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.
Health spending has been cut by 18% in countries where the IMF is requiring large-scale austerity rather than allowing them to seek debt relief
Education spending has been cut by 16%
GDP growth per person is just 1.2%, less than half the average for countries in the global South
Lower-income countries that have been refused the opportunity to seek debt relief by the IMF have instead cut health and education spending by a sixth, according to new research by Debt Justice.
The IMF is breaking its own policies by finding external debts in these countries to be sustainable, when paying debts in full is leading to large cuts in spending on key social services, and trapping countries in low economic growth.
Former England international and Liverpool legend John Barnes has been declared bankrupt after his media company built up £1.5million of debt
Abbie Meehan Sports Writer U-35s and Chris Burns Senior Sports Writer
08:00, 12 Oct 2025
John Barnes has spoken about his financial troubles(Image: Serena Taylor/Newcastle United via Getty Images)
John Barnes has been declared bankrupt after his media company accumulated a debt of £1.5million over several years. Barnes secured two league titles, two FA Cups and the League Cup, scoring an impressive 107 goals in his 406 appearances for Liverpool.
Years after his football career ended, an investigation by The Insolvency Service revealed that his firm, John Barnes Media Ltd, failed to pay taxes between…
John Barnes needed an intervention before being declared bankrupt, according to a fellow retired sports star who has worked with the Liverpool and England legend. HM Revenue & Customs (HMRC) recently announced John Barnes Media Limited, his now-liquidated company, had amassed debts exceeding £1.5million.
Liquidators’ reports show HMRC is owed £776,878 in unpaid VAT, National Insurance and PAYE, alongside £461,849 to unsecured creditors and a £226,000 director’s loan. Barnes, capped 79 times by his country, has faced multiple bankruptcy petitions since 2010, including one in 2023 over a £238,000 personal tax bill that was settled at the last moment. His financial problems have surprised former England and Bath rugby star David…
Kenya has converted its US dollar-denominated railway loans from China into the Chinese yuan, not only securing debt relief but also fitting into Beijing’s long-term goal of internationalising its currency.
Analysts said the decision, announced by Kenya last week, paved the way for other debt-stressed African countries and could ultimately draw them closer to China.
Kenyan Treasury Minister John Mbadi said on Tuesday that the country’s US$5 billion Chinese railway loans had been converted to Chinese yuan, in a move expected to cut annual debt-servicing costs by US$215 million.
Kenya took three loans worth US$5 billion from the Export-Import Bank of China (China Exim Bank) in 2014 and 2015 to build the 600km (373-mile) Standard Gauge…
The NSW-based company, DOB Enterprises Pty Ltd (In Liquidation) has appointed Tim Gumbleton and Mitchell Herrett of RSM Australia Partners as Liquidators of the company incorporating various businesses including MBC Recruitment, Watchout Traffic Control and Port Macquarie Labour Hire.
RSM Australia Director Tim Gumbleton said the company, which operated in the traffic management, recruitment, and health industries had approximately 400 employees across the Port Macquarie, Newcastle and Tamworth regions prior to the Liquidators’ appointment on Tuesday, 7 October 2025.
“Our preliminary review of the financial statements and records indicate the company did not have sufficient cashflow to continue operating and as such, the decision…
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Problem insurers may face management shakeup and even company liquidation in an imminent sweeping insurance overhaul in lockstep with the current banking-sector reforms, officials say.
Under a new law in the making, any insurance con-man will get caught and punished.
The draft Insurer Resolution Ordinance 2025 is set to take a concrete shape as the Insurance Development and Regulatory Authority (IDRA) has convened a crucial meeting with all key stakeholders for Tuesday to finalise the draft.
Stakeholders from both life and non-life insurance companies are expected to attend the meeting, which will be presided over by IDRA Chairman Dr Aslam Alam, according to officials.
A letter obtained by The Financial Express states that…
Lucy says she felt like she had ‘failed’ when her debt started overwhelming her. It was then she knew she had to ask for help
Adults with ADHD tend to earn less, save less, and face money problems more often, according to studies(Image: GETTY)
With Attention Deficit Hyperactivity Disorder (ADHD) Awareness Month under way in October, some experts are raising the alarm over how banks and benefit systems are failing neurodivergent adults through confusing letters and forms or suddenly overwhelming financial changes that can be difficult for them to navigate without the right support.
Previous research has found that people with ADHD often earn around 25 per cent less and save 50 per cent less than their peers without ADHD. They are also more…
Lucy says she felt like she had ‘failed’ when her debt started overwhelming her. It was then she knew she had to ask for help
Adults with ADHD tend to earn less, save less, and face money problems more often, according to studies(Image: GETTY)
With Attention Deficit Hyperactivity Disorder (ADHD) Awareness Month under way in October, some experts are raising the alarm over how banks and benefit systems are failing neurodivergent adults through confusing letters and forms or suddenly overwhelming financial changes that can be difficult for them to navigate without the right support.
Previous research has found that people with ADHD often earn around 25 per cent less and save 50 per cent less than their peers without ADHD. They are also more…
The Australian Financial Security Authority’s intervention in Jon Adgemis’ financial affairs has drawn much attention. The Federal Court orders to enter Adgemis into bankruptcy followed independent actions by AFSA and the Australian Taxation Office. While the headlines focus on personalities, the lesson is broader: effective insolvency regulation is an engine of productivity, economic growth and renewal.
The federal government has put regulation at the centre of its productivity agenda, dedicating part of the Economic Reform Roundtable to it, with a clear challenge: regulate with a growth mindset. That means proportionate, purposeful and outcomes focused regulation, overseen in ways that encourage participation and confidence.
