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Jackal Advisory covenant expert Simon Kew predicts more debt-for-equity swaps

The debt-for-equity market could mean big business deals, with Uniq leading the way.

It seems that given the recent Uniq debt-for-equity deal, we could see an influx of companies looking to make the swap. (more…)

Category : Employer Covenant — Tags: , , , — admin @ 2:23 pm March 7, 2011

January sees 96 companies declared insolvent

96 companies were declared insolvent in January, but figures show that this is a 13% drop on January 2010.

With statistics from InsolvencyJournal.ie reporting that more than three companies a day went out of business last month, it does look as though the economy is not quite out of the woods yet. (more…)

Category : Corporate Insolvency — Tags: , , , — admin @ 11:17 am February 2, 2011

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

UK insolvency down as economy stabilises

The UK economy is starting to stabilise. According to reports by Experian, company insolvencies decreased by more than 13 per cent during June 2010, compared with data from the same period last year. This trend shows that the UK is coming out of the recession.

The data states that 1,771 UK businesses declared themselves insolvent last month, compared with 2,044 in June of 2009. (more…)

UK Corporate Insolvency Figures Set to Rise

Despite steady numbers over the past six months, the number of UK corporate insolvencies is set to rise. Businesses and individuals will continue to be affected by the recession even thought the UK is showing signs of slowly emerging from the downturn. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , , — admin @ 1:01 pm June 15, 2010

Wrongful Trading v Insolvent Trading: know the difference

While the two terms sound similar, it is Wrongful Trading that is the one to watch. Under Section 214 of the Insolvency Act 1986, Wrongful Trading is unlawful. By contrast, trading while insolvent, or Insolvent Trading is not necessarily unlawful. Insolvent Trading can be used as evidence of a case of Wrongful Trading. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 11:18 am March 22, 2010

You go your way, I’ll go mine

What happens if your partnership goes bad?

A partner can be an individual person or a company (corporate partners). Partners are personally liable for the debts of a partnership. Because of the joint and individual liability, a partnership can be dissolved by an application from its creditors or by the partners themselves. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 11:00 am January 26, 2010

Business insolvencies are at lowest in a year

The number of companies going out of business is at its lowest in a year, according to the latest Insolvency Index from Experian.

Figures from August 2008 record that 0.08% of businesses failed. Although the number rose to 0.09% in August 2009, there was a significant decrease from July 2009, which recorded 0.11%. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 11:32 am October 29, 2009

What’s in a name?

Quite a lot, for obvious reasons. But even more so if it’s a new company starting to trade under the same name as one that’s previously gone bust. Under Section 216 of the Insolvency Act 1986, it is a criminal offence for company directors to trade under the same as a company that has previously been declared insolvent. Directors who contravene the Act could be liable to a fine and possibly imprisonment. What’s more, if the new company accumulates any debts, then the directors may also be personally liable for those debts. (more…)

Category : Corporate Insolvency — Tags: , — admin @ 4:20 pm September 30, 2009