“The absence of a dedicated platform for sharing knowledge and elevating the collective voice of debtor countries has long been recognised as a critical gap in the international financial architecture,” read the expert group’s report.

A borrowers’ forum, it added, can address this gap by enabling a platform for peer support and experience sharing. It can help rebalance the global debt governance by amplifying the collective voice, knowledge and advocacy of debtor countries. 

The announcement comes as 3.4 billion people live in countries that spend more on interest payments than on critical social services such as health and education in 2024. “Twenty one countries devote 10 per cent of their GDP to interest payments. This is…

Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has said that African countries seeking aid, debt relief should be given, given their rich natural resources. He says all that African countries will need to do is to take ownership of their natural resources and reduce corruption. In a post on […]Read More

Former Newcastle United, Sunderland and Fulham player Lee Clark, 52, was made bankrupt following a claim brought by a York-based finance firm called One Stop Business

A former Premier League star who has been declared bankrupt now faces an interview by financial investigators.

The Mirror told how Lee Clark, 52, who played for Newcastle United, Sunderland and Fulham, was made bankrupt after a claim by a finance firm called One Stop Business based in York. The former midfielder’s assets are being frozen under the control of the Insolvency Service.

His bank accounts, savings and other valuable assets could be used to pay his unsecured creditors if he does not address the debt. The Insolvency…

20 August 2025

Online | 1 hour’s verifiable CPD

With corporate insolvencies on the rise in Scotland and England, lawyers are faced with an increase in cross border considerations in their cases.

This webinar, led by Louise Lang and Andrew Scott, Senior Associates at Brodies will briefly consider the similarities between the two jurisdictions before focusing on some of the key differences, including each jurisdiction’s approach to…

A housebuilder in Norfolk is set to be liquidated just five years after it was bailed out by a local authority.

Lion Homes, previously known as Norwich Regeneration Limited, is to be wound up after years of losses, with Norwich City Council liable to lose up to £10m.

The council is the only shareholder in Lion Homes having invested around £3.4m in the business, according to its latest accounts, and loaned it £6.1m.

No accounts have been filed by Lion Homes since the end of 2023. The previous four years of accounts show losses in the hundreds of thousands annually, ammounting to total losses of £4.4m over the period.

Companies House published a first notice for liquidation for Lion Homes in May over failure to file its accounts….

Anil Ambani I Reliance Shares: The shares of Reliance Infrastructure and Reliance Power witnessed a downtrend in trade on Thursday after the SBI deemed the loan account of Reliance Communications as fraud, while also incriminating  commpany’s ex-director Anil Ambani.

Reliance Infrastructure dipped as much as 5.12 per cent to hit Rs 377.45, Reliance Power slipped by 4.89 per cent hit Rs 64.75 on the BSE Sensex index.

As per Reliance communications exchange filing dated July 1, 2025, State Bank of India had decided  upon reporting the loan account linked to Reliance Communications as “fraud”. India’s biggest public sector lender also intends to report the name of former RCom Director Anil Ambani to Reserve Bank of India.

The…

FASHION designer Datuk Jovian Mandagie was today declared bankrupt by the High Court (Insolvency Division) for failing to repay a “friendly loan” amounting to RM5.28 million to an engineering and construction company.

Senior assistant registrar Muhammad Faisal Zulkifli issued the order against the former son–in-law of Datuk Seri Ismail Sabri Yaakob during a hearing of the creditor’s petition on Thursday.

…

KUALA LUMPUR, July 3 – Fashion designer Datuk Jovian Mandagie has reportedly been declared bankrupt by the High Court here for failing to repay a RM5 million loan to a construction company.

The Star reported that the court granted the bankruptcy order after Cekap Air Sdn Bhd filed a creditor’s petition over Jovian’s failure to settle RM5,284,340.66, including interest, for a loan given in 2022.

“Jovian did file several applications to stay and strike out the bankruptcy notice and petition that was filed against him but they were dismissed by the court,” said the company’s lawyer, Siti Nur Athirazatti Rohizad.

Cekap Air claimed the loan was extended verbally on February 25, 2022, based on…