Insolvency Guardian Media Centre
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.
Investors who tipped in $11.4 million earmarked for residential property projects are being left largely empty-handed after property developer Greg Shaw was declared bankrupt on Thursday.
More than 130 investors tipped $14.1 million into projects across NSW, Queensland and Victoria after a marketing blitz run by self-styled property mogul Sasha Hopkins on Facebook in 2021.
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Emerging Energy Solutions plunges in liquidation owing $86 million
At least a dozen South Australian solar installers have lost tens of thousands of dollars in an alleged rebate rort, 7NEWS can reveal. The company at the centre of the scandal, Emerging Energy Solutions, has gone into liquidation owing creditors across the country more than $86 million. Clayton Solar and Electrical in Adelaide is among those counting the cost.
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VATICAN CITY (CNS) — In the Hebrew Scriptures, God commanded his people to observe a jubilee as a time to restore their relationships with God, with other people and with the land.
Especially since St. John Paul II proclaimed the Holy Year 2000, part of the Catholic Church’s jubilee efforts to repair those relationships has included working for the forgiveness or just restructuring of the foreign debt of the world’s poorest countries.
Proclaiming the Jubilee 2025, Pope Francis appealed to the world’s wealthiest nations to “acknowledge the gravity of so many of their past decisions and determine to forgive the debts of countries that will never be able to repay them.”
“If we really wish to prepare a path to peace in…
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BTZ declared bankrupt Bulk Materials International
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Regional airline carrier Rex has officially entered voluntary administration
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African Development Bank Group Annual Meetings 2024: the need for responsible, innovative solutions for African debt management African Development Bank
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Vice, Decayed Digital Colossus, Files for Bankruptcy (Published 2023) The New York Times
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Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon:
“Today’s insolvency figures illustrates how the challenging trading conditions facing UK companies is translating into distress. Company insolvencies in Q2 and Q3 2023 reached their highest level since Q2 2009, whilst administrations saw a 58% year-on-year uplift.
“Since the pandemic, insolvency activity had been heavily focused among smaller companies, but we are now seeing increased activity in the mid-market as macro-economic and financing stresses build.
“These mid-market companies – whose balance sheets had previously been cushioned by extended maturities and COVID-19 support measures – are now facing several…
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There are millions of people in the UK who are struggling with debt. You are not alone. There is no need to feel embarrassed or think there is nowhere to turn.
The important thing is that you do something to improve the situation you are in.
The information in this section will help you manage your budget and find options to improve your situation.
You can also ask us for debt advice by filling in our online form.
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Getty ImagesKatie Price must give up almost half of her monthly income from adult entertainment website OnlyFans to repay her debts, a judge has ruled.
The High Court court heard that the former model had previously reached a voluntary agreement over her debts, but had failed to pay the agreed amounts.
Four companies, including OnlyFans, have now been ordered to put 40% of her earnings towards her repayments.
The 45-year-old was declared bankrupt in November 2019.
Her OnlyFans page describes her as the “queen of glamour”, with users charged $14.99 (£12) a month to access “all my exclusive content”.
At a hearing on Thursday, barrister Darragh Connell, representing trustees, told a specialist…
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The liquidator of failed ad agency McCorkell & Associates is seeking permission from creditors to be paid for his work so he can continue his investigation into the shifting of assets.
Michael Hogan of Hogan Sprowles is pursuing Scott McCorkell, the founder of the North Sydney agency, in what he has told the Federal Court appears to have the hallmarks of a “phoenix” transaction.
Phoenixing is where assets are moved to a new company leaving behind debts and liabilities in the old business.
The agency went into liquidation the week before Christmas 2022, putting 18 out of work without pay, redundancy or superannuation payments, and leaving a long list of trade creditors.
The Federal Court has issued a…
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If you’re struggling to pay off debt, you may be able to lower your monthly payments by enlisting the help of a debt relief company.
Unlike debt consolidation, which merges multiple balances into one loan (ideally with a lower interest rate), companies that provide debt relief negotiate with your creditors to lower your balance and help you get out of the red faster.
Debt relief, also known as debt settlement, isn’t guaranteed. And it comes with risks, including a lower credit score, substantial fees and even lawsuits.
CNBC Select analyzed numerous debt relief companies and chose the top ones based on fees, availability, company history and customer satisfaction. (Read more about our methodology below.)