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.
Provisional liquidators have been appointed to a Cork-based medical supplies company that alleges it is owed €1.2m by the HSE.
PMD Device Solutions Ltd petitioned the High Court for the appointment on Friday, acknowledging it is “clearly insolvent”, with more than €14.6m in liabilities set against €4.6m in assets. The company, with a registered office on Model Farm Road, Cork, made a loss of more than €900,000 over the last 13 months, the court heard.
Separately, PMD is subject of a court order restraining it from selling, transferring, or providing access to patient data to any third party outside of the HSE, after the health authority claimed the company demanded payment to “maintain the integrity” of sensitive patient…
ROMANIA The Grand Arena Mall in Bucharest has been declared insolvent after three construction companies (Arcon Constructions, Climatehnic and CZ & C) petitioned the courts for repayment of debts, according to local media.
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The owner of the shopping centre, Euroinvest Intermed, has appealed the ruling claiming the decision to be unfair and groundless. The centre originally opened in 2009.
The Civil Court in Dubai has rendered a judgment in a case concerning a Gulf national who is indebted to the amount of Dhs707,000.
The court has declared this individual to be insolvent for a period of three years, a decision which precludes him from entering into any binding commitments for that same period, with the exception of those relating to his fundamental needs.
Furthermore, the court has prohibited him from obtaining any new loans or financing.
The debtor submitted a request to the court to initiate insolvency proceedings, providing documentation that substantiated his inability to fulfill financial obligations due to personal status issues.
As part of this, we polled the public to find out the true extent of the energy crisis across Scottish communities. And the results were stark. More than two-fifth (42%) of people in Scotland are worried about energy costs. Almost two-thirds (62%) have cut back on household spending due to rising energy costs. And nearly three in five people (56%) say they have not been heating all of their rooms during what has been a very cold winter. There’s also been a 51% increase in worry around energy debt for those aged 45-54.
Overall, these numbers are slightly down compared to the previous year, but they still highlight the issue that people are trapped in a circle of energy-related debt. In addition to the stats, evidence from our…
The number of personal insolvencies linked to individuals running a business dropped further in December, according to the latest AFSA statistics.
The latest personal insolvency statistics indicated a total of 828 personal insolvencies for December last year, according toprovisional monthly statistics by the Australian Financial Security Authority.
This was a substantial drop from the 955 personal insolvencies in November and the 1,009 personal insolvencies in October last year.
The number of business-related personal insolvencies also eased from November, with only 249 people involved in a business entering a formal personal insolvency in December. This includes sole…
(TNND) — A third of Americans have more credit card debt than emergency savings, according to a new Bankrate survey.
Over half of those surveyed have more emergency savings than credit card debt. And 13% have neither.
But Bankrate Chief Financial Analyst Greg McBride said the share of Americans with more debt than savings is significantly higher than a decade earlier.
Inflation has cooled from its peak in 2022, which McBride said has allowed more households to start building their emergency savings.
More Americans said their savings increased, rather than decreased, from last year. McBride said that’s a positive sign.
But Americans are still under-saved for emergencies, McBride said.
“Emergency savings has long been the Achilles’ heel…
