Vanadium producer Bushveld Minerals (Bushveld) is being put into liquidation and will be delisted from the London Stock Exchange’s AIM market where its share price has crashed from around 30p five years ago to the current 0.3p.

This follows a decision by the Bushveld board of directors that Bushveld “has liabilities due that it cannot pay and does not have the means to continue to operate.”

As a result of the decision to put the company into liquidation Bushveld’s Nomad (nominated advisor) SP Angel Corporate Finance said it intends resigning its position.   AIM rules are that if a replacement Nomad is not appointed within one month Bushveld’s listing on AIM will be cancelled.

The Bushveld directors…

A company that once operated a popular South Dunedin tavern has been liquidated, leaving behind more than $100,000 of remaining debt.

Akuhata Ltd was put into liquidation in February last year, with Trevor and Emma Laing appointed liquidators.

The company was incorporated in November 2020 for the purpose of purchasing a tavern operation from a leased premises in Dunedin, The Kensington Tavern, the liquidator’s first report said.

The business was placed on the market in 2023 and an agreement for sale was entered into and settled on in January last year.

Payments to secured creditors were made from the sale funds, but the balance available was not sufficient to satisfy all other creditors in full, it said.

The liquidator’s final…

The Federal High Court has partnered the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to enhance the country’s business recovery and insolvency framework, aiming to improve the efficiency of insolvency procedures in Nigeria.

Insolvency law provides a legal framework for managing the financial affairs of individuals and companies facing such situations.

Chimezie Ihekweazu, SAN, President of (BRIPAN), stated this on Monday in Abuja during a courtesy visit to Justice John Tsoho, the Chief Judge of the Federal High Court.

Ihekweazu emphasised that the collaboration was focused on strengthening the administration of business recovery processes and improving…

The Massachusetts unemployment rate crept up to 4.3% in February, once again trending in the wrong direction. That seems hard to believe when the most recent National Federation of Independent Business Jobs Report shows 40% of small businesses have open positions they cannot fill. Of course, Massachusetts consumers notice longer lines at store checkouts with fewer cashiers and spending more time in restaurants waiting for their meal because there are not enough servers, all while “Help Wanted” signs hang on windows.

As challenging as the current labor crunch is, Massachusetts’ small businesses are still shouldering the burden of the Commonwealth’s $2.7 billion in pandemic-related Unemployment Insurance (UI) debt with little help…

The maximum LTV for debt consolidation has been returned to 90%, which the lender said would “open up more opportunity for homeowners looking to manage their finances through remortgaging”.

Mansfield Building Society said it would also accept gifted deposits for credit repair cases, which would help support more with homeownership even if they have credit blips.

Standard downsizing criteria across…

New business starts-ups and insolvency-related activity were both on the rise across the UK and in Yorkshire and the Humber last month, according to the latest findings from the UK’s insolvency and restructuring trade body, R3.

The research, based on an analysis of data provided by Creditsafe, shows a 27% increase in insolvency-related activity in the region in March, with new business start-ups increasing by 12% in the same month.

Insolvency-related activity, which includes liquidator and administrator appointments and creditors’ meetings, rose across every UK region, with Northern Ireland’s increase the largest at 100% and Wales’ the smallest at 6%, on February’s figures.

Business…

The Federal High Court has partnered the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to enhance the country’s business recovery and insolvency framework, aiming to improve the efficiency of insolvency procedures in Nigeria.

Insolvency law provides a legal framework for managing the financial affairs of individuals and companies facing such situations.

Chimezie Ihekweazu, SAN, President of (BRIPAN), stated this on Monday in Abuja during a courtesy visit to Justice John Tsoho, the Chief Judge of the Federal High Court.

Ihekweazu emphasised that the collaboration was focused on strengthening the administration of business recovery processes and improving…

Minister Al-Huwailah praises the success of Kuwait’s historic debt relief campaign, with total donations reaching KD 13.7 million.

KUWAIT CITY, April 15: Minister of Social Affairs, Family, and Childhood Affairs, Dr. Amthal Al-Huwailah, affirmed on Tuesday that the national campaign to help pay off the debts of individuals in financial distress represents a historic milestone and a pioneering humanitarian…

Latest figures from the Insolvency Service show the agency banned more than 1,000 directors in 2024-25, of which 736 were for Covid loan abuse.

The report shows that of the 1,036 directors who were disqualified, 736 were for Covid loan abuse and the average length of a ban was eight years. The report also shows that there have been 131 bankruptcy restriction orders put in place, 87 of which were related to the abuse of Covid loans.

Directors can be banned from being the director of a company for actions including failing to maintain adequate accounting records, not paying tax or VAT that is owed to HMRC, as well as securing a Covid Bounce Back loan they were not entitled to.

A director can be disqualified for up to 15…