Insolvency Guardian Media Centre
It’s rare to see a company founded in the 17th century still operating today, but that was the case for the renowned Hudson’s Bay Company. Once a dominant force that governed what is now Canada for over 200 years, and one of the most legendary businesses in North America, it now finds itself on the brink of bankruptcy. Today, the company owns just six remaining stores, and a judge has given it until early May to avoid full liquidation.
Origins of the Hudson Bay Company
While countries like Spain, France, and Portugal created “state-companies” focused on conquering land and establishing trade, it was the British and Dutch East India Companies that became known for ruling entire territories independently.
Around 1650, two French…
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Builder spent clients’ deposits on renovating his own house and race horses Stuff
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A man who refused to pay a measly $46 speeding fine has ended up racking thousands of dollars worth of debt.
In 2016, Peter Prescott received a speeding ticket ordering him to pay $46 (translated to USD) for driving 64km/h in a 50km/h zone. However, he failed to pay the ticket and insisted that he wasn’t driving the car and the car in question wasn’t his.
After Prescott didn’t pay up, the matter was taken to court and when he didn’t turn up to the hearing, Prescott was fined another $46 and was told to pay $17.50 in court fees.
Fast forward two years and Prescott, from New Zealand, still hadn’t paid the fines he was facing. He tried to appeal them but the appeal was unsuccessful, sparking him to seek a judicial review of that decision.
A…
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A court in Palma has taken over the investigation into two alleged rapes of women, several months apart, committed by a former British tycoon at a five-star hotel in Portals Nous, Calvia. The suspect apparently contacted the victims through a luxury sex services website and both women travelled to the island after arranging to meet the man. After being located by officers from the Calvia Guardia Civil and questioned at the barracks, he was released.
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Animal rights activist Tash Peterson and her partner Jack Higgs have kissed their passports goodbye as the couple declared bankruptcy.
The declaration comes after Bicton vet Kay McIntosh won bankruptcy orders against the pair in late April.
The orders followed a messy defamation trial between the activist couple and Dr McIntosh, her husband Andrew and Bicton Veterinary Clinic.
In a dramatic announcement on Instagram late Friday, Ms Peterson said: “We are officially bankrupt and our passports are being taken away from us.”
Mr Higgs said as a result of last year’s trial they “now owe over half a million dollars to a vet clinic”.
“So we’re going to head into a bankruptcy office and we’re gonna officially surrender our…
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1. Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
Until fairly recently, the Dutch jurisdiction was primarily creditor-friendly. The Dutch Bankruptcy Act (“DBA”) primarily aimed to satisfy creditors, rather than providing debtors with a reorganisation mechanism. However, the introduction of the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord, the “Dutch Scheme”) on 1 January…
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NCLAT rejects EPFO’s belated ₹34.31 crore claim in Nirmal Lifestyle insolvency case | Image Source: Wikipedia (Representative)
Mumbai: The National Company Law Appellate Tribunal (NCLAT) has rejected the appeal filed by the Regional Provident Fund Commissioner, Employees Provident Fund Organisation (EPFO), challenging the order passed by the NCLT-Mumbai. The NCLT had upheld the decision of the Resolution Professional (RP) rejecting EPFO’s claim of Rs 34,31,98,854.
In its order, the Appellate Tribunal held that when claims are filed belatedly during the insolvency resolution process, the RP’s decision to reject them through a reasoned reply cannot be faulted.
On August 4,…
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Savvy Senior: Strategies for paying off credit card debt Huron Daily Tribune
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DLH Holdings Q2 2025 slides: Revenue dips while debt reduction accelerates Investing.com Australia
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After losing my full-time job in 2023, my savings were nearly gone, and I found myself relying on credit cards to stay afloat. I needed stable income, not more financial setbacks.
Five months later, I finally got back to work, but the damage was done. I had defaulted on almost everything except my mortgage and utilities. My credit score had tanked, collections calls were constant, and I couldn’t see a way out. It felt like I was back in the late ’90s, struggling with the debt that came with the financial mistakes of my early 20s.
Back then, a debt relief program helped me reduce what I owed and set up payments I could actually manage. It worked once, so I figured it might work again.