The UKs largest personal insolvency provider has announced its expansion with the opening of a new office and subsequent recruitment drive in Greater Manchester. Creditfix, which looks after tens of thousands of people who struggle with their money each year, has confirmed significant expansion in their office in Lowry Mill in Swinton, Salford. The new…
The mother allegedly disappeared after the collapse of her marriage, which happened about the time she was declared bankrupt. The court heard she vanished during a custody dispute, and believed the girls were being abused by their father. There was no evidence to support that claim, the court heard. Since the woman was located, the…
A mother who allegedly fled Queensland with her twin daughters and hid them from their father for four years has been granted Supreme Court bail. The 45-year-old was charged with two counts of child stealing after she was allegedly found with the girls, aged 11, in the NSW town of Taree two weeks ago. She’s…
Liquidators for failed reseller Warehouse1 have indicated that the company may have traded while insolvent as early as seven months before its collapse. Warehouse1 sank into liquidation in February after four years of operating an online IT retail store and brick-and-mortar location in Melbourne, appointing SV Partners to handle the liquidation. While SV Partners said its…
In this 12-part Cadence Investing Series, we discuss several aspects of the investment process and how it actually works in practice. Topics covered include market psychology and fundamental analysis, and aim to provide the reader with a first-hand view of how financial theory stacks up in real world situations. ———————————————————————————— This is the first of…
Billionaire Mukesh Ambanis prospects for bailing out his younger brothers phone company are fading after an Indian tribunal put his siblings Reliance Communications Ltd. into insolvency proceedings, which prohibit connected persons from acquiring assets of delinquent borrowers. Ambani is Indias richest man and the founder of upstart rival Reliance Jio Infocomm Ltd., which had agreed…
THOUSANDS of new homeowners have been left without vital structural defects insurance after insurance carrier Alpha goes bust. Many homeowners who require the 10-year structural defects insurance will still be unaware that they have been left without cover. Alpha, who supplies the insurance new homes require to protect against structural defects, was declared insolvent in…
When the Insolvency (England and Wales) Rules 2016 (IR16) came into force on 6 April 2017 it was clear that significant amendments to the Practice Direction on Insolvency Proceedings were needed as it had been in force since 2014 and was based upon the Insolvency Rules 1986. A planned interim practice direction was never created,…
As banks and financial institutions try to resolve the bad loan cases there is huge demand for insolvency resolution professionals. So far, chartered accountants, company secretaries and lawyers have walked away with the mandate to provide resolution professional services. Non-professionals, including graduates from non-commerce backgrounds and having management experience of 15 years, and who have…
A scathing MPs report into the collapse of Carillion has revealed the stricken construction giant paid almost £4 million to an array of City firms in the days before it was declared insolvent. According to todays report, on 12 January, three days before the company went under and one day before chairman Philip Green wrote…