Insolvency
High Court shuts down two landbanking firms
The High Court has placed two landbanking businesses into provisional liquidation on the grounds of public interest, following an investigation by the Insolvency Service.
'Phoenix' land banking firm shut down
A land banking operation which was continuing the work of a business previously shut by the Insolvency Service has itself been wound up.
Two firms wound up as land banking clampdown continues
The Insolvency Service has wound up two land banking firms in the latest clampdown on the fraudulent investment activity.
Will writing firms shut down after mis-selling
Three companies providing will and trust writing services were wound up last week after an operation by Company Investigations (CI), a branch of the Insolvency Service.
Pensions Regulator beats Lehmans in latest court battle
The Court of Appeal has ruled that pension scheme liabilities are prioritised over other unsecured claims when companies collapse.
Govt delays 'phoenix' firms reforms
The Department for Business, Innovation and Skills (BIS) has delayed tackling "phoenix" companies until next spring due to industry opposition to reform.
High Court orders six land banking companies to close
The High Court has ordered the closure of six land banking companies.
Business insolvency rate down in July
The rate of insolvencies among UK businesses fell by 30% last month year-on-year, according to Experian.
Geithner urges Europe to focus on growth-papers
Europe must focus on growth as well as cutting spending to reduce national deficits, US Treasury Secretary Timothy Geithner says.
Bankruptcy hit one in 114 businesses in 2009
A third more companies fell into bankruptcy in 2009 than the year before, according to official statistics released today.
Company insolvencies set to worsen in 2010
There was a 6% rise in the number of companies in financial distress in Q4 2009, bringing the total to 140,000.
Study predicts 40,000 firms will go bust in 2010
Up to 40,000 businesses could go bust next year, according to a study by Begbies Traynor.
Aviva and L&G to cut dividends - papers
Two of Britain's biggest insurers are poised to slash dividends this week, potentially derailing the stockmarket's blockbuster summer rally, The Times reports.
Insolvency rate to reach 30,000 in Q1
Almost 30,000 people will probably become insolvent in the first quarter of the year, according to Grant Thornton.
Massive insolvency to grow, says Grant Thornton
Today's insolvency picture could get much worse through the rest of this year into 2008, says Grant Thornton, the financial and professional services firm.
10,000 people a month face insolvency - papers 3 Jan
More than 10,000 people a month are expected to declare themselves insolvent this year as a culture of unsustainable debt grows among the "buy now, pay never" generation, says the Times .
Banks no longer first in line for insolvency debts - papers 1st July
A LONG-HELD LAW which placed banks above other claimants in insolvency cases has been overturned by the House of Lords but this could make getting a small business loan tougher, says the Daily Telegraph .
New bankruptcy orders can be extended beyond a year
The bankruptcy courts do have the power to impose much lengthier periods of bankruptcy than is generally known under the new laws, if it can be proven the individual deliberately incurred debts which they knew they could not afford to pay.
Lifeboat deal with Tenet hits the rocks
The Tenet Group has just announced it has "reluctantly" called off its plans to buy the troubled Lifeboat Group.
Three more Lifeboat operations sink
Insolvency experts BDO Stoy Hayward has filed bankruptcy proceedings against three divisions of Lifeboat Financial Group, a year after Legal & General also filed a bankruptcy petition on another division of the intermediary firm.
Strategy launched to tackle indebtedness
A new strategy has been unveiled by government officials and consumer bodies to cope with the growing tide of indebtedness and financial exclusion.
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