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Corporate insolvency figures for 2010 not realistic reflection of what is happening

There has been much discussion regarding the possibility of a double dip recession.

It is believed that 2011 will see record levels of corporate insolvency and that the figures due to be published on Friday will not be reflective of what is happening on the ground with businesses. (more…)

Category : Corporate Insolvency — Tags: , , , , — admin @ 2:32 pm February 1, 2011

Insolvency tourism on the rise

Kent is becoming a hotspot for visitors from across the EU. But these visitors are not ordinary tourists. Their visits have less to do with the green and pleasant land, and more to do with England’s lenient bankruptcy laws.

The Insolvency Service has recorded a 20% increase in the number of foreigners coming to England to take advantage of the ability to clear debts faster here than at home. Some stay behind once they’ve cleared their names. German laws mean that it can take up to nine years in that country to be discharged; in Ireland it can be up to 12. In the UK, it takes just 12 months. In one case, a German management consultant was able to clear debts worth over £15million with the help of an insolvency practitioner. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 10:03 am November 4, 2009