A summary of the legal and regulatory framework for consumers All insolvency practitioners are expected to follow and comply with a legal and regulatory framework, which ensures that there is an effective insolvency profession that delivers fair outcomes for the people and businesses impacted by their work. The legal framework includes the Insolvency Act 1986…
By David Milliken LONDON (Reuters) – Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy. Britain suffered its sharpest fall in economic output in more…
KATIE Price is looking to buy two more horses – despite being made bankrupt. Katie, 42, is hoping to snap up a new dressage horse from overseas and has also been looking at ponies for her youngest daughter Bunny, six. 6 Katie Price wants to buy a new horse from HollandCredit: Getty Images – Getty…
Data Tables in Excel (xlsx) Format – Company Insolvency Statistics January to March 2021 MS Excel Spreadsheet, 1000KB This file may not be suitable for users of assistive technology. Request an accessible format. If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format,…
Our memory is short and lessons from the past may not always ward off the doom. This is especially true of the VUCA environment we live in, that is Volatile, Uncertain, Complex and Ambiguous. Repeatedly we witness, overconfident and over enthused entrepreneurs erupting on the business stage with their disruptive but complex business models and…
The number of people going financially insolvent after being unable to pay their debts across England and Wales fell by 5% in the first three months of this year. ome 29,140 personal insolvencies were recorded between January and March, the Insolvency Service said. It said the number of insolvencies was 5% lower than in the…
A Blackburn fraudster who had been made bankrupt tried to hide his inheritance by putting it in his wifes bank account, a court heard. Dad-of-three Neil Thomas Maloney was declared bankrupt in December 2015 after he owed creditors a total of 17,848.30. The car parts dealer was due to be discharged from his bankruptcy in…
By David Milliken LONDON (Reuters) Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy. Britain suffered its sharpest fall in economic output in more than…
The High Court has refused to approve a Personal Insolvency Arrangement (PIA) under which a pensioner would be making mortgage repayments on her home until she was aged 98. In what is regarded as an important test case, Mr Justice Mark Sanfey said 69-year-old Ann Fennell, who owes Ulster Bank some 72,500, would not be…
With the fallout from the novel coronavirus pandemic for many being either job loss or business closures, the possibility of needing to find shelter under the provisions of the Insolvency Act is all too real. What happens, however, to your lease? As the tenant who needs rescue, are you likely to be kicked out of…