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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…)

Portsmouth FC on the verge of insolvency

Portsmouth Football Club owes £22million to finish the current football season. Wtih debts at that level, the club is facing insolvency.

When the club’s management stands before the high court on March 1st, they will need to demonstrate that they can generate the cash injection required to stay in the game. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 3:31 pm February 22, 2010

Personal Insolvency hits new high

Over 33,000 personal insolvency cases were recorded in the second quarter of 2009, an all-time high in England and Wales.

Records show a rise of 9% on the first three months of this year, a 27% increase on the same period of the previous year. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , — admin @ 10:35 am September 1, 2009

Ministry of Justice closes one hundred ‘Misleading’ Debt Firms

The Ministry of Justice (MoJ) has ordered the closure of one hundred companies claiming to be able to write off debts or secure personal injury compensation.

Since April 2007, one hundred companies have been shut down for severe malpractice. (more…)