Gareth Sowter, 51, of Lower Road, Great Amwell, was declared bankrupt in April 2021 after failing to pay more than £100,000 to the prep school attended by his three sons, the Royston Crow reported. He promised to use a sizeable inheritance to settle the debts, but instead transferred more than £100,000 to his friends and family, breaking insolvency laws. Sowter was jailed for two years and two months at the Old Bailey on Thursday (March 26) after pleading guilty to offences under the Insolvency Act 1986.

Frutas Tadeo SA has filed for bankruptcy, a procedure currently being handled by the Commercial Court number 2 in Santa Cruz de Tenerife, Tenerife Weekly reported. This represents a complete insolvency, as the financial statements reveal the absence of assets. The court has granted creditors 15 days to evaluate the appointment of an insolvency administrator. If any irregularities are identified, the social action of liability against the administrator may be pursued. Lastly, the report should indicate whether there are sufficient grounds to classify the bankruptcy as culpable.

A French decree will protect investors’ cryptos when platforms go bankrupt, The Currency Analytics reported. As of April 2026, holders of digital assets will have the same rights as those with traditional financial securities. The decree follows reforms launched in 2024. It strengthens the legal framework around digital assets. If a platform collapses, users’ cryptocurrencies remain their property. All platforms registered in France are affected. They must separate clients’ assets from their own funds.

Italy has approved European Union‑mandated measures to create a more uniform framework for alternative investment funds, especially credit funds, whose importance ​has grown as a source of financing for companies outside of ‌the banking system, Reuters reported. Italy's move to align its rulebook with EU standards comes amid mounting financial stability concerns over the $2 trillion global private credit market, which is ​showing signs of strain in the U.S. In the EU, however, ​policymakers are intensifying efforts to expand nonbank financing for companies ⁠to help the real economy.

British lenders last month approved the most mortgages ‌in three months and consumer credit grew at the fastest pace in nearly two years, Bank of England data showed on Monday ahead of a potential hit from higher borrowing costs caused by the Iran war, Reuters reported. The BoE said ​62,584 new mortgages for house purchase were approved in February, up from 60,246 in ​January. Economists polled by Reuters had pointed to 61,250 approvals during the month.