Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
BUSINESSES are struggling to repay Bounce Back Loans (BBLs) five years after the pandemic, a Bournemouth-based insolvency practitioner has said.These loans,
A man caught with more than €60,000 of illegal cigarettes and fake tracksuits has avoided jail after a court heard he was holding them for a criminal gang to whom he owed a large gambling debt.
Brendan Casey appeared at Donegal Circuit Court following a Garda raid at his home in Ballyshannon on May 8th, 2020.
Officers from the Garda Armed Support Unit forced in the back door of Casey’s home at Ernedale Heights home and found boxes of illegal clothing as well as illegal cigarettes and tobacco.
The 46-year-old was charged with a range of offences following the raid which uncovered the huge haul of counterfeit goods.
Among the charges were that he had in his possession a range of tracksuits including brands purporting to be Nike,…
Although section 442A of the Corporations Act 2001 (Cth) (‘the Act’) gives administrators the power to remove a director from office or appoint a replacement to a company, section 437A of the Act sets out the role of an administrator and specifies that while a company is in administration, the administrator has control of the company’s business, property and affairs.
In light of rising insolvencies, particularly in the construction industry, a previous decision in Scott v Hinchinbrook Services Ltd offers insight for insolvency professions into the requirements governing an administrator’s powers to remove and replace directors of a company.
The decision in Hinchinbrook raises several considerations for…
Your credit score is a number that illustrates your credit worthiness, and in the US it’s used for a variety of things including loans and acquiring new lines of credit. Depending on where you live, it can even affect your car insurance rate. While payment history is the biggest factor in your score, there’s another crucial aspect that you should be aware of – your credit utilization ratio.
Representing the percentage of your total available credit that is currently in use, credit utilization can affect anywhere from 10% to 30% of your credit score. And if your credit limit is relatively low, it shouldn’t cost you too much to bring down the ratio to build up your credit score.
ACI Worldwide Survey Shows Nearly 40% of Taxpayers Will Use Refunds for Debt Relief
A new income tax survey from ACI Worldwide , an original innovator in global payments technology, developed in partnership with YouGov, shows that nearly 40% of taxpayers would use their tax refund to pay debt (e.g., credit cards, loans, etc.), suggesting that the inflationary economy is eroding disposable income as Americans turn to tax refunds for debt relief. The survey also reveals that 44% of respondents chose to save their tax refunds, signaling a growing sense of financial caution and declining economic optimism.
This year’s survey also highlights an uptick in digital payment methods, with 65% of respondents preferring to pay digitally and…
While greedy, despicable billionaires continue to stuff their fat wallets, millions of people struggle to make ends meet every week,
The debt advice kiosk in Streatham Library is here to help, offering free expert advice via video for individuals with financial difficulties or money worries.
Each kiosk is designed as a soundproof booth, ensuring conversations remain private and confidential.
This is a walk-in service, so no appointment is required.
The case of SBP 2 S.À.R.L v 2 Southbank Tenant Limited [2025] EWHC 16 (Ch) highlights the importance of careful drafting and robust legal advice when looking to forfeit a lease.
Background
2 Southbank Tenant Limited is a WeWork company and the tenant in this claim. WeWork Companies LLC was a guarantor of the lease covenants. The guarantor company was essentially split following a restructuring under Delaware law, with the pre-split company referred to as the ‘dividing company’, and the two resulting corporate entities that emerged as the ‘surviving company’ and the ‘resulting company’. The ‘surviving company’ then filed a petition under chapter 11 of…
The chairman of Bally’s Corporation says that the US-based gaming operator was originally going to wait for Australia’s The Star Group to enter voluntary administration before investing in the company.
However, the company was worried the group would be too hard to rescue at that point.
Bally’s chairman Soo Kim told Reuters that the company had been looking at The Star for well over a year, but when it “saw the company start to sell their proverbial furniture, burn the furniture for firewood we decided to move”.
The executive furthered that “given there was a fire sale of assets, there might…
BUSINESSES are struggling to repay Bounce Back Loans (BBLs) five years after the pandemic, a Bournemouth-based insolvency practitioner has said.
These loans, introduced by the Government in May 2020, were crucial for many during the Covid 19 crisis.
However, for some, the repayment journey has been tough.
Elaine Wilkins, director at Antony Batty and Company Licensed Insolvency Practitioners, said: “The Bounce Back Loan scheme was a vital support during the pandemic, but five years on, we are seeing many local businesses struggling to meet repayment obligations.”
