Insolvency Guardian Media Centre
Two of the UKs biggest organisations offering advice to consumers on how to manage their debts have warned they do not have the resources to cope with the growing wave of people in trouble.
UK consumer debt levels have now surpassed those seen before the financial crisis, and official figures suggest that over 2m people a year will need debt advice by 2022 double the current capacity prompting concerns of a funding gap.
PayPlan and StepChange, who provided free debt advice to nearly three-quarters of a million people last year between them, have said that growing numbers of debt-collection groups are refusing to pay the voluntary contributions that fund their services.
Unless we can fix the funding model, we are going to have probl…
Read the full article at: https://www.ft.com/content/c5878fe4-a630-11e8-8ecf-a7ae1beff35b
Victorian Police find some of Hennessey Transports prime movers and trailers as questions emerge about pre-liquidation sale of business
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A truck bearing Hennessy Transport livery
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Victorian Police have located some of the vehicles missing from Hennessy Transport after their registrations were allegedly wrongly transferred to a third party earlier this year.
The investigation into the “thefts and deceptions” involving the business is ongoing, Victoria Police say, telling Owner Driver that five prime movers and nine trailer…
Read the full article at: https://www.ownerdriver.com.au/industry-news/1808/exclusive-hennessy-transport-sold-prior-to-liquidation-to-biz-now-linked-to-son
NEW YORK Mired in financial woes, Michael Cohen is sticking his hand out and asking the public for help paying for his legal defense, and one anonymous donor already has ponied up $50,000.
Through his lawyer, Donald Trumps former fixer says collecting contributions through a GoFundMe page set up after his guilty plea this week is the only way to ensure the truth comes out about the president.
Its also the latest sign that Cohen is broke.
Trumps former personal lawyer owes at least $1.4 million to the IRS after pleading guilty. Tuesday to tax evasion, campaign finance violations and bank fraud, and has racked up millions of dollars in debt. Because of his plea, hes being forced to give up his New York City taxi medallions, which h…
Read the full article at: https://chicago.suntimes.com/news/michael-cohen-gofundme-legal-donations-truth-fund-broke-donald-trump-former-lawyer/
MY KITCHEN Rules star and actor Blake Davis allegedly brought a samurai sword down on rapper Jett McKees skull penetrating layers of bone resulting in blood loss, in loss of brain tissue which resulted in his death, a court has heard.
Prosecutor James Ly told Newtown Local Court today that 15 eye witnesses watched Mr Davis armed with a samurai sword and his girlfriend Hannah Quinn chase Mr McKee down a street before the attack leading up to the death of the deceased.
Witnesses saw the accused raise the sword above his head and bring it down on the skull of the deceased. This strike penetrated through layers of bone in the skull, he told the court.
Mr Ly was addressing the court during a bail application by Mr Davis for release from prison …
Read the full article at: https://www.news.com.au/national/nsw-act/courts-law/actor-penetrated-rappers-skull-with-samurai-sword-court-hears/news-story/986bde57652364941e2ad060107eab06
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Tim Murphy
Tim Murphy is co-editor of Newsroom. He writes about politics, Auckland, and media. Twitter: @tmurphynz
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Read the full article at: https://www.newsroom.co.nz/2018/08/23/206523/daughter-takes-mum-dad-to-supreme-court
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Read the full article at: https://www.keyt.com/news/money-and-business/liquidation-sale-begins-at-orchard-supply-hardware-stores/785262705
Former Premier League striker Carlton Cole has been declared bankrupt following his retirement from competitive football in March of this year.
As reported by The Sun, the now 34-year-old was given the verdict by London’s High Court on June 27th, despite
“Unfortunately, I didnt realise what was going on until my career was in the latter years and too late for me to turn things around.”
Starting his career at Chelsea, Cole made 290 Premier League appearances…
Read the full article at: https://www.90min.com/posts/6151445-former-premier-league-striker-carlton-cole-declared-bankrupt-by-london-s-high-court
A Birmingham pub company run by an award-winning landlord has gone into liquidation amid tax debts of more than £360,000.
The Humble Pub Company was owned by Keith Marsden, who previously ran the Prince of Wales and The Dark Horse, in Moseley, and The British Oak, in Stirchley, along with a short-lived wine bar called Cheval Blanc.
At the High Court in London today, HM Revenue and Customs told the Insolvency and Companies Court Judge Catherine Addy that The Humble Pub Company went into creditors’ voluntary liquidation on June 7.
HMRC had lodged a petition with the court seeking to have the company wound up over tax debts but, on the basis of the voluntary liquidation, counsel for HMRC asked for its petition for it to be wound up to be d…
Read the full article at: https://www.birminghammail.co.uk/news/business/company-behind-birminghams-much-loved-15064449
Denis OBriens Digicel Group may be able to take advantage of the discounted price at which $2 billion (1.7 billion) of its bonds are trading, through a corporate restructuring that could raise funds to buy back the bonds on the cheap, according to a new research report.
A report issued to clients this week by Xtract Research, a New York-based debt research firm, said the groups debt-free Digicel Pacific Limited unit may hold the key to a refinancing of the bonds, which are due in 2020, at a price below their par value.
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Read the full article at: https://www.irishtimes.com/business/technology/digicel-south-pacific-unit-may-hold-key-to-2bn-refinancing-1.3604457
The fraud contributed to a 27 per cent drop in the company’s full-year profit to $6.6 million, driving its shares nearly 22 per cent lower.
Normalised earnings for the 12 months to June 30 declined $1.7 million to $13.2 million – largely due to a drop-off in daigou shoppers – and total like-for-like sales were down 3.4 per cent on the previous financial year.
The company was also hurt by the liquidation of two suppliers, at a cost of about $491,000.
Revenue, however, was up 8.7 per cent to $154.9 million, with a stronger performance in the second half of the financial year.
“While we are disappointed at the decline in earnings over FY18, I am very proud of the efforts from our corporate store and support office teams in returning the busin…
Read the full article at: https://www.smh.com.au/business/companies/shaver-shop-hit-by-327-000-daigou-fraud-20180823-p4zzcq.html
Mumbai: Indias dedicated bankruptcy court has sought to remove legal impediments to liquidation or loan-recovery proceedings by setting aside property attachment claims of state-run utilities or operational creditors that have not been paid their dues by bankrupt private-sector borrowers.
The National Company Law Tribunals (NCLT) Allahabad bench said that district authorities cant prevent the sale of land of bankrupt borrower Raman Ispat for its failure to pay outstanding power bills. The local authorities had attached the companys land parcel in lieu of outstanding utility-usage dues.
This is a landmark judgement removing a key hurdle in liquidation processes, said Anil Goel, founder AAA Insolvency Professionals. The order will now be…
Read the full article at: https://economictimes.indiatimes.com/industry/banking/finance/banking/how-nclt-order-makes-liquidation-easy/articleshow/65510613.cms