Insolvency Guardian Media Centre
Federal Debt Management Office – Ministry of Finance – United Arab Emirates Ministry of Finance – United Arab Emirates
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Households are braced for a fresh round of bill hikes in April – and some may have to dip into savings or perhaps even go further into debt to cover expenses.
If you’re slipping further into the red, support is available, and Debt Awareness Week (March 24 to 30 2025) encourages those with money worries to open up and take steps to get help.
Richard Lane, chief client officer at StepChange Debt Charity, says: “Debt is a normal part of life for many people, whether it be a mortgage, car finance agreement or credit card.
“Borrowing on credit can be a useful to manage chunky expenses and spread the cost of a big purchase. However, debt can be a sensitive topic, and the stigma around it often…
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Americans Tackling Debt to Achieve Their Own Cinderella Story Business Wire
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Winsford rogue trader left ‘gaping hole’ in victim’s Cheshire home BBC
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While March’s official statistics and details of insolvencies won’t be confirmed by the government’s Insolvency Service (IS) until April 25, an agency that supplies data on companies in distress for those seeking to “capitalise on crisis” has warned that the month saw businesses collapsing at an alarming rate.
London-based agency Administration List, which sells speculators details of incoming casualties, also said its analysis of the first complete quarter of 2025 had been overshadowed by the implications of last week’s Spring Statement.
In total, it calculated that March saw:
● 159 administrations.
● 1,792 liquidations.
● 628 winding up petitions.
The company said: “The first quarter of the year has ended, and current insolvency…
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Forever 21 could be a step closer to shutting down operations in the US after the brand’s operating company filed for bankruptcy protection.
The firm said in a statement that its stores and website in the US will remain open as it “begins its process of winding down”.
Forever 21 was once a favourite of young women around the world, but it has struggled to attract customers to its shops because of rising prices and the growing popularity of online shopping.
The company filed for bankruptcy protection for the first time in 2019, but a group of investors ended up buying it through a joint venture.
“We have been unable to find a sustainable path forward, given competition from foreign fast-fashion companies… as well as rising costs, economic…
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Provisional judgments and illiquidity in Germany – key insights from a recent case Taylor Wessing
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In a landmark judgment, the Supreme Court of India has upheld the resolution plan submitted by Piramal Capital and Housing Finance Limited (formerly Dewan Housing Finance Corporation Limited, or DHFL) for the insolvency resolution of DHFL, setting aside the National Company Law Appellate Tribunal’s (NCLAT) order that had partially modified the plan. The apex court’s decision brings closure to one of India’s most high-profile insolvency cases, involving claims worth over Rs. 82,000 crore.
Background of the Case
DHFL, a prominent housing finance company, faced allegations of financial mismanagement and fraud, leading to its insolvency. The Reserve Bank of India (RBI) superseded its board in November 2019, and the…
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Dutch musical instrument retailer Bax Music has been declared bankrupt.
According to De Telegraaf, Bax Music was officially declared bankrupt today by The Netherlands’ Zeeland-West-Brabant court. The ruling reportedly comes after years of financial strain, with the company owing money to multiple investors and creditors, including the Dutch Tax Authority.
The company also suffered financially throughout the COVID-19 pandemic, as well as a fire in 2023 that damaged numerous pieces of expensive gear.
Reportedly, the company originally approached the court hoping to suspend repayments on its debt. This request was denied, and likely spurred on the official bankruptcy ruling.
Bax Music is one of Europe’s largest online music retailers, with…
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Hudson’s Bay in Richmond Centre shopping centre, on March 27.
Hudson’s Bay stores are proceeding with clearance sales, which are expected to last 10 to 12 weeks and to conclude by mid-June.Isabella Falsetti/The Globe and Mail
Senior lenders to Hudson’s Bay Co. have not yet acted on a previous claim that they would attempt to push the company into receivership, even after the court rejected a proposed agreement to give those lenders control over the retailer’s restructuring.
Those lenders – Bank of America N.A., Pathlight Capital LP and Restore Capital LLC – had told the court last week that “guardrails” were needed as the Bay looks for options to continue operating in some form, while also…
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GFG mill in Australia enters bankruptcy process Recycling Today
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The Supreme Court held that the Applications filed in respect of “Fraudulent and Wrongful trading” carried on by the Corporate Debtor (CD) cannot be termed as “Avoidance Applications” under the Insolvency and Bankruptcy Code, 2016 (IBC).
The Court held thus in a batch of Civil Appeals in which one of the Appeals was filed by the Piramal Capital and Housing Limited (formerly known as DHFL), challenging the common Judgment of the National Company Law Appellate Tribunal (NCLAT), New Delhi.
The two-Judge Bench comprising Justice Bela M. Trivedi and Justice Satish Chandra Sharma observed, “… the Applications filed in respect of “Fraudulent and Wrongful trading” carried on by the CD, could not be termed as “Avoidance…