Metals recycling firm Unimetals has filed for compulsory liquidation, putting around 650 jobs at risk. The company, which operates 27 sites nationwide, is expected to begin winding down as soon as Tuesday after efforts to find a buyer for the business failed.

It follows several notices of intention to appoint administrators in recent weeks, with advisers from Alvarez & Marsal managing discussions with possible buyers, but they were unable to secure a sale. A spokesperson for Unimetals said: “We have worked tirelessly to explore every possible option to secure new financing for Unimetals Recycling (UK) Ltd, with the aim of meeting our financial obligations and safeguarding the future of the business. 

“This included an accelerated M&A…

This budget will take place under the shadow of the cost-of-living crisis, which has seen a huge rise in the number of people facing unpayable debts. Unemployment is spiking, and personal insolvencies and bankruptcies are on the rise. People are simply not earning enough to cover the essentials – and being forced into debt because of it.  

This debt crisis demands immediate action, and November’s budget is an opportunity to address it. Here’s how the chancellor could use this opportunity to take meaningful action to help end a crisis affecting over 10 million people. 

A crisis in council tax debt 

One of the fastest growing types of debt in the UK is council tax debt. Our analysis found that outstanding council…

TipRanks Black Friday Sale

Skyfame Realty (Holdings) Ltd ( (HK:0059) ) has provided an announcement.

Skyfame Realty (Holdings) Limited, a company incorporated in Bermuda, has been ordered to be wound up by the Commercial Court of the Supreme Court of Bermuda. The company is currently in liquidation, with Joint and Several Provisional Liquidators appointed to oversee the process. Trading of the company’s shares on the Stock Exchange has been suspended since April 1, 2025, and will remain so until further notice. Stakeholders are advised to exercise caution and seek professional advice when dealing with the company’s securities.

More about Skyfame Realty (Holdings) Ltd

Technical Sentiment Signal: Sell

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Employment protection in an insolvency context

The sale of a struggling business will often trigger TUPE. The usual tests will apply, looking at whether there is a transfer of an “economic entity” i.e. a grouping of resources which has the objective of pursuing an economic activity. 

If TUPE applies, employees will usually automatically transfer to the buyer. The buyer “steps into the shoes” of the seller, and the contracts of employment, as well as any liabilities or claims, will transfer to the buyer. However, TUPE is modified in an insolvency scenario – and the way it is modified depends on whether the business is in administration or liquidation. Administration aims to achieve survival of the business in some form;…

It’s Sunday at Forest Hill Church, Presbyterian in Cleveland Heights, and service is just beginning.

Natasha Lovelace sits in the midst of the congregation at the end of a pew. She sings along to hymns, recites prayers, and she even brought cookies to share after service.

It’s a small show of gratitude for all she owes the church, Lovelace said.

“I’m just blessed that I was chosen to be a part of it,” Lovelace said, referring to an award from the church’s Racial Repair and Restoration Taskforce to pay off $65,000 of her student loans.

“I ignored my loans; that’s not okay,” she said. “That’s not a healthy way to address your finances, but unfortunately, I think it becomes like a fear. “

Student…

The National Company Law Appellate Tribunal (NCLAT) , principal bench, New Delhi has dismissed an appeal challenging the rejection of a Section 9 application filed under the Insolvency and Bankruptcy Code (IBC), holding that the statutory requirement of serving a Section 8 demand notice on the corporate debtor was not fulfilled.

The appellant had filed the Section 9 application seeking initiation of corporate insolvency resolution proceedings (CIRP), relying initially on postal service of the Section 8 notice, which was returned undelivered.

During the proceedings before the Adjudicating Authority , the appellant filed an affidavit claiming that the notice had also been served via email. However, the NCLT observed that…

Poorer nations attending the Group of 20 summit in South Africa have used the meeting to push leaders on climate action and high levels of debt, issues directly affecting the developing world.

They have also sought to position themselves as economic partners with much to offer in sectors including mining, technology and artificial intelligence, among others.

Many lauded South Africa, which hands over the rotating G20 presidency to the US, for promoting an inclusive agenda prioritising the needs of poorer nations by focusing on global inequality. The United States boycotted the Johannesburg meeting meant to bring rich and…