A shopkeeper from Beeston in the Yorkshire town of Leeds has spoken to the local newspaper of his horror upon receiving an energy bill for nearly £40,000.
When he first opened the mammoth bill from British Gas, 40-year-old Philip Bennett immediately worried that he would be forced into bankruptcy. He claims he has not missed a [...]
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Monthly Archives: July 2011
Shopkeeper feared bankruptcy after receiving £40,000 energy bill
Fraudulent US art collector jailed over debt problems
A prominent art collector from New York has been handed a prison sentence after he was found to have embezzled money, violated the terms of his bankruptcy agreement and “lived a life of fraud and deceit on a massive scale”.
US District Court Judge Denise Cote sentenced 71-year-old Ralph Esmerian to six years in federal prison [...]
Ballymena brothers banned from being company bosses after bankruptcy
Two brothers who ran businesses in the Country Antrim town of Ballymena in Northern Ireland have been banned from being company directors after they were forced into bankruptcy.
Joseph and Gerard McLarnon were brother and business partners who ran a hotel management company called MCL Investments (NI), which formerly operated the Leighinmohr House Hotel in Ballymena. [...]
Shoppers more wary of debt problems this summer, research shows
The latest statistics on shopping, spending and debt management have revealed that consumers were less likely to make big purchases last month (June 2011).
The Nationwide Consumer Confidence Index came up with the data, which showed that both consumer confidence and spending dropped in June, despite it rising in May around the time of the Royal [...]
Debt picture worsens for Scots as bankruptcy jumps by 25%
Just days after it was revealed that Scottish people have taken on more debt than the rest of Britain, it has now emerged that bankruptcy cases north of the border have soared dramatically in the last few months.
Accountant in Bankruptcy (AIB), the body responsible for personal insolvency in Scotland, recorded an increase of 25 [...]
Football legend Colin Hendry discharged from bankruptcy
The retired Scottish footballer Colin Hendry has officially been discharged from bankruptcy, to the annoyance of creditors who will only recoup £36,000 of the £2.1 million he owes.
Hendry, who formerly captained both Scotland and Blackburn Rovers football teams, was forced into bankruptcy in June 2010 after his debt problems spiralled out of control. The former [...]
R3 report shows Scots have greater debt problems than rest of UK
A new report produced by the insolvency trade body R3 has suggested that people living in Scotland are facing greater debt problems than anywhere else in Britain.
The report, R3’s quarterly debt snapshot, showed that 13 per cent of Scottish people had taken on extra debt in the last few months, in the form of loans, [...]
Glasgow builder given record loan ban after breaching bankruptcy terms
A builder from Glasgow has been banned from applying for loans or acting as a company director for seven years after he broke the terms of his bankruptcy agreement.
John Henry, 45, was brought before Stirling Sheriff Court accused of continuing to trade despite being declared bankrupt. A major investigation was launched into Mr Henry and [...]
Derbyshire man caught dealing drugs to tackle debt problems
A 24-year-old man originally from Glossop in Derbyshire has been caught attempting to deliver drugs to Dundee in a deal designed to help him tackle his debt problems.
Peter Hadley, 24, was arrested by police leaving a hotel in Perth with more than a kilo of heroin in his possession. He was caught after a tip-off [...]
Unpaid tax debt causes £1.6m hole in Staffordshire council budget
East Staffordshire Borough Council has revealed that residents and businesses which are not paying their council tax and are failing to take action on their debt problems have left a £1.6 million hole in the local authority’s budget.
The council said that after months of chasing tax debts, it had now been forced to take legal [...]
Real Housewives’ star Sonja Morgan faces losing her home over bankruptcy
Despite starring in hit US TV show Real Housewives of New York, the reality star Sonja Morgan has revealed that she could lose her home after declaring bankruptcy and fighting a divorce settlement battle with her former husband.
Morgan first spoke of her financial woes during episodes of Season 4 of the popular Real Housewives series. [...]
Property developer Ken Campbell avoids bankruptcy with IVA
The property developer Ken Campbell has reportedly applied for an individual voluntary arrangement (IVA) in order to stave off bankruptcy.
Whilst the full extent of Campbell’s debt management problems has not been revealed, his financial situation is believed to be so dire that he is fighting off bankruptcy. In order to do so, Campbell has taken [...]
Man caught breaking bankruptcy agreement by running business
A man from Caythorpe in Lincolnshire has been caught running a business even though it breaks the terms of his bankruptcy agreement.
Martin Coaley, 55, declared bankruptcy after his businesses, Badger Commissioning Ltd, failed in January 2002. However, he became the sole director of another company, Badger Consulting Ltd, five years later, even though he was [...]