Insolvency Guardian Media Centre
Dozens of Scots are expected to become bankrupt every day this year as rising household bills and sluggish wage growth continue to impact personal finances.
Last year, about 12,000 people are thought to have been sequestered, the Scottish term for bankruptcy, or had to take out a protected trust deed, a form of personal insolvency that gives legal protections to pay creditors. This is equivalent to more than 30 people each day, or about 230 per week in the worst year for personal financial troubles since 2013.
Campbell Dallas, the accountancy company, said the figure was likely to be similar this year. It warned that with intere…
Read the full article at: https://www.thetimes.co.uk/article/thousands-of-scots-expected-to-file-for-bankruptcy-in-2019-vms377chv
Insolvency or financial distress forced sixteen companies off Londons junior market last year, up from nine in 2017.
Conviviality, the owner of Bargain Booze, and Crawshaw Group, a chain of butchers, were among the high-profile casualties whose listings were cancelled on Aim after collapsing into administration last year.
The travails of Wolf Minerals, a Dartmoor-focused mining company; Flowgroup, an energy supplier; and Mysquar, a Burma-focused app maker, also contributed to the increase highlighted in analysis by UHY Hacker Young, the accountancy firm.
Despite the year-on-year increase, the number of businesses delisting after insolvency or financial distress was still lower than the average in recent years, with 24 failures recorded i…
Read the full article at: https://www.thetimes.co.uk/article/big-rise-in-companies-forced-off-aim-market-c9djlf69f
NEW YORK, Dec. 31, 2018 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. reminds investors that it is investigating potential claims on behalf of stockholders of Yangtze River Port and Logistics Limited ( YRIV), Net 1 UEPS Technologies, Inc. (NSADAQ: UEPS), and Belden Inc. (: BDC). Additional information about each potential action can be found at the link provided.
Yangtze River Port and Logistics Limited ( YRIV)
On December 6, 2018, Hindenburg Research published a report entitled Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report described Yangtze as a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets. Amo…
Read the full article at: https://www.gurufocus.com/news/792885/bragar-eagel–squire-pc-reminds-investors-that-it-is-investigating-yangtze-river-net-1-ueps-and-belden-on-behalf-of-stockholders-and-encourages-investors-to-contact-the-firm
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…Read the full article at: https://www.chron.com/news/article/Sears-Kmart-could-be-liquidated-with-no-bid-to-13494172.php
Retirement plan sponsors are increasingly demanding value-add services from their advisers. Our Beyond(k) column in PLANADVISER print this year explored a few of the most popular new products and services sponsors are requesting.
HSAs in Retirement Planning
Health savings accounts (HSAs) have become more prevalent as more employers have turned to high-deductible health plans. High health care costs in retirement and the tax benefits and flexibility of HSAs are some of the other key reasons advisers should include them in their practices. Read more.
Giving Them a Break
Low unemployment, increasing student loan debt and interest in financial wellness are prompting some employers to consider offering stu…
Read the full article at: https://www.planadviser.com/2018-beyondk-hsas-pension-risk-transfer-student-loan-debt-relief/
Last month, 13 economists, including IMF chief economist Gita Gopinath and former RBI governor Raghuram Rajan, praised Indias bankruptcy law while charting an economic strategy for the country heading for general elections later this year. Their policy advice for the financial sector covered reviving projects when bank balance sheets are cleaned up, improving governance in state-owned banks, and strengthening the corporate bond market.
The two-year-old Insolvency and Bankruptcy Code (IBC) is panning out okay. But it needs to work better to realise maximum value from the sale of assets of bankrupt companies. This will reduce both haircuts that banks have to take and the load on taxpayers to recapitalise banks.
The Committee of Creditors (…
Read the full article at: https://economictimes.indiatimes.com/blogs/Exchequer/insolvency-bankruptcy-code-less-delay-more-reform/
Organic food retailer About Life has fallen into voluntary administration after a series of legal disputes with suppliers over the last 18 months.
