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.
In this episode of PennyWise, host Nat Cardona welcomes NerdWallet’s Sarah Rathner to discuss the findings from the 2024 American Household Credit Card Debt Status Study.
As we transition into 2025, Nat and Sarah reflect on the financial landscape of 2024, a year that appeared promising on the surface but felt challenging for many consumers. They delve into the paradox of rising economic indicators contrasted with the personal financial struggles faced by individuals and families across the country.
Listeners will learn about the significant increase in household expenses compared to income, the alarming statistics surrounding credit card debt, and the impact of daily necessary purchases on financial stability. Sarah shares valuable…
Markham-based Krieger & Company Inc. has been appointed as trustee of the estate for the Aurora chocolatier renowned for its distinctive buttercrunch treat
One Chocolate Corporation, the owners of iconic Aurora chocolatier Fraktals, has declared bankruptcy.
A notice posted on the door of its retail location on Industrial Parkway South said that One Chocolate Corporation made an “assignment in bankruptcy on Jan. 27,” with Markham-based Krieger & Company Inc. being appointed as trustee of the estate.
“The trustee is working with stakeholders to determine next steps to maximize value for creditors,” according to Michael Krieger, licensed insolvency trustee with Krieger & Company Inc.
COLORADO SPRINGS — As holiday bills roll in, credit card debt is top of mind for many Americans. Unfortunately, so are the people looking to take advantage of your personal debt problems.
U.S. credit card debt reached a record high of $1.166 trillion in 2024, according to the Federal Reserve.
J. Michael Skiba, MBA, PhD, international financial crime expert and program manager at Colorado State University Global, also known as Dr. Fraud, says people looking to prey on your debt are a major concern this time of year.
“This is usually when people are getting their credit card bills in,” Dr. Fraud said. “The fun of the holidays is over, so they’re kind of a little bit stressed about their finances.”
Richard Balfour-Lynn, the property magnate and founder of Balfour Winery, has been declared bankrupt, according to The Times, following his failure to pay millions in compensation to shareholders impacted by the collapse of MWB Group, the former parent company of luxury retailer Liberty.
At the heart of the case is MWB Group, the holding company behind brands such as Hotel du Vin, Malmaison and Liberty. Balfour-Lynn served as chief executive until the business fell into administration in 2012.
Alongside joint finance director Jagtar Singh and several other parties, Balfour-Lynn was found to have obscured the extent of their shareholdings through “a series of sham transactions involving…
New Delhi, Jan 27 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Monday set aside a plea against HUL, filed by an operational creditor seeking initiation of insolvency proceedings against the FMCG major. The appellate tribunal has upheld an order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which on September 5, 2024 had set aside a plea filed under Section 9 of IBC by K Lakshmi Narayana, Proprietor of Lalithambica Enterprises, alleging default. The NCLT had found that the sum of the invoices, which was within the three-year limitation period, was less than the threshold limit of Rs 1 crore. Besides, the appellate tribunal noted that HUL’s submission relates to a…
