Bazian said Canadians’ net personal debt rating (positive minus negative) rebounded 14 points from last quarter’s all-time low.  

The proportion of Canadians just $200 or less from insolvency dropped to 43 percent (-7 points), while those already insolvent declined to 26 percent (-9 points). 

Still, “four in ten Canadians report being on the brink of insolvency, and more than a quarter have no financial cushion, no flexibility, or wiggle room in their budgets. Individuals without a safety net will likely face economic hardship when faced with rising costs and housing expenses, or a potential loss of income,” Bazian said. 

Half (50 percent) of Canadians say they now rely more on financial…

Roxy Media, the media production and management firm once run by the TV presenter and her husband, Dan Baldwin, was issued with a winding-up order earlier this year, according to court filings.

The order means that His Majesty’s Revenue & Customs (HMRC) could seek to shut down the business over unpaid taxes.

An HMRC spokeswoman previously said: “We take a supportive approach to dealing with customers who have tax debts and only file winding-up petitions once we’ve exhausted all other options, in order to protect taxpayers’ money.”

Ms Willoughby did not attend the short hearing on Wednesday, where Chief Insolvency and Companies Court Judge Briggs approved a 12-week adjournment.

Roxy Media must pay by then the £377,000,…

VanEck’s head of research has pitched a new type of US Treasury bond partially backed by Bitcoin to help refinance $14 trillion in US debt.

Matthew Sigel pitched the concept of “BitBonds” — US Treasury bonds with exposure to Bitcoin (BTC) — at the Strategic Bitcoin Reserve Summit 2025 on April 15.

The new 10-year bonds would be composed of 90% US traditional debt and 10% BTC exposure, Sigel said, appealing to both the US Treasury and global investors.

Even in a scenario where Bitcoin “goes to zero,” BitBonds would allow the US to save money to refinance the estimated $14 trillion of debt that will mature in the next three years and will need to be refinanced, he said.

Bitcoin to boost investor demand for T-bonds

“Interest…

Mansfield Building Society has made a series of positive criteria changes to support borrowers and widen access to its range of mortgage products.

The Society has returned its maximum loan-to-value (LTV) for debt consolidation to 90% with the criteria designed to open up more opportunity for homeowners looking to manage their finances through remortgaging.

Gifted deposits are also now accepted on credit repair cases, helping more families support loved ones with their homeownership plans, even where there have been historic credit blips.

Additional updates include standardising downsizing criteria across the UK, with a minimum equity requirement of £200,000 regardless of location, and removing the maximum age limit on Buy to…

VanEck’s head of digital assets research, Matthew Sigel, has proposed solving the US debt problem by issuing Bitcoin Bonds (BitBonds). In a post on X, he explained that the US government could use this product to refinance $14 trillion in debt.

According to Sigel, BitBonds is a 10-year hybrid debt instrument with 90% exposure to US Treasury bonds and 10% Bitcoin. He proposed selling the bonds for $100, with proceeds from bond sales used to fund the 10% BTC exposure.

Under the proposal, investors will get all the BTC gains until the annualized yield-to-maturity hits 4.5% on the bond’s purchase value. After that, the government and investors will split the BTC gains equally. Upon maturity,…

Corporate liquidations soared by 55% in the first quarter of 2025, while the number of company bankruptcies in Luxembourg remained unchanged, according to data released on Wednesday by the Ministry of Justice and Statec.

A total of 301 businesses were declared bankrupt between January and March, compared to 300 during the same period in 2024.

In contrast, 51 companies were liquidated in the first quarter of 2025, a 55% increase from the year before. However, the comparison is skewed by an unusually low number of liquidations in early 2024, Statec said.

Nearly half of the liquidated firms were holding companies or investment funds.

Some sectors struggle, some remain resilient

Although the number of bankruptcies remained stable, the overall…

Aberdeen-based Belmar Engineering let go of 48 workers on Tuesday as it entered liquidation.

Insolvency expert Michael Reid, who is also Aberdeen-based and works for MHA, has been appointed liquidator.

A letter has been sent to all known creditors. There were around 80 in total, made up of trade suppliers, utility providers, finance companies and HMRC.

Reid said: “Prior to liquidation, the board tried to sell the business, in whole or in part, but were unsuccessful.

“They sought to review operating processes and pricing structures, however, without a base level of work, the factory was not viable.”

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The liquidator added that the…