Distress signal: construction, admin and retail are all seeing greatest number of insolvencies Small business insolvency rose by 6.3pc in the first three months of 2019 compared with the previous quarter. There were 4,187 company insolvencies between January and March this year, according to The Insolvency Service. Construction, administration and retail sectors all struggling with…
The former One Nation senator Rodney Culleton and Huw Kingston, the independent challenging energy minister Angus Taylor in the New South Wales seat of Hume, have blasted the Australian Electoral Commission for failing to investigate the potential ineligibility of Clive Palmers United Australia party candidates. Kingston, whose UAP opponent in the seat south of Sydney…
Perth mining boss Michael Fotios has been declared bankrupt after a long-running battle with the Australian Taxation Office. The Federal Court ordered yesterday his estate be sequestrated under the Bankruptcy Act, after an application by the Deputy Commissioner of Taxation. Mr Fotios declined to comment. The bankruptcy will automatically disqualify him from being a director,…
According to The Insolvency Service, the fall was largely driven by a decrease in the number of individual voluntary arrangements (IVAs), though both debt relief orders (DROs) and bankruptcies fell slightly from Q4 2018. In all, there were 115,319 personal insolvencies in 2018. The quarter-on-quarter decrease in total individual insolvencies in the first quarter of…
LONDON (Reuters) – The number of companies falling into financial distress in England and Wales rose in early 2019, adding to signs that businesses struggled in the run-up to the original March Brexit deadline, official data showed on Tuesday. FILE PHOTO: A woman walks past closing down posters in the window of a branch of…
FILE PHOTO: A man speaks on his mobile phone as he walks past a closed shop painted with an advertisement of Reliance Communications in Mumbai, India, February 4, 2019. REUTERS/Francis Mascarenhas MUMBAI (Reuters) – An Indian appellate tribunal has lifted a stay on insolvency proceedings against business tycoon Anil Ambanis debt-laden Reliance Communications, the Economic…
LONDON, April 30 (Reuters) – The number of English and Welsh companies falling into financial distress rose sharply in early 2019, according to official data published by the government on Tuesday. There were 4,187 underlying company insolvencies in the first quarter, up from 3,938 in the fourth quarter, the Insolvency Service said, citing seasonally-adjusted data…
There were 4,187 total underlying company insolvencies in Q1 2019, 6.3% more than in Q4 2018. Compared to the same quarter last year, this was an increase of 5.1% and marks the second highest underlying level of insolvencies in any quarter since Q1 2014. The hike was driven by increases in company voluntary liquidations (CVLs)…
Australias most infamous property spruiker Rick Otton, the controversial How To Buy A House For $1 author, has filed for bankruptcy, crippled by the largest fine in corporate history. It comes five months after he and his company were fined $18 million for misleading property investors following ACCC legal action. The Federal Court judgment found…
News 30 Apr 2019 02:17pm The number of UK businesses in significant financial distress in the first quarter of 2019 has increased 1.4% year-on-year to 484,000 The latest Red Flag Alert from independent insolvency firm Begbies Traynor has found that 16% of all UK businesses were in financial distress at the end…