Woking Borough Council says the government has agreed to “aid the reduction” of its multi-billion pound debt.

The bailout will initially cover the debt owed by the effectively bankrupt borough in 2026-27 but could be extended if needed, according to the Local Democracy Reporting Service.

Council leader Ann-Marie Baker said: “It marks an important step towards addressing our debt position as part of wider discussions on the future structure of local government in Surrey.”

The Ministry of Housing, Communities, and Local Government has been contacted for comment.

Woking declared itself effectively bankrupt in 2023 with £2bn of debt, and has since increased council tax and cut services.

The problem has spilled into neighbouring councils after…

When I was a medical student in Boston, my father — who lived in California — had a heart attack. He was hospitalized for a few days and received a stent in one of his heart’s arteries. The procedure went smoothly, and he was discharged without complications.

Four days later, the medical bills arrived. The total? $126,000 — four times my father’s annual income. “If the heart attack did not kill me, this will,” he told me.

My father’s experience is far from unique. Approximately 79 million Americans struggle with medical bills or paying off medical debt. This burden disproportionately falls on lower-income earners, racial minorities, parents and those in poor health. When faced with medical debt, households cut back on…

Woking Borough Council says the government has agreed to “aid the reduction” of its multi-billion pound debt.

The bailout will initially cover the debt owed by the effectively bankrupt borough in 2026-27 but could be extended if needed, according to the Local Democracy Reporting Service.

Council leader Ann-Marie Baker said: “It marks an important step towards addressing our debt position as part of wider discussions on the future structure of local government in Surrey.”

The Ministry of Housing, Communities, and Local Government has been contacted for comment.

Woking declared itself effectively bankrupt in 2023 with £2bn of debt, and has since increased council tax and cut services.

The problem has spilled into neighbouring councils after…

Date published:
1 May 2025

The undertaking was received for four years from Cleiona Bridget Collins (51) of Striff Lane, Omagh, in respect of her conduct as director of Little Angels Daycare Loughmacrory Limited (“the Company”).

The Company was involved in children’s daycare with a registered office at 30b Gortin Road, Omagh, Co. Tyrone, BT79 7HX. The Company went into liquidation on 24 August 2022 with an estimated deficiency as regards creditors of £86,345.15. There…

The plea filed by invoice discounters of a Reliance Retail-backed company has sought admission of Dunzo into the Corporate Insolvency Resolution Process (CIRP). The matter was first listed for pronouncement on April 4, but the NCLT had then also said it had not been able to finalise the order. It was subsequently relisted for April 28 (Monday).

However, on April 28, the Tribunal stated that it required three more days to complete the order. On May 1, the matter was again listed, but the coram reiterated that the delay was due to time constraints.

During the hearing, lawyers appearing in the matter asked whether the Tribunal required any further clarification or assistance. It responded that the delay was purely due to their inability to…

When a company becomes financially distressed, directors are often required to act quickly and decisively. However, directors may at the same time find themselves held back by the requirements of the Corporations Act 2001 (Cth) (the “Corporations Act”) or their company constitution.

Whilst it is not unusual for financially distressed companies to grapple with matters of corporate governance, issues present where these matters permeate the ability of directors to appoint a voluntary administrator, or call into question the validity of such an appointment.  Critically, directors of financially distressed companies may be unable to assemble the necessary quorum to pass a resolution to appoint a…

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[HONG KONG] China Evergrande Group chairman Hui Ka Yan plans to refuse disclosing details of his assets, its liquidators said, likely complicating efforts to wind up the defaulted builder to pay back creditors.

Hui expressed his intention in an Apr 23 response to the court, a lawyer representing the liquidators said in a Tuesday (Apr 29) hearing at the Hong Kong High Court. Hui’s lawyer, who was at the hearing, did not push back on the liquidator’s statement.

While the liquidators argued for the earliest date possible for the hearing to resume, Hui’s lawyer asked the court for more time given that the case is “complex” and “sensitive”. The judge said the hearing on Hui’s case will not be held before Jun 30.

Tuesday’s…