Latest figures revealed by the Insolvency Service show that £57.5 million has been returned to the UK economy in the past year, and over 69,000 people have been supported through emergency redundancy payments. The Annual Report and Accounts show that Insolvency Service Official Receivers handled 10,817 new insolvency cases during 2024-25 , this has resulted…
“Those payments left Special Gold unable to pay its debts, including tax liabilities, which in turn led to penalties and interest liabilities. The payments from the SBI account … appear to be in breach of the freezing orders,” the judge found. Thyge Trafford-Jones was appointed administrator of Special Gold on December 6, 2023, and six…
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The level of Australian businesses going under appears to be stabilising, but firms are still becoming insolvent at record-high numbers. Restaurants and construction firms remain hardest hit in CreditorWatch’s monthly Business Risk Index, which found more than 14,000 businesses went bust in the 2024-25 financial year. But income tax cuts and government cost of living…
NCLAT Fortnightly: Important orders on IBC (May 1 – May 15, 2025) Bar and Bench Read the original article here
Ransomware and data extortion attacks are unfortunately becoming increasingly common (see for example, high profile attacks on Canva,1 Latitude Financial2 and recently the Legal Practice Board of Western Australia).3 These attacks typically involve a party (commonly referred to as a ‘threat actor’) accessing and encrypting a company’s systems, and/or exfiltrating (stealing) personal and commercially sensitive…
Sasol warns of risk to Natref as partner enters business rescue News24 Read the original article here
Transport on the brink: Trucking companies collapse in record numbers The Australian Read the original article here
Customers pick the cheapest freight option for each direction, which brings down the overall price any one business can economically sustain. Image: jovannig/stock.adobe.com You can’t get blood out of a stone, so the driver in our lives tells us, yet the industry and society (or customer(s)) seem to expect it. Generally, the working population can…
Anil Ambani Named in Fraud Account by SBI; Rs3,000 Crore Exposure Confirmed by Govt in Parliament Moneylife Read the original article here