Insolvency Guardian Media Centre
Debt change to line student’s pockets The Australian
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IFX Payments said today (Monday) it’s considering pulling out of its takeover bid for foreign exchange (FX) broker Argentex Group, just days after the struggling British currency firm appointed administrators due to funding problems.
IFX Payments May Walk Away From Argentex Deal After Administration
The payments company issued a statement saying Argentex entering administration is “of material significance” to the acquisition deal. IFX Payments is now talking with regulatory panels about invoking insolvency conditions that would let it walk away from the purchase.
Back in April, IFX had built escape clauses into its takeover documents. The company specifically said it wouldn’t go through with buying Argentex if the target firm faced…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 8.4% to a total of 2,043 in June compared to May 2025’s total of 2,230, and decreased by 15.9% compared to June 2024’s figure of 2,430.
The business insolvencies consisted of 332 compulsory liquidations, 1,585 creditors’ voluntary liquidations (CVLs), 111 administrations and 15 company voluntary arrangements (CVAs). There were no receivership appointments.
CVLs accounted for 78% of all company insolvencies. The number of CVLs decreased by 8% from May 2025 and was 18% lower compared to the same month last year (June 2024). In the first six months of 2025, CVLs have been at…
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IDBI Trusteeship had moved NCLT against Anil Ambani’s Reliance Infrastructure, but now NCLAT stays insolvency proceedings against the company.
Reliance Infrastructure Ltd announced on Friday that the appellate tribunal NCLAT has halted insolvency proceedings against the company after it repaid Rs 92.68 crore related to…
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MGM China sues Hong Kong actor Jacky Heung over US$180,000 gambling debt focusgn.com
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The National Company Law Tribunal, New Delhi Bench-IV, comprising Manni Sankariah Shanmuga Sundaram (Member-Judicial) and Atul Chaturvedi (Member-Technical), has admitted an application u/s 7 of the IBC seeking initiation of the CIRP against the corporate debtor. The tribunal held that the amount advanced against property can be treated as a “financial debt” u/s 5(8) of the IBC, 2016.
Background of the Case
The applicant, Kaliber Associates Pvt. Ltd., was undergoing liquidation and filed the section 7 IBC application to initiate CIRP of J.R. Modi Associates Pvt. Ltd. for non-payment of Rs. 9.05 Cr.
The applicant contended that the amount was part of a large short-term loan disbursed to the corporate debtor. The…
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EASY MONEY. An online gambling advertisement is prominently displayed along EDSA in Quezon City on July 8, 2025. Senator Sherwin Gatchalian on Monday (July 21) warned that the growing prevalence of online lending apps is enabling a deeper financial crisis among Filipinos already trapped in online gambling, pushing many further into debt and despair. (PNA photo by Joan Bondoc)
MANILA – Senator Sherwin Gatchalian on Monday warned that the growing prevalence of online lending apps (OLAs) is enabling a deeper financial crisis among Filipinos…
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The volume of people needing help with energy debt is worrying, says Matthew Lee
It has been incredibly hot recently. Many people will have gone months without using their radiators.
Indeed during these balmy summer months, most of us are more focused on plugging in an electric fan than switching on our central heating. At this time of year, there is a tendency for energy policy to be out of sight and out of mind, with the focus only becoming sharper when bills rise in the winter.
However, Citizens Advice Bureaux advisers know that energy debt is a year-round problem. Every month, thousands of people turn to their local CAB for energy advice and emergency support, such as fuel voucher referrals. Make no…
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The Mumbai bench of the the National Company Law Tribunal (NCLT) on May 30 this year directed initiation the corporate insolvency resolution process and appointment of an interim resolution professional against Reliance Infrastructure.
The NCLT order came after IDBI Trusteeship in April 2022 had filed a petition alleging a default of ₹88.68…
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It was the brown envelopes that kept falling through the letterbox that filled Dean Windass with foreboding.
Windass was a spiky but effective striker whose 18-year senior career had taken him through all four divisions, including spells in the Premier League with Bradford City, Middlesbrough and Hull City, plus the Scottish top flight with Aberdeen. While he was never one of the game’s superstars, he had earned good money at a time when English football was booming.
Yet, seven years after his 2009 retirement, Windass was effectively broke, his accounts emptied by a tax bill for £164,000 ($223,000 in today’s exchange) — a legacy of an ill-advised investment in the movie industry — and a divorce settlement.
“I remember going to a…
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B.C. Credit Counselling Society sees surge in younger clients seeking debt relief MSN