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.
PRESIDENT of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Chimezie Victor Ihekweazu (SAN), has said that in light of the changing world and numerous economic challenges many businesses are facing, business owners should engage business recovery experts to save businesses before they actually fail.
He stressed that they are willing and ready to support business recovery and the practice of insolvency, as well as help failing or challenged businesses come back to life.
Speaking at the members’ night, which held recently in Lagos, he said the association is made up of accountants, lawyers, and bankers, including tax practitioners with a special bias for insolvency, who are trained to…
Dear Annie: My daughter “Theresa,” now 46, always wanted to be a doctor. I divorced her father when she was 4 and her sister was 2-and-a-half. When it came time for college, her father refused to help, and I couldn’t afford to pay for it as a single mom.
Determined, Theresa joined the Army and used the GI Bill to earn two undergraduate degrees while working full-time as a medical technician. She then earned her Master of Science with scholarships and loans. During this time, she got married and had a son, now 7. At 39, while pregnant, she applied to medical school. She used student loans to cover tuition, rent, day care and food. A few years later, she had twin girls and took a year off school to care for them.
Although some people win big, gambling is more likely to make you sink deeper into debt.
Many South African consumers have turned to gambling to fix their finances, but unfortunately, experts say this is definitely not the answer. All income groups are suffering financially and battling with debt, and cannot be blamed for thinking they will try just once to win a little money.
As consumers grapple with the pressure of rising living costs, high unemployment and economic uncertainty, more people are turning to gambling in the hopes of a quick financial fix. However, Niresh Gopichand, risk director at Atlas Finance, warns that gambling is a dangerous illusion that often worsens financial distress rather than solving…
Claire’s has collapsed into administration in the UK and Ireland with 2,150 jobs put at risk.
The appointment of Will Wright and Chris Pole from Interpath as joint administrators to Claire’s Accessories UK, Claire’s European Services and Claire’s European Distribution follows the announcement that Claire’s Holdings had commenced voluntary Chapter 11 proceedings in the US. The company has been struggling against declining sales and strong competition.
With its UK headquarters in Birmingham, Claire’s currently operates a total of 306 stores across the UK and Ireland.
The administrators will continue to trade the companies in administration…
Insolvency specialists were appointed to wind up the Dun Cow Bar and Grill in Telford on August 11, after the restaurant filed for voluntary liquidation following a creditors meeting at the beginning of August.
However the business is set to continue trading with all jobs saved after it was sold to another firm, the company’s joint liquidators have confirmed.
The business, based on Trench Road in Telford, has traded as the Dun Cow Bar & Grill since October 2020.
The Dun Cow bar and grill, Trench
“Like many businesses in the corporate hospitality sector, this business has been hit by a number of economic challenges, impacting its working capital,” said Luke Brough, Director at Opus Restructuring & Insolvency, the former company’s joint…
On 8 August a Court of Session commercial judge refused to make a first order in a petition to wind up a company, declining to authorise its intimation and service. Instead the judge granted the respondents’ motion to dismiss the petition.
The company had lodged a caveat and appeared by counsel, as did two of its directors, who had not lodged caveats. The company had been placed into voluntary liquidation. The petitioner objected that only the liquidator could appear for the company. Lord Lake held that the validity of the voluntary liquidation was contested, and said that “I therefore consider that counsel was validly instructed on behalf of the company … So far as the…
Pakistan plans to utilise hedging instruments to manage exchange rate volatility risks, while also working to develop domestic futures and interest rate swap markets, according to the “Medium Term Debt Management Strategy (MTDS) for FY 2026-28” released by the Debt Management Office, Finance Division.
“The government is committed to actively managing foreign exchange (FX) risk. There are plans to use hedging instruments to mitigate exchange rate volatility risks,” read the Medium Term Debt Management Strategy FY2026-28.
The MTDS projects that nominal GDP will rise from Rs114.7 trillion in FY 2025 to Rs162.5 trillion by FY 2028, driven by growth in the agriculture and manufacturing sectors. It also anticipates an average primary…
