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People in Plymouth are among the most likely in the country to become insolvent, new figures have revealed.
A total of 851 people in the city either went bankrupt, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017.
That works out as one insolvency for every 248 adults living in Plymouth – the second highest rate in England and Wales combined behind Stoke-on-Trent.
To put that in perspective, the average for England and Wales was one in 469.
In some parts of London and the affluent south – such as Kingston upon Thames – the rate was as low as one in 1,111.
The data was published by The Insolvency Service under Freedom of Information laws.
Simon Romana, also known as Hai and Haimana, founded Ira NRG in 2010 to turn sewage into electricity. The company folded soon after.
An energy company, whose founder claimed he could turn sewage into electricity, has finally met its demise, eight years after it was banned for selling shares without a prospectus.
The liquidation of the company Ira NRG has left everyone involved even the liquidator out of pocket.
Ira NRG was founded in March 2010 by Simon Romana, also known as Hai and Haimana, who claimed he could turn sewage into electricity through a process called gasification.
CREDIT card customers will find it tougher to get plastic under drastic new changes that will force them to repay their debts in just three years.
From January 1 cardholders signing up to a new card must prove they can repay the total limit within this time frame.
Latest Reserve Bank of Australia data shows credit card limits hit a record high in April at $153.9 billion – on an average of about $9400 per card.
Under the changes implemented by the corporate regulator, the Australian Securities and Investments Commission, banks have less than four months to roll out the new rules.
Consumer groups believe the move is a huge win for credit card customers because it will lead to less people running into financial heart…
It was a tale of three murders but only one victim and a bitter falling out between a father and daughter.
Tiffany Yiting Wan and her Singapore-based father, Ah Ping Ban, had been on the same page when they told detectives they had no idea who had killed their mother and former wife Annabelle Chen.
But charged with murder and put in front of a Supreme Court jury over the past three weeks, each of them set about saving their own skin.
If Ban was to be believed, his former wife whose body was found in a suitcase floating in the Swan River died at the hands of her daughter on or about June 27, 2016.
This was scenario one. It had played out in the early hours of the morning, when a blazing row erupted after Wan told Ms Chen she had been in c…
Its not coincidence that Gibsons long-awaited line of new guitars, dropped this week, touts conservatism and a back-to-basics approach: The Nashville instrument-maker is in crisis mode as it hammers out a company restructuring, battles supplier lawsuits and hunts for a new CEO.
Gibson declared bankruptcy in May after admitting that its attempts to branch out into a guitar lifestyle brand including acquiring an expensive home and audio electronics business in 2014 had saddled it with untenable debt, forcing it to unburden itself and refocus on its core business of musical instruments. CEO Henry Juszkiewicz told Rolling Stone at the time that the companys bankruptcy and restructuring would help it clean the slate and concentrate 10…
Investors in Forestlands NZ Ltd say they have little hope of receiving their promised returns as the company goes into liquidation.
Forestlands put up no contest when the Financial Markets Authority (FMA) sought the liquidation of 18 of its subsidiary companies, the latest development in an ongoing series of troubles for the company. The application was heard in the High Court at Nelson on Thursday.
Four investors came to the Nelson hearing, representing the hundreds more who could not atten…
CREDIT card customers will find it tougher to get plastic under drastic new changes that will force them to repay their debts in just three years.
From January 1 cardholders signing up to a new card must prove they can repay the total limit within this time frame.
Latest Reserve Bank of Australia data shows credit card limits hit a record high in April at $153.9 billion – on an average of about $9400 per card.
Under the changes implemented by the corporate regulator, the Australian Securities and Investments Commission, banks have less than four months to roll out the new rules.
Consumer groups believe the move is a huge win for credit card customers because it will lead to less people running into financial heart…
CREDIT card customers will find it tougher to get plastic under drastic new changes that will force them to repay their debts in just three years.
From January 1 cardholders signing up to a new card must prove they can repay the total limit within this time frame.
Latest Reserve Bank of Australia data shows credit card limits hit a record high in April at $153.9 billion – on an average of about $9400 per card.
Under the changes implemented by the corporate regulator, the Australian Securities and Investments Commission, banks have less than four months to roll out the new rules.
Consumer groups believe the move is a huge win for credit card customers because it will lead to less people running into financial heart…
Chinese President Xi Jinping promised Monday to cancel debt for some of Africas least-developed countries.
Erasing debt tied to interest-free loans has long been a part of Chinas policies in Africa. But the announcement, made at Xis opening speech at the 2018 Forum on China-Africa Cooperation, or FOCAC, comes amid growing concern over Chinas lending practices, which some have deemed debt-trap diplomacy.
Yet Chinese loans make up just a small portion of Africas debt, W. Gyude Moore, a visiting fellow at the Center for Global Development, told VOA. Moore is Liberias former minister of public works and focuses on infrastructure financing in Africa.
He put the continents total debt burden at about $6 trillion, most of which …
Executives whose pensions were slashed after an UK industry lifeboat fund took over payment of their company benefits are to receive an income boost following a landmark European Court ruling.
On Thursday, the European Court of Justice upheld a challenge lodged by a UK pensioner whose retirement income was cut by two-thirds when his company pension was transferred to the Pension Protection Fund.
The PPF pays compensation to members of corporate defined benefit retirement schemes when their employer has been declared insolvent and can no longer fund pension commitments.
Annual compensation for people yet to retire is currently capped at £35,500 under PPF rules. This means that those expecting bigger pensions typically senior executiv…
When Andrew Fastow, the former chief financial officer of Enron, finishes a public-speaking gig these days, a dozen or so people from the audience are typically waiting to talk to him.
Some ask about his role in the scandal that brought down the energy company. Others want to know about his six years in prison. After a 2016 event in Amsterdam, as the crowd was thinning out, Fastow spotted two men standing in a corner.
Once everyone else had left, they walked up to him and handed him a laminated chart.The men were there on behalf of KeenCorp, a data-analytics firm. Companies hire KeenCorp to analyse their employees’ emails.
KeenCorp doesn’t read the emails, exactly its software focuses on word patterns and their context. The software then…
The latest credit figures from illion (formerly Dun & Bradstreet) have shown a sharp rise in the number of people under 25 in this country filing for bankruptcy.
And it’s a rise that is occurring at a time when the overall bankruptcy figures are falling.
According to illion, in the 12 months to June 30 there were 207 people aged between 18 and 24 that filed for bankruptcy in New Zealand.
That was an increase of 66.9% on the figure for a year earlier.
As recently as 2014 there were less than 20 people in that age group who filed for bankruptcy.
This means that the figure has increased 10-fold in just four years.
