Director disqualifications: 55% tied to Covid abuse

More than half of the 3,280 company directors banned in Great Britain since 2023 were caught abusing Covid-19 financial support, new figures reveal, proof that the pandemic’s emergency lending schemes are still claiming casualties five years on. Data released by the Insolvency Service, obtained through Freedom of Information requests by law firm Weightmans, shows that…

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Why small business insolvency numbers are expected to rise

Small business insolvencies are expected to worsen as Labor’s changes to negative gearing and capital gains tax slow the economy and eventually hit bigger corporations, a leading insolvency expert fears. The Reserve Bank of Australia’s three interest rate rises this year have already worsened the rate of companies going into external administration for the first…

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NZ bankruptcy figures mask 450,000 in arrears

The recovery signal that isn’t New Zealand’s personal insolvency numbers are falling, and on paper that reads like good news. Formal proceedings have dropped from more than 3,000 a year in 2017/18 to fewer than 1,500 in 2024/25, covering bankruptcy, no asset procedures and debt repayment orders administered by the Official Assignee. But a falling…

TV Azteca Wins Bankruptcy Protection for Debt Restructuring

A Mexico City district court has formally placed broadcaster TV Azteca under commercial bankruptcy protection after the company defaulted on payment obligations totaling MX$23.345 billion. The ruling grants a one-year conciliation period to negotiate a debt restructuring, temporarily halting asset seizures and the enforcement of most pre-petition liabilities to preserve operations. The case has significant…