model moved out of her mansion in May after being handed an “eviction notice.” The reality TV star, who was previously declared bankrupt in 2019, moved into her £2 million mansion in…
Riddle of where Tommy Robinson REALLY gets the money to whip up riots engulfing Britain from his five-star sunlounger – despite once being declared bankrupt and ‘squandering a fortune on gambling and drinking’
When Tommy Robinson first entered the national consciousness, it was as an angry young man leading a group of football fans onto the streets of Luton to clash with Islamist activists disrupting a homecoming parade of soldiers returning from Afghanistan. Fifteen years on and while the message and the rage remain, plenty has changed. As…
Dutch e-bike maker VanMoof declared bankrupt – Reuters
Dutch e-bike maker VanMoof declared bankrupt Reuters Read the original article here
Annual ASIC insolvency data reveals increase in companies failing
ASIC’s annual insolvency data shows more than 11,000 companies entered external administration for the first time in 2023-24. While this is slightly higher than prior peaks seen in 2011–12 and 2012–13, it is proportionately smaller as there are now nearly 3.4 million companies in Australia compared to around two million in 2012. The current ratio…
My Tiny Home Kit may have been trading insolvent for a year, had ‘no real prospect of delivery’, liquidator finds
In short: A liquidator says the business My Tiny Home Kit had no real prospect of actually delivering homes and may have been trading while insolvent. The company owes customers more than $3.4 million, according to initial estimates. What’s next? The liquidator says further investigation into the business is required. There is also an ongoing…
China Opens Probe of Indebted Asset Management Firm
Beijing — Chinese police have opened an investigation into Zhongzhi Enterprise Group after the debt-ridden financial giant declared itself insolvent. Police in Beijing, where the group is headquartered, said late Saturday they had opened an investigation into unspecified “alleged offenses,” adding that they had taken measures against several suspects. Zhongzhi declared itself insolvent Wednesday with…