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.
Household energy debt has surged to £4.43 billion – three quarters of a billion pounds more than this time last year, latest Ofgem figures show.
According to Ofgem data, household debt and arrears have risen from £1.45 billion at the end of 2020 to £3.69 billion in the second quarter of last year and to £4.43 billion a year later.
The regulator also reported that 1,133,683 electricity customers and 926,545 gas customers are in debt without any repayment arrangement in place.
The collective debt is leaving households facing up to an extra £145 a year on their bills to cover the shortfall.
An Ofgem spokeswoman said: “The current levels of energy debt are unsustainable, and this is a challenge that requires action…
The source claims the council is simply delaying the inevitability of declaring bankruptcy in hope of a government bailout after the delayed publishing of their accounts on Monday (September 22). Councils technically can’t go bankrupt but issuing a Section 114 Notice is effectively declaring bankruptcy because it means it cannot…
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Mayer & Cie., the long-established German manufacturer of circular knitting and braiding machines, has filed for insolvency under self-administration at the Hechingen District Court. The application was submitted on 23 September 2025, with the company emphasising that business operations will continue during the restructuring process.
Founded in 1905 and owner-managed in the fourth generation, Mayer & Cie. recently celebrated its 120th anniversary. The company employs around 280 people at its Albstadt headquarters, with salaries secured for three months through the German insolvency benefit scheme. Almost all of its machines are exported and remain highly regarded by textile manufacturers worldwide.
Mayer & Cie., the long-established German manufacturer of circular knitting and braiding machines, has filed for insolvency under self-administration at the Hechingen District Court. The application was submitted on 23 September 2025, with the company emphasising that business operations will continue during the restructuring process.
Founded in 1905 and owner-managed in the fourth generation, Mayer & Cie. recently celebrated its 120th anniversary. The company employs around 280 people at its Albstadt headquarters, with salaries secured for three months through the German insolvency benefit scheme. Almost all of its machines are exported and remain highly regarded by textile manufacturers worldwide.
There wasn’t enough water in the ocean to keep lawmen from netting a man they say jumped off a cruise ship to escape having to pay off a $16,000 gambling debt.
Jey González Díaz was riding aboard Royal Caribbean’s Rhapsody of the Seas near the Port of San Juan in Puerto Rico when authorities say he got the idea to steal himself some unexpected shore leave by bailing on the boat after racking up a hefty gambling debt in the ship’s casino, according to CBS News.
The passenger’s plan was all wet, they say — because video footage shows people on jet skis fishing the guy out of the water and reeling him in to shore.
United States Disrict Court for The District of Puerto Rico
Customs and Border Protection officers in Puerto Rico…
At today’s High-Level Event on Financing #AUSSOM on the sidelines of #UNGA80, co-convened by the Government of #Somalia, the AU, the @UN, & the United Kingdom, the Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, commended Somalia’s remarkable progress; from debt relief to UN Security Council membership, as well as the sacrifices of AU forces & partners.
He cautioned, however, that despite these gains, fragility persists, Al-Shabaab continues to threaten peace, & Somalia cannot shoulder this burden alone.
He underscored that AUSSOM will require $196 million in 2025. The AU has already doubled its contribution to the Peace Fund to $20 million, demonstrating Africa’s resolve. Yet without urgent, predictable,…
