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BAKU, Azerbaijan, December 7. Azerbaijan's Micro Leasing and Factoring Limited Liability Company (LLC) has announced its liquidation, Trend reports via
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How much do Canadians spend during the holidays?
According to online publication Made in CA, the average person spends $1,593 on holiday expenses. This includes gifts, experiences,…
“We would be happy if less work goes before the NCLT (National Company Law Tribunal),” Mital said, conceding that the adjudicating authority is now over-burdened. He also rooted for a formal group insolvency framework.
Mital was speaking at an international conclave, organised by IBBI and INSOL India.
BAKU, Azerbaijan, December 7. Azerbaijan’s
Micro Leasing and Factoring Limited Liability Company (LLC) has
announced its liquidation, Trend reports via the “Taxes” online newspaper of the
State Tax Service under the Ministry of Economy.
The creditors were required to contact the following address
within two months: AZ1122, Baku city, Yasamal district, Hasanbek
Zardabi Ave., building 103.
To note, the company was registered in Azerbaijan in 2022.
Stay up-to-date with more news on Trend News
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A total of 3,347 eateries have been unable to pay their debts in the past two years to March 2023, according to data from the Insolvency Service and first reported by Sky News.
During the first three months of 2023, an average of six restaurants were affected every day.
Of those restaurant declared insolvent, 98% of cases have ended with the business being shut down.
Research by UKHospitality shows that the number of restaurants in Britain has declined by 3,415 since March 2020 – a fall of 18%.
“We’re really facing a perfect storm,” says UKHospitality CEO Kate Nicholls. “These businesses faced a challenge going through COVID, and as a result of that they’ve got very high levels of debt. So, interest rate rises have impacted on…
Since the pandemic, during which insolvency rates were low due to government measures, there has been a considerable rise in insolvencies in the UK and many other jurisdictions. High interest rates have significantly increased the cost of borrowing and many companies are saddled with mountains of debt that was taken out in better times and which are now difficult to repay. In addition, high inflation and energy costs, lower consumer confidence and volatile supply chains have all contributed to making the last few years very difficult for businesses.
An increase in company insolvencies throughout 2023
Insolvency specialists estimate that more than 47,000 businesses are near collapse in the UK at the start of 2024 and,…
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