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Insolvency Rates Show ‘Stark’ North-South Divide

A “stark” divide between the north and south of England has opened up since the recession in rates of personal insolvency, highlighting the uneven nature of the economic recovery, the Financial Times reported. In London and the home counties, insolve ...

Daily Headline - global.abi.org - 04/26/2015 - 22:29 - 0 comments

North Sea Oil Driller On Brink Of Insolvency

The slump in oil prices looks set to claim its highest-profile victim after a North Sea drilling firm warned it was facing collapse unless it can bring in urgent funding, The Scotsman reported. Trap Oil, which is quoted on London’s Alternative Invest ...

Daily Headline - global.abi.org - 04/23/2015 - 22:59 - 0 comments

Tesco Reports £6.4 Billion Loss, The Worst In Its 96-Year History

Britain’s biggest retailer Tesco posted the worst annual loss in its 96-year history on Wednesday after writing down the value of its stores by £4.7 billion, the Irish Times reported. Also hurt by an accounting scandal and sliding sales due to pressu ...

Daily Headline - global.abi.org - 04/22/2015 - 21:02 - 0 comments

Scotland Warned Of Substantial Tax Rises

Scotland would need to make “substantial” tax rises or spending cuts if it won full control over taxation and spending, a respected think-tank has warned, undermining claims by the Scottish National party it would be able to bring austerity to an end, th ...

Daily Headline - global.abi.org - 04/21/2015 - 21:03 - 0 comments

Petrofac of Britain Takes Another Write-Down on Gas Project

Britain is not usually considered the wild frontier of the oil industry, but it is proving to be a tough environment for what had been a fast-growing engineering and construction company called Petrofac, the International New York Times reported. The ...

Daily Headline - global.abi.org - 04/20/2015 - 21:51 - 0 comments

HMRC To Lose Out In Phones 4U Insolvency

just 0.4%, PwC said in its latest progress report yesterday, Economia reported. PwC, which was ... about 0.4%, or 0.4p in every pound owed. The total debt to unsecured creditors is about £168m. PwC has ... creditors, including HMRC, of collapsed mobile retailer Phones4U will see a return of just 0.4%, PwC said in ...

Daily Headline - global.abi.org - 04/15/2015 - 23:16 - 0 comments

HSBC Facing Criminal Investigation in French Tax Case

The British bank HSBC said on Thursday that it had been placed under formal criminal investigation by French magistrates examining whether its Swiss private bank assisted wealthy clients to avoid taxes, the International New York Times reported. Inve ...

Daily Headline - global.abi.org - 04/09/2015 - 21:20 - 0 comments

Labour Win In UK May Spark Flight Of Wealthy To Ireland

Ireland could offer itself as a home to some of Britain’s wealthiest residents if a Labour government was elected in the UK and followed through on threats to abolish a rule which allows some people to mitigate their UK tax liability, the Irish Times ...

Daily Headline - global.abi.org - 04/08/2015 - 22:37 - 0 comments

UK’s Biggest Banks Slash Bonus Pools By More Than £1 Billion

The UK’s five largest banks cut bonus pools by more than £1 billion last year and most also reduced pay and staff numbers, according to Financial Times analysis, potentially blunting political attacks on banker excess ahead of the general election. T ...

Daily Headline - global.abi.org - 04/07/2015 - 22:13 - 0 comments

DLA Piper - Global Insight Q1 2015 content for Global INSOLvency.com website

In recent months, the US has seen a staggering increase in the number of retailers, both large and small, filing for bankruptcy. Among others, Dots, Alco Stores, Radio Shack, Deb Shops, Wet Seal, and Delia’s have each filed for bankruptcy protection in t ...

Resource Article - twallace@abiwor... - 04/06/2015 - 10:38 - 0 comments - 0 attachments

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