All items from The COMI

Per www.globalinsolvency.com:

Thu., July 24, 2014The number of recorded personal insolvencies has reached its lowest level in nearly a decade, according to official figures, BBC News reported. The Scottish government said more people were using its debt payment programmes to manage their finances. Enterprise Minister Fergus Ewing described the figures as "encouraging". However, the figures also showed a rise in corporate insolvencies, with 250 Scottish firms failing in the second quarter of 2014. The official statistics published by the Accountant in Bankruptcy (AiB) showed a 25.8% decrease in the number of personal insolvencies from the same quarter the previous year. The recorded number of personal insolvencies, including both bankruptcies and protected trust deeds (PTDs), are now at their lowest recorded level since the first quarter of 2005-06. PTDs have fallen in popularity as Scots take advantage of government debt payment programmes (DPPs), which allow people to pay off their debt over a longer period rather than transfer their estate to a trustee to avoid bankruptcy, as is necessary under a PTD.



From The COMI
Posted 1 day 8 hours ago

Per the Wall Street Journal:

July 22, 2014



From The COMI
Posted 2 days 5 hours ago

Per www.globalinsolvency.com:

Thu., July 3, 2014Malaysian state investor Khazanah Nasional Bhd plans to take Malaysian Airline System Bhd (MAS) private as the first step in a major restructuring of the loss-making airline following the disappearance of its Flight MH370, two people with direct knowledge of the matter told Reuters. A de-listing would pave the way for Khazanah to revive the ailing carrier, possibly by selling off its profitable engineering, airport services or budget airline units, trimming its bloated payroll and installing a new management team. The restructuring and potential sale of MAS is politically fraught due to heavy opposition to job losses from its powerful labor union, which has hampered previous revival plans, and its status as Malaysia's national flag-carrier. At MAS's current price of 21 sen per share, majority shareholder Khazanah would need to pay only 1.05 billion ringgit ($328 million) for the 30.6 percent of shares it does not already own, according to Reuters calculations.



From The COMI
Posted 1 week 5 days ago

Per www.bloomberg.com:

By Michael Bathon 
Jun 30, 2014 4:19 PM ET 



From The COMI
Posted 2 weeks 2 days ago

Per www.globalinsolvency.com:

Fri., June 27, 2014The Bank of England has imposed limits on household borrowing for the first time since 1980 in a bid to stop a credit boom emerging amid surging house prices, theIrish Times reported. The restrictions on large loans imposed by the bank’s financial policy committee will not affect current lending, but it will seek to prevent lending from taking off as the UK economy recovers. The central bank expects house prices to rise a further 20 per cent. In putting a cap on the proportion of large mortgages a bank can issue compared with borrowers’ incomes, BoE governor Mark Carney warned that he would not countenance a further credit-fuelled housing boom. “This is the limit of our tolerance, and that is why there is a cap in place,” he said. He added that the measures “will prevent lending getting too far ahead of income growth, and they’ll prevent a slide into riskier lending and higher indebtedness that could undermine the economic expansion over the medium term”.



From The COMI
Posted 3 weeks 3 days ago