Headlines

A total of 115 company insolvencies were registered in Scotland in October this year, the same number as in October 2024, according to the latest UK Government Insolvency statistics., ScottishFinancialNews.com reported. The total number of company insolvencies was comprised of 61 CVLs, 50 compulsory liquidations and four administrations. There were no CVAs or receivership appointments. The figures also revealed that the total insolvency rate in Scotland in the 12 months to October 2025 was 52.0 per 10,000 companies on the effective register, as shown in Figure 7.

In a speech to be delivered at the Australian Financial Security Authority (AFSA) Summit on Tuesday (18 November) and seen by Accounting Times, Andrew Leigh underscored the importance of a robust and trustworthy insolvency system for boosting productivity, the Accounting Times reported. A robust insolvency system that handled bankruptcies smoothly and ensured creditors got a fair deal would incentivise more Australians to take business risks, which in turn could help resuscitate the country’s poor productivity, Leigh said. “Every successful market economy rests on trust.

Tasmania's auditor-general has confirmed he referred Spirit of Tasmania operator TT-Line to the corporate regulator after suspecting its directors were in breach of the Corporations Act, ABC.net reported. Auditor-General Martin Thompson said he made the referral to the Australian Securities and Investments Commission (ASIC) on July 31, having formed the view earlier in the month that TT-Line was insolvent. He appeared at a budget estimates hearing on Monday, where he confirmed he informed TT-Line of his conclusion on insolvency on July 22, but the company continued to trade.

A four-week jury trial in a historical Catholic sexual abuse case was supposed to begin yesterday at B.C. Supreme Court in Vancouver, but an “11th-hour” bankruptcy declaration by one of the defendants has delayed the proceeding, CBC.ca reported.

The Laurentian University Faculty Association is filing a challenge under the Canadian Charter of Rights and Freedoms against the Ontario government, CBC.ca reported. The union says a $35-million loan the province gave Laurentian in 2022, to help the university during its insolvency, came with too many strings attached. The loan agreement includes a clause which says Laurentian would need prior consent from the province to “establish, sponsor, administer or otherwise participate in any defined benefit pension plan” until the loan is fully repaid in 2038.

Commonwealth Bank of Australia, the country's largest lender, believes demand for home loans is too high and is helping to push property prices up, Chief Executive Matt Comyn said on Tuesday, Reuters reported. While admitting the bank benefitted from the surge in housing credit growth, Comyn said a lower level would be better for "long-term financial stability, equality and access to the housing market." "Our view would be that a more sustainable credit growth rate in housing would be slightly below the current level," he told lawmakers at a committee hearing in Parliament.

Russian lawmakers endorsed new tax hikes on Tuesday as Moscow looks for new revenue sources to boost its economy during its nearly four-year war with Ukraine, the Associated Press reported. Legislators in the lower house of parliament, the State Duma, approved the key second reading of a bill that will raise value-added tax from 20% to 22%. The changes are expected to add as much as 1 trillion rubles (about $12.3 billion) to the state budget.

Brazil's central bank effectively halted operations of mid-sized lender Banco Master, which had struggled in recent months with mounting liquidity pressures, on Tuesday as police arrested ​its controlling shareholder, Reuters reported. The regulator named a liquidator to handle creditor claims and sell assets, closing a turbulent chapter for Master,‌ which had grown rapidly through an aggressive strategy built on high-yield debt sold through investment platforms.

A bidder for Thames Water has returned with an improved offer in an attempt to break the impasse between the crisis-hit utility’s £20 billion debtholders and the industry regulator over how to prevent it falling into insolvency, The Times reported.