A restructuring expert claims there could be 6,000 bankruptcy cases this year, as people are finding the process simpler and more appealing than insolvency.
This compares to just 58 people declared bankrupt last year, with new legislation which came into effect last month expected to cause a ‘significant increase’.
The experience of the darker range of emotions is healthy and natural. But what happens when traditional grieving practises fade away, when your community experiences mass emigration, or your friendships move online?
According to the statistics section of the ISI’s website, there were almost 7,500 contacts made to to the ISI either by email or telephone up to the end of October.
This autumn will see a new personal insolvency system coming into effect that will put mortgage holders in arrears in a far stronger bargaining position with the banks, writes Ross Maguire SC.
Three years before the bank guarantee, the then-CEO was talking up Anglo’s hiring policy and describing the outlook for Ireland as ‘very positive indeed’.
The Personal Insolvency Practitioners (PIP) will not be given prescriptive rules around charges, meaning the person who is really in trouble and has no funds could be left on the insolvency scrap heap, writes David Hall, who says there are a number of issues that need to be changed immediately.
The former property devleoper filed for bankruptcy at a Connecticut court on Friday, citing assets of between $1 – 10 million and debts in the region of $500 million – $1 billion.
Atari, which turned 40 last year, was a video game pioneer with games like “Pong” and “Centipede,” but has changed ownership several times amid financial problems.
