The second half of 2024 saw a 47 per cent increase in total insolvencies compared to the same period the year prior, ASIC data has revealed.
Insolvency rates increased across nearly all sectors of the economy in the final two quarters of 2024 as the ATO continues its stricter stance towards tax collection.
The leading sectors included construction, accommodation and food services, and other services. Some 1,827 construction companies entered external administration between July and December 2024, marking a 29 per cent increase on 2023.
The ATO stated in its 2023–24 annual report that it would continue its firm approach towards debt collection in the post-pandemic era…
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Amitabh Bachchan’s life has always been the stuff of Bollywood legends. From being dubbed a ‘failed newcomer’ to becoming the ‘Shahenshah’ of Hindi cinema, his story is one of remarkable highs and crushing lows. But perhaps the most testing time of his life came not in front of the camera, but at home, when his company went bankrupt, plunging him into debts of nearly Rs 90 crore. It was such a dark phase that even his son, Abhishek Bachchan, chose to quit college to be by his side.The early days: A superstar born from failuresBig B’s career did not start off on a rosy note. His initial films failed to impress either the audience or critics. It wasn’t until 1973 that he tasted real success, with ‘Zanjeer’ catapulting…
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If you’ve been made redundant and your employer is insolvent, you can apply to the Insolvency Service for the money you’re owed.
To apply, you must complete the online application. We’ll then assess your claim and pay you the money you’re entitled to.
We make separate payments for the different elements of your claim:
We’ll send you a letter each time we make a payment. This means you may get several different letters from us.
This guide explains the types of payment you might be entitled to and how we work out how much we should pay you.
If you…
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A recent study has revealed that nearly a fifth (17 per cent) of Australian SMEs would collapse if they lost just one major client.
As revealed in ScotPac’s SME Growth Index Report, if businesses lost a key client, there would be an average revenue loss of 22 per cent.
Diversifying revenue streams is key to the survival of small businesses, said ScotPac CEO Jon Sutton.
“This feedback tells us that too many SMEs are just one shock away from collapse. Relying heavily on a single client or supplier can create serious vulnerability – especially in a volatile trading environment,” Sutton said.
“In challenging conditions, businesses that diversify their client base and secure flexible funding are the ones…
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Guy Conroy was a director of Green IS Group Limited and GIS Forestry Limited, which offered customers the opportunity to invest in teak trees on plantations in Brazil
Conroy allowed Green IS Group and GIS Forestry to mislead their customers, breaching contractual obligations in the process
At least £8.525 million was owed to investors when the companies went into liquidation in March 2022
The director of two companies which claimed to run teak plantations in Brazil has been banned after investors lost more than £8.5 million.
Guy Conroy, 57, was the director of Green IS Group Limited and GIS Forestry Limited which offered customers the opportunity to invest in teak trees on its…
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Washington: A federal judge in Texas on Friday granted a request from the Trump administration and industry groups to scrap regulations adopted during the final days of Joe Biden’s presidency that would have removed consumers’ medical debts from their credit reports, court papers showed.
U.S. District Judge Sean Jordan, whom Trump appointed in 2019, agreed with current leadership of the Consumer Financial Protection Bureau and financial industry trade groups that the rule, adopted in January, exceeded the CFPB’s legal authorities and should be vacated.
Representatives of the CFPB, which ceased defending the rule after President Donald Trump took office…
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Letter: The City is uniquely placed to help poor nations in debt distress Financial Times
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Montel News – Energy Insights
07.07.2025
Power consumers in central and southeastern Europe may see a decrease in the instances when they are paid to use electricity due to weather conditions, high gas prices and savvy power traders.
Reporting by Snjolfur Richard Sverrisson, Editor-in-Chief, Montel News. Contributors: Amani Joas, Managing Director, FlexPower; and Gábor Szatmári, Head of CEE Sales Region, Montel.
This video was originally published on 28th April 2025.
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