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.
Three years ago, when Bob and Sandy Curtis moved into an upscale continuing care retirement community in Port Washington, New York, he thought they had found the best possible elder care solution.
In exchange for a steep entrance fee — about $840,000, funded by the sale of the Long Island house they had owned for nearly 50 years — they would have care for the rest of their lives at the Harborside. They selected a contract from several options that set stable monthly fees at about $6,000 for both of them and would refund half the entrance fee to their estate after their deaths.
Janet Morris with Jonathan Tweedle from CAP Debt Advice.
A LOCAL debt advice charity in Barnsley has launched a campaign offering residents free money coaching and debt help.
The scheme, Budget Not Blues, has been launched by Christians Against Poverty (CAP) who work out of Gateway Church in the town centre.
Almost 100 money coaches in Yorkshire have been trained by Christians Against Poverty to run free money coaching sessions in local communities throughout 2025.
CAP provides practical solutions and emotional support to those in need and their free services have transformed lives by helping individuals gain control over their finances.
Royal Helium (TSXV: RHC) (OTCQB: RHCCF) has announced the cancellation of its previously announced private placement offering of debenture units from December 2, 2024. On January 20, 2025, the company filed a notice of intention under the Bankruptcy and Insolvency Act (BIA) after failing to secure an out-of-court restructuring solution.
The company’s directors determined that filing for BIA protection was the best course of action for the company and its stakeholders after reviewing all financing options. Existing debentureholders of both 14% convertible debentures (due December 31, 2025) and 12% convertible debentures (due June 30, 2025) will retain their holdings under existing…
There has been a record jump in the number of UK businesses in critical financial distress, according to insolvency specialists.
Businesses in the most distress include those in hospitality, leisure and retail, but the construction industry is also facing challenges.
Insolvency experts Begbies Traynor said a company can be considered to be in critical financial distress if it has an outstanding county court judgment of more than £5,000 or faces a winding up petition.
“The last two years have been really quite stressful trying to run a business,” said Helen Gorman, who decided to close her café bar TwentySix in Cardiff this month due to rising costs.
“The industry as a whole is horrific and some of these challenges I don’t think any…
It’s hard to keep your head above water when dealing with high-rate debt, so pursuing debt relief now is a wise move.
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Debt is a reality that many Americans face and recent data paints a sobering picture. As of late 2024, consumer debt had reached an all-time high, with credit card balances accounting for $1.17 trillion. And, nearly half of all credit card users are carrying balances from month to month, incurring steep interest rates that compound the financial strain. Meanwhile, inflation has shown signs of resurgence, driving up costs for essentials like groceries and utilities. These trends create a…
The number of people going financially insolvent in England and Wales last year was 14% higher than in 2023, driven by debt relief orders (DROs) jumping to a record high, according to the Insolvency Service.
Some 117,947 personal insolvencies were registered in 2024, 14% higher than the 103,434 recorded in 2023.
Within the total, there were 43,249 DROs – the highest annual number on record and 36% higher than in 2023.
This followed the removal of a £90 administration fee to obtain a DRO from April 2024 and the expansion of eligibility criteria in June last year, with the debt threshold being increased from £30,000 to £50,000.
In 2024, 57% of individual insolvencies were individual voluntary arrangements (IVAs), 37% were DROs,…
Angell, a French smart electric bike startup, has announced in an email to customers that the company is declaring insolvency and approaching a court to ask for judicial liquidation.
“It’s over for Angell,” said company co-founder and CEO Marc Simoncini on Instagram. (He also happens to be a judge on the French version of “Shark Tank.”) “A hardware problem has put an end to the adventure, despite all our efforts and the incredible work of all our employees.”
Originally founded in 2019, Angell set out to create an electric bike with several smart and connected features. Its original bike packed a small color touch screen in the middle of the handlebar to display relevant information and give turn-by-turn directions. It could…
