Fears grow for UK councils after second city declares insolvency – Yahoo News

Local government bodies on Tuesday warned that more councils across the UK could declare themselves in financial dire straits, after the country’s second biggest city said it could not balance its books. Birmingham City Council in central England said it had issued a Section 114 Notice under the Local Government Finance Act 1988, effectively declaring…

Holland Norway Lines declared bankrupt – NI Ferry Site – Ferry News & Information

Holland Norway Lines was declared bankrupt this morning, just under eighteen months after the start of its ferry service. Things moved quickly after the company asked for payments to be suspended last Wednesday 30 August. An administrator was appointed the same day as required under Dutch law. The charter for Holland Norways only ferry, ROMANTIKA,…

Understanding Insolvency and Restructuring: A Comprehensive Guide to Navigating Financial Distress for Businesses – Finance Monthly

A Deep Dive into Insolvency and Restructuring with Claire Middlebrook of Middlebrooks Insolvency Practitioners Claire Middlebrook stands out in the ever-evolving world of insolvency and restructuring with her hands-on experience and unique perspective. Having kick-started her career with Arthur Anderson and eventually launching Middlebrooks, her trajectory speaks volumes about her expertise in the sector. As…

What does it mean when a council declares bankruptcy? – The New Statesman

Croydon Council has declared bankruptcy for the third time in two years. Photo by Dan Kitwood/Getty Images. This article was originally published on 19 December. It has been republished following the news today (5 September 2023) that Birmingham council has issued a Section 114 notice, which effectively freezes spending. Today, Labour-led Birmingham Council declared bankruptcy,…

Begbies buys Welsh insolvency firm and eyes further expansion … – The Business Desk

Begbies Traynor Group has acquired Jones Giles & Clay, one of the leading business recovery and insolvency practices in Wales. The deal announced on the London Stock Market this morning (5 September) sees Begbies Traynor welcome four experienced team members to its Cardiff-based team, including directors Sue Clay and Vaughan Jones, who were the principals…