The independent grocer is understood to have closed all of its eight stores recently and on Wednesday morning had shut down various social media accounts and sections of its website.
It is now under the control of administrators from Farnsworth Shepard, who were not available for comment onWednesday morning.
About Life is backed by Melbourne-based investment firm Green Capital Partners, the same company that backed food retailer THR1VE before it fell into administration and was bought by SumoSalad earlier this month.
It is just the latest in a long line of retail businesses to go under in 2…
Read the full article at: https://www.smartcompany.com.au/industries/retail/about-life-collapses/
NEW YORK, Dec. 31, 2018 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. reminds investors that it is investigating potential claims on behalf of stockholders of Yangtze River Port and Logistics Limited (NASDAQ: YRIV), Net 1 UEPS Technologies, Inc. (NSADAQ: UEPS), and Belden Inc. (NYSE: BDC). Additional information about each potential action can be found at the link provided.
Yangtze River Port and Logistics Limited (NASDAQ: YRIV)
On December 6, 2018, Hindenburg Research published a report entitled Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report described Yangtze as a scheme run by its Chairman & controlling shareholder to siphon money away from U….
Henderson Constable Earl Mitchell was under extreme financial pressure.
It was 2015, and Clark County officials had taken control of Mitchells office revenues. The elected lawman had a six-figure IRS debt and liked gambling, upscale restaurants and bars.
His solution, according to prosecutors, was to overstate the costs of his deputies salaries, expenses and income tax withholding amounts so he could keep the money for himself.
Three months after the county increased oversight of the constables account, Steven Kilgore, Mitchells chief deputy and friend of 30 years, warned him that ignoring the countys financial controls would put him in the crosshairs. But Mitchells annual salary of $103,000 and a nearly $60,000 pension apparently we…
Read the full article at: https://www.reviewjournal.com/investigations/records-shed-light-on-henderson-constables-gambling-lifestyle-1562438/
Its Christmas time, and the period immediately after, that is a cause of concern for many when it comes to spending and paying back amounts owed.
According to a recent study produced by Moneysupermarket.com, anxiety over debts remains high in the UK, with over half of us believing it will take three years or more to pay our debts.
Another 12%, the study said, dont believe they ever will.
But why did they conduct this study?Well, its in response to a growing issue in the UK household debts rose to their worst rates to date in 2018.
Evidence points to reckless festive spending
More Britons are entering each New Year in debt. National Debtline, in late 2017, claimed 16% equivalent to around 7.9 million people were likely to fall be…
Read the full article at: https://realbusiness.co.uk/consumer-debts-smes-must-help/
On Dec 31, we issued an updated research report on United Technologies Corporation (UTX – Free Report) . This Zacks Rank #3 (Hold) stock is poised to grow on the back of ongoing portfolio restructuring moves and stronger end-market sales. However, rising costs are a major concern.
Lets delve into the aspects that are influencing the stocks performance.
Favorable Factors
United Technologies expects that ramp up in military programs, increased global air traffic and high passenger load factor will boost upcoming quarterly results of the Aerospace business. Meanwhile, increased construction activity in the United States, higher infrastructure spending in China and greater urbanization rate in Asia is expected to enhance …
Read the full article at: https://www.zacks.com/stock/news/345150/united-technologies-gains-on-restructuring-moves-costs-high
Tis the season to contemplate New Years resolutions. With 44.5 million student loan borrowers in the U.S. owing a total of $1.5 trillion, student loans are certain to be a factor in most financial wellness resolutions.
Not only are more people in debt, but people are deeper in debt because of higher education. Average debt at graduation is currently around $35,000 up from $10,000 in the early 1990s. The effects on the individual are clear. Beyond straining budgets, student loan debt is preventing individuals from saving and building net worth. Research by the Federal Reserve found a strong correlation between the decline in American home ownership and increasing student loan debt. Studies by the National Associ…
Read the full article at: https://www.baltimoresun.com/news/opinion/oped/bs-ed-op-0101-debt-resolutions-20181220-story.html
