Insolvency Guardian Media Centre

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A non-profit organization that supported small businesses across British Columbia has ceased operations due to financial challenges. Small Business B.C. (SBBC) was placed
The Central Bank of Montenegro (CBCG) has declared Montenegrin bank Atlas Banka bankrupt and has started insolvency proceedings. On April
Creditors face $1 million in losses after trailer manufacturer declares bankruptcy  SBS Read the original article here
Gen Z Is Severely Delinquent on Credit Card Debt  U.S News & World Report Money Read the original article here
Cabinet approves debt relief measures for vulnerable groups and SMEs, allowing NPLs under 5,000 Baht to be settled and credit
The Age has spoken to half a dozen creditors listed on the debtors' petition who were clients of the business.They
MILLIONS of energy customers will get access to 'no standing charge' tariffs under new plans revealed by Ofgem today.The energy
A state bankruptcy means the government fails to make debt and interest payments when due.  Failure to pay debts owed
LDRSNottingham City Council issued a section 114 notice, declaring effectively bankruptcy, on 29 NovemberThe government has appointed commissioners to help
Plantify Foods Begins Liquidation of Subsidiary Amidst Challenges  TipRanks Read the original article here
  Vancouver, British Columbia – TheNewswire – December 11, 2024 - Plantify Foods, Inc. (TSXV: PTFY) ("Plantify Foods" or the "Company") reports that

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A non-profit organization that supported small businesses across British Columbia has ceased operations due to financial challenges. 

Small Business B.C. (SBBC) was placed under bankruptcy on Dec. 5. MNP Ltd. has been appointed its trustee.

SBBC was established as a non-profit in 2002 and provided entrepreneurs at various skill levels guidance and resources to help build their businesses. For example, businesses could book consultations with advisors or get advice on importing and exporting products. 

SBBC had served over 880,000 clients, according to its 2022-2023 annual report.

But financial statements from previous years reveal the organization’s operating cost had grown substantially in recent years with the organization…

Read the original article here

The Central Bank of Montenegro (CBCG) has declared Montenegrin bank Atlas Banka bankrupt and has started insolvency proceedings.

On April 7, CBCG representatives said that the bankruptcy leaves 90 per cent of Atlas Banka employees out of work, adding that the total deposits in the bank amount to 189 million euros. Individual deposits of up to 50,000 euros – covered by Montenegro’s Deposit Protection Fund – total 89 million euros.

The CBCG placed Atlas Banka under its interim administration in December 2018 after revealing that its capital had not met the minimum risk requirements. Since then, the central bank had tried to find investors to recapitalise the bank, but had failed to do so.

Atlas Banka is the second…

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Creditors face $1 million in losses after trailer manufacturer declares bankruptcy  SBS

Read the original article here

Gen Z Is Severely Delinquent on Credit Card Debt  U.S News & World Report Money

Read the original article here

Cabinet approves debt relief measures for vulnerable groups and SMEs, allowing NPLs under 5,000 Baht to be settled and credit restored.

BANGKOK, Thailand – Prime Minister Paetongtarn Shinawatra revealed that the Cabinet has approved debt relief measures to support individual borrowers, small and medium enterprises (SMEs), and vulnerable groups, December 11. These measures aim to address non-performing loans (NPLs) of up to 5,000 Baht, allowing borrowers to clear their debts and improve their financial standing.

The initiative, proposed by the Ministry of Finance, includes debt restructuring to reduce principal and interest payments for borrowers meeting specific conditions. This will help protect assets…

Read the original article here

The Age has spoken to half a dozen creditors listed on the debtors’ petition who were clients of the business.

They claim they are owed money after they either used Marshall’s Holiday Rentals to book a holiday home and never received their deposit or bond back, or home owners who used Marshall’s to rent out their home and never got their payment.

The empty office on Ocean Beach Road in Sorrento.

The empty office on Ocean Beach Road in Sorrento. Credit: Eddie Jim

Ms Marshall ceased being the sole director of Marshall’s Holiday Rentals on the day she declared bankruptcy, meaning the company does not currently have a director.

It remains registered.

‘Unable to proceed with any future bookings’

On September 26, customers were sent an email from Ms Marshall with the subject line “IMPORTANT…

Read the original article here

MILLIONS of energy customers will get access to ‘no standing charge’ tariffs under new plans revealed by Ofgem today.

The energy regulator is also planning to launch new support for customers struggling with debt.

In addition, Ofgem has announced plans to require energy suppliers to offer zero standing charge tariffs

1

In addition, Ofgem has announced plans to require energy suppliers to offer zero standing charge tariffsCredit: Getty

As part of its plans, there could be a new scheme that means some customers could have their debts wiped or have repayments matched to help them clear their arrears.

The proposals are part of a huge shake-up to help tackle the “stubbornly high” debt levels that have built up despite falling energy prices.

Total energy debt is now at more than £3.8billion, a rise of more than £2billion in the last three…

Read the original article here

A state bankruptcy means the government fails to make debt and interest payments when due. 

Failure to pay debts owed to creditors may be accompanied by an official announcement by the government that it will not pay the outstanding debts, or it may sometimes occur without any official announcement.

Nearly half of the countries of the European continent, 40% of the countries of Africa, and 30% of the countries of Asia declared bankruptcy during the previous two centuries.

Ecuador has declared itself bankrupt most times among sovereign nations. 

It has declared bankruptcy 10 times. 

Brazil, Mexico, Uruguay,…

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LDRS City councilLDRS

Nottingham City Council issued a section 114 notice, declaring effectively bankruptcy, on 29 November

The government has appointed commissioners to help run Nottingham City Council after the authority declared itself effectively bankrupt.

Now ministers have intervened further in a bid to speed up improvements.

In a statement, local government minister Simon Hoare said: “The Secretary of State is satisfied that Nottingham City Council is continuing to fail to comply with its Best Value Duty, and that the necessary improvements are still not being made quickly enough.

“I am today confirming that commissioners have been appointed to Nottingham City Council and new directions have been issued.”

LDRS Loxley HouseLDRS

The council has said reduced government…

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Plantify Foods Begins Liquidation of Subsidiary Amidst Challenges  TipRanks

Read the original article here

 

Vancouver, British Columbia – TheNewswire – December 11, 2024 – Plantify Foods, Inc. (TSXV: PTFY) (“Plantify Foods” or the “Company“) reports that its wholly owned subsidiary, Peas of Bean Ltd. (“POB”), has filed a request (file number 28001/12/24) (the “Request”) with the district court of Nof Hagalil-Nazareth, Israel (the “Court”) to open proceedings in accordance with the Insolvency and Economic Rehabilitation Law (2018). The Request is for:

 

1. an order to initiate proceedings for the purpose of liquidation; and

2. an order for the appointment of a trustee for POB from the list of trustees of the commissioner at the discretion of the Court.

 

POB has facilities in Kibbutz Gonen,…

Read the original article here