Insolvency Guardian Media Centre
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Stuart Edward Hutchinson, 38, and Lauren Hutchinson, 34, were directors of Adlington Electrical Limited (AEL), based in Chorley.
Both were found to have allowed the company to trade to the detriment of HM Revenue & Custom (HMRC), despite having significant income during that time.
According to the Insolvency Service, they failed to submit VAT returns and ensure payments for PAYE, National Insurance Contributions, and Construction Industry Scheme deductions were made.
As a result, HMRC submitted claims totalling more than £304,000, including charges and interest.
Between May 2020 and December 2023, AEL banked more than £1.65 million, yet only £19,089 was paid to HMRC, while £520,045 was paid to the…
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undischarged bankrupt doctor
with a total debt of nearly $48 million owing to his creditors as at May 28 failed to disclose assets worth more than $4 million to the authorities.
Goh Seng Heng, 70, who founded the PPP Laser Clinic chain, was fined $43,000 on July 9 after he pleaded guilty to eight charges under the Bankruptcy Act.
He will have to spend 22 weeks behind bars if the amount is not paid.
lost a lawsuit filed by businesswoman Wang Xiaopu
, who invested $30.7 million in the PPP chain and demanded the return of her money.
When he failed to repay the sum, she sued his family members, contending that he placed his assets out of his creditors’ reach via various asset purchases and transfers.
Goh applied…
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Blue Air Aviation S.A. has officially entered bankruptcy following a decision approved by its creditors and announced by Infinexa, the Romanian company appointed as judicial administrator. Infinexa, which specializes in restructuring and financing distressed businesses, cited the airline’s failure to secure a strategic investor and its mounting losses as key reasons for initiating the proceedings.
Despite efforts by both Blue Air’s management and its majority shareholder, the Authority for the Administration of State Assets (AAAS), no investor was found to inject the necessary capital to implement a reorganization plan, Infinexa announced. As a result, on June 2, 2025, the General Meeting of Creditors voted in favor of declaring…
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The Fairness Group
The government established the Fairness Group in 2016, bringing central and local government, the debt advice sector, and the debt collection industry together.
The Fairness Group is responsible for examining fairness in government debt management practices and making evidence-based recommendations for change. This includes fairness in relation to the treatment of vulnerable customers, while ensuring the government is fair to taxpayers and those that do pay on time, by taking a proportional response to those that do not.
This toolkit has been developed by the Fairness Group, led by the Government Debt Management Function (GDMF). It is designed to help public sector bodies recovering debt to identify and support…
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What collection debt looks like in America: A mid-year look Modesto Bee
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National nonprofit credit counseling agency Take Charge America reveals the critical components and benefits of this effective, yet underutilized debt relief option.
PHOENIX, July 09, 2025–(BUSINESS WIRE)–When faced with mounting credit card debt, many Americans assume their only options are drastic: debt settlement, bankruptcy or simply ignoring the problem.
But there’s another path that’s often overlooked — one that offers structure, support and less impact to your credit. A Debt Management Plan (DMP) could be the financial lifeline that makes it possible to tackle debt with confidence, clarity and consistent progress.
“Debt Management Plans are one of the best-kept secrets in the world of debt relief,”…
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From Wealth Management to AI Debt Relief: Inside Midas Labs’ Reinvention Fintech.ca |
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Infinexa, a Romanian entrepreneurial company specializing in restructuring and financing distressed businesses, with €200 million in assets under management, announces the commencement of bankruptcy proceedings for Blue Air Aviation S.A.
“The decision to initiate bankruptcy was made following the inability to secure an investor, despite significant efforts made in this direction by Blue Air’s management as well as its majority shareholder. A series of uncertainties had built up, leading to continuous losses, and it became necessary to act in order to contain them. “Bankruptcy is the fairest solution for protecting the interests…
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Philip Ballard, of Ballard Business Recovery, was appointed voluntary liquidator for Essentially Tiles last month.
He in turn has instructed Kumar and Company to auction off the company’s assets.
The Walsall-based chartered surveyors, valuers and auctioneers are running an online auction sale, which continues until next Thursday (July 17).
Along with the tiles, two forklift trucks and a long wheelbase van, as well as grouting and adhesives, will be auctioned.
Based on the Stourbridge Estate, on Mill Race Lane, Essentially Tiles’ warehouse is currently stacked with 5,000 different product lines.
Rajiv Kumar, managing director of Kumar and Company, said: “This business has been running for quite a period of…
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Drake is getting candid about his recent gambling misfortunes.
On Wednesday (June 18), the 38-year-old rap superstar took to social media to reveal the millions he’s lost through sports betting over the past month.
“Gotta share the other side of gambling…,” Drake wrote on his Instagram Story alongside a screenshot of his hefty losses. “Losses are so fried right now I hope I can post a big win for you all soon cause I’m the only one that has never seen a max these guys max once a week.”
According to the post, the Toronto MC placed nearly $125 million in bets over the past month, resulting in about $8 million in losses. While Drake didn’t detail which specific wagers led to the downturn, recent NBA…
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The streamer Trainwreck has announced he will take a break from gambling after losing $19.5 million in a livestream at online casino Stake.
In other broadcast news, political commentator Tucker Carlson has urged young men not to pay their gambling debts.
In a stream posted on Kick two days ago titled “Max Win or Week Break – Pray Please”, he racked up more losses to add to the previous four losing sessions. In total, his losses over the five days added up to $19.5 million.
He then stated, “I gotta force myself…