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.
A new U.S. regulation limiting student debt relief for public service workers by targeting organizations with dissenting missions raises legal and ethical concerns.
WASHINGTON D.C., DC — A new U.S. Department of Education regulation to narrow eligibility for a key student debt relief program for public service workers has drawn strong opposition from advocates who argue the regulation is an attempt to target organizations whose missions do not align with President Donald Trump’s agenda.
Under a final rule slated to take effect in July, employers that participate in “unlawful activities such that they have a substantial illegal purpose” would…
A track record of operating in Christchurch for nearly 90 years has ended for Idiens Sheetmetal & Roofing after it was forced to shut its doors owing creditors $1.13 million.
The cladding, roofing and flashing business was put into liquidation in the High Court of Christchurch after an application by Inland Revenue (IRD) on October 16.
The total shortfall owed to creditors includes nearly $647,000 to IRD and 25 unsecured creditors who are owed nearly $480,000.
Idiens’ eight employees were paid in full, including a four-week notice period, after they were let go.
PricewaterhouseCoopers insolvency practitioners Wendy Somerville and Malcolm Hollis said in their first creditors and shareholders report that they were advised the…
The owners of Christchurch company Idiens Sheetmetal & Roofing are disputing the total amount owed to creditors after going into liquidation and ending a nearly 90 year business link.
The cladding, roofing and flashing business was put into liquidation in the High Court at Christchurch after an application by Inland Revenue (IRD) on October 16.
A first report to creditors and shareholders estimated an initial total shortfall of $1.13 million owed to all creditors included nearly $647,000 to IRD and 25 unsecured creditors nearly $480,000.
But this is being disputed by family members, who said the shortfall was taken from preliminary, unverified records and no longer reflected the true picture as several creditors had since…
Heads of state from the world’s most powerful countries gathered in Johannesburg, South Africa, over the weekend for a summit that had been billed, under South Africa’s G20 presidency, as a turning point for addressing debt distress across the Global South.
South African President Cyril Ramaphosa had consistently framed the issue as central to his agenda, arguing that spiralling repayment costs have left governments, particularly in Africa, with little room to fund essential services like healthcare and education.
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But despite repeated pledges – including in the leaders’ summit declaration to “strengthen the implementation of the G20 Common Framework” – South Africa did not…
The move follows unsuccessful efforts to find a buyer for the struggling business (REUTERS/Arnd Wiegmann)
Around 650 jobs are at risk after Unimetals Recycling, one of the UK’s largest metals recycling firms, filed for compulsory liquidation.
The move follows unsuccessful efforts to find a buyer for the struggling business.
Headquartered in Stratford-upon-Avon and operating across 28 sites nationwide, Unimetals Recycling is expected to begin winding down operations imminently, with formal liquidation proceedings anticipated to commence as early as Tuesday.
Advisers from Alvarez & Marsal had been managing discussions with potential purchasers after the firm issued several notices of intention to appoint…
The G20 Summit was held in Johannesburg at the weekend (Department of International Relations and Cooperation)
Caritas Africa joined faith leaders in calling for debt relief for African countries during the G20 summit in South Africa. Source: The Tablet.
The signatories to the statement issued after the conclusion of the two-day summit in Johannesburg on Sunday said that African countries are using money that should go towards education and health to service ever-growing debt to international lenders.
It followed pleas by faith leaders and other international pressure groups for relief for highly indebted countries, which are using scarce resources to service what they call a vicious cycle of…
BELEM, BRAZIL — On November 20, during COP30, the Society of Jesus delivered a powerful statement to Ambassador André Corrêa do Lago, President of the conference, raising three urgent demands on climate finance. The move, carried out by Anderson Pedro, S.J., Rector of PUC-Rio, marks a renewed push from the Jesuits for structural change in the global response to climate change.
The Society of Jesus’ Social Justice and Ecology Secretariat (SJES) pose for a group photo at COP30 in Belém, Brazil. Photo courtesty of SJES.
The letter outlined the Society’s stance with three key calls: first, for a mechanism under the Just Transition Work Programme to provide predictable, grant-based funding to…
The company, which operates 27 sites across the UK, is expected to begin winding down as soon as Tuesday
18:18, 24 Nov 2025Updated 19:07, 24 Nov 2025
Unimetals said no deal could be reached on the future of the business despite ‘substantial interest’ (stock image)(Image: AFP via Getty Images)
Metals recycling firm Unimetals, which has a site in Manchester, has filed for compulsory liquidation, putting around 650 jobs at risk across its nationwide operations.
The company, which operates 27 sites across the UK, is expected to begin winding down as soon as Tuesday after efforts to find a buyer failed. Advisers from Alvarez & Marsal managed discussions with potential buyers, but were unable to secure a sale.
