Katie Price has staved off bankrupcy for another month – but could be made homeless at a court hearing in December.
The former glamour model – who was once worth an estimate…
Read the full article at: https://www.dailymail.co.uk/news/article-6333071/Katie-Price-staves-bankruptcy-month.html
In his speech on Monday Chancellor of the Exchequer Philip Hammond announced there would be targeted support for people repaying debts to help them take control of their finances.
But further analysis of the Budget papers revealed the Government wants to increase breathing space given for people in debt. This will provide a 60-day period of protection from creditor action to help them plan and repay in a manageable way.
It is also introducing a pilot project to provide zero interest loans, which will start early next year. And it has announced 55 million, to be taken from dormant bank accounts, to be deployed by a new independent body to help people access affordable credit.
Encouraging people to seek help
James Jones…
Read the full article at: https://www.themoneypages.com/debt/support-package-help-people-debt/
Romania had 16,499 insolvencies in 2008, while the estimate for the end of this year is about 8,300, or about half of the number recorded ten years ago.
According to CITR, at the same time, between 2016-2018, the number of companies entering insolvency annually remained constant, between 8,300-8,600. In the same period, the number of impact companies (with assets exceeding EUR 1 million) that went into insolvency stabilized between 175-200.
Of the insolvency impact companies, 20 percent went into the CITR portfolio on a yearly basis. As for the number of insolvency companies in the total number of companies, Romania has a percentage of 0.99 percent, in line with other European countries.
The Romanian insolvency market is a matur…
Read the full article at: http://business-review.eu/news/8300-to-8600-companies-enter-in-insolvency-annualy-175-200-of-them-being-impact-companies-189232
Personal insolvencies fell back from a six-year high in the third quarter of this year, official figures show.
Across England and Wales, 25,151 personal insolvencies were recorded between July and September – a 10.5% fall compared with the previous quarter when there were 28,108 personal insolvencies – the highest quarterly figure since 2012.
Richard Haymes, head of financial difficulties at TDX Group, said: Despite figures released by the Insolvency Service today… increased regulatory oversight of debt advice and personal insolvency is still required.
Continued economic uncertainty and stalling growth, driven largely by Brexit, unprecedented levels of unsecured debt, and the increasing reliance of low-income workers on earnings from t…
Read the full article at: https://www.mirror.co.uk/money/personal-insolvencies-fall-not-quite-13505324
Company insolvencies leapt 19.3 per cent in the third quarter compared to the same quarter last year.
Data from the Insolvency Service shows company insolvencies increased 8.9 per cent in the quarter to the end of September compared to the previous quarter.
A total of 4,308 companies entered insolvency in the third quarter, with 3,083 (71.6 per cent) of those creditors voluntary liquidations.
A creditors voluntary liquidations is instigated by an insolvent company, its assets are sold, the proceeds are distributed to creditors and the company is dissolved.
Duncan Swift, vice president of insolvency and restructuring trade body R3, said: This is the first time weve seen more than 4,000 corporate insolvencies in one quarter since the star…
Read the full article at: http://www.cityam.com/267651/uk-company-insolvencies-jumped-nearly-20-per-cent-last
Troubled commodity trader Noble Group, which almost blew up in an accounting and debt scandal before pushing through a dramatic financial restructuring in August, will report another loss in the third quarter.
The Singapore-listed commodity house, which was founded by British born trader Richard Elman, is expected to report an overall net loss of $90-$115m, the company said on Monday. It blamed financing and restructuring costs and losses from discontinued operations as it has done in previous quarters.
Noble Group once had ambitions to be an Asia-based version of Glencore, buying up mining and agriculture assets and growing to become a full-scale international commodity trader.
But over the past three years questions about its account…
Read the full article at: https://www.ft.com/content/4f657a00-db6f-11e8-8f50-cbae5495d92b
The insolvency law committee (ILC) that recently came out with recommendations on cross border insolvency essentially based on the UNCITRAL Model Law has proposed a presumption of default trigger to start insolvency proceedings in India. This, if the insolvency proceedings in the corporate debtors COMI (centre of main interest) has been recognised in India.
Under the IBC currently, creditors can initiate proceedings on a default of 1 lakhunlike some other jurisdictions which have to establish state of insolvency of debtor first.
Foreign main proceedings
Proceedings in the COMI is recognised as the foreign main proceeding (FMP). Recognition essentially implies automatic moratorium such as transferring of assets by the corporate debtor. I…
Read the full article at: https://www.thehindubusinessline.com/money-and-banking/cross-border-insolvency-panel-proposes-simple-trigger-for-starting-proceedings-in-india/article25368394.ece