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HMV in covenant crisis talks

The music and entertainment retailer HMV have announced that they are likely to break banking convenants as debts mount.

HMV are already in talks with Deloitte regarding debts to lenders including RBS and Lloyds and have issued their fourth profit warning in six months. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , , — admin @ 7:28 pm March 2, 2011

Small pension holders now eligible for debt relief orders

Under new government plans, people in financial difficulty will be able to write off their debts more easily. The proposals, put forward by the Department for Business, Innovation and Skills, mean that people with small pension pots will now be able to apply for Debt Relief Orders (DROs). (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 11:15 am March 22, 2010

New year, old debts

As the first month in the year, January represents a new start for most people. Resolutions abound, usually relating to living more healthily, better money management and improved savings habits. This year though, many individuals and businesses will go into the new year with a financial hangover from 2009. So what’s in store for those so badly affected by the troubled economic developments of the last eighteen months? (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , — admin @ 11:03 am January 26, 2010