THE NUMBER of registered construction insolvencies in England and Wales was 291 in December 2024.

The December figure is 8% lower than in November 2024 when 316 construction companies went bust.

Overall, construction firms accounted for 16.3% of all insolvencies in England and Wales in December 2024, according to the Insolvency Service.

By rough comparison, construction firms accounted for 14% of all registered businesses in the UK in 2024.

Total Construction Insolvencies

The total number of construction firms becoming insolvent in 2024 was 4,032. This was an 8.1% decrease on the 4,388 insolvencies recorded in 2023, and a 25.3% increase on the 3,218 in pre-pandemic 2019.

Of all…

Three weeks after the Reserve Bank of India (RBI) submitted a plea to initiate corporate insolvency resolution proceedings (CIRP) against Delhi NCR-based non-banking financial company (NBFC) AVIOM India Housing Finance, the National Company Law Tribunal (NCLT) has granted approval for the petition.

Earlier, the Reserve Bank had taken action by superseding AVIOM’s board due to governance concerns and defaults in fulfilling various payment obligations. Following this, the central bank appointed Ram Kumar, former Chief General Manager of Punjab National Bank, as the company’s Administrator. This measure was undertaken based on the recommendation of the National Housing Bank (NHB).

In a statement released in November 2024, AVIOM India Housing…

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that ‘Volatility is far from synonymous with risk.’ So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We can see that Corsair Gaming, Inc. (NASDAQ:CRSR) does use debt in its business. But the more important question is: how much risk is that debt creating?

What Risk Does Debt Bring?

Generally speaking, debt only becomes a real problem when a company can’t easily pay it off, either by raising capital or with its own cash flow. If things get really bad, the lenders can take control of the business. However, a…

On a chilly Wednesday evening in Atlantic City, New Jersey, four bettors sat in a restaurant booth inside a casino on the boardwalk, their table full of fried food and fountain drinks. March Madness was tipping off, but that’s not why they were there. Their plan was to bet on a fixed NBA game.

One of the men pulled out his phone, smiled wryly, and, with his partners eating in the background, snapped a selfie, commemorating the day as if it were a typical guys’ trip to Atlantic City.

The picture of the four men — Ammar Awawdeh, Long Li Pham, Timothy McCormack and the smiling Mahmud Mollah — is included in a criminal complaint…

• Amraiz Mahmood secured more than £20,000 in Covid support funds by falsely declaring he had a turnover of £81,000 as a self-employed delivery driver and courier  
• Mahmood spent the money on drugs and gambling and also used a separate non-Covid related loan for almost £40,000 worth of renovations to his home just before he filed for his own bankruptcy 
• Insolvency Service investigations have resulted in Mahmood being given a suspended prison sentence and 12-month curfew 

A delivery driver who spent Covid support funds he was not entitled to on drugs and gambling has been sentenced. 

Amraiz Mahmood fraudulently secured a £20,250 Bounce Back Loan from his bank in 2020 by overstating his 2019 turnover by more than…

DENVER — With a new president in the White House and a new court ruling, Coloradans paying back student loans with certain payment plans could see changes. Denver7 spoke with a student loan attorney to find out what the politics mean for those who currently have debt.

Attorney Karen Cody-Hopkins, who specializes in student loans and bankruptcy, said she has been swamped by the confusion in the student loan world. A recent ruling now blocks the “Saving on a Valuable Education” (SAVE) Plan, a repayment option introduced by the Biden administration.

Student loan attorney explains what new president means for payment plans

The Eighth Circuit Court of Appeals agreed with a lower court that…

Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.

• Amraiz Mahmood secured more than £20,000 in Covid support funds by falsely declaring he had a turnover of £81,000 as a self-employed delivery driver and courier
• Mahmood spent the money on drugs and gambling and also used a separate non-Covid related loan for almost £40,000 worth of renovations to his home just before he filed for his own bankruptcy
• Insolvency Service investigations have resulted in Mahmood being given a suspended prison sentence and 12-month curfew

A delivery driver who spent Covid support funds he was not entitled to on drugs and gambling has been sentenced.

Amraiz Mahmood fraudulently secured a £20,250 Bounce Back Loan from his bank in 2020 by overstating his 2019 turnover by more than £65,000.

The 31-year-old…

Adani Power news: Indian billionaire Gautam Adani has been expanding his business empire. In this regard, his Adani Power Limited (APL), a Rs 1.82 lakh crore market cap company, has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited, a subsidiary of Reliance Power, Anil Ambani’s Reliance Group firm. Vidarbha Industries Power is currently undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016. Vidarbha Industries Power owns and operates a 2×300 MW thermal power plant in the MIDC Industrial Area of Butibori in Nagpur.

Adani Power was selected as the…

The Bengaluru insolvency court selected Shailendra Ajmera to act as a resolution professional for Byju’s bankruptcy proceedings after changing the leadership of the case. Byju implemented this action directly after the National Company Law Tribunal (NCLT) expressed doubt about the resolution performance of Pankaj Shrivastava as a former resolution professional. The company finds itself at a decisive point during ongoing struggles over firm control. Byju’s former directors under the leadership of Riju Raveendran are actively working to free the company from its present state of insolvency.

The situation has worsened because Glas Trust LLC and Aditya Birla Finance…