Flybmi, the British regional airline that operated short-haul flights, fell into administration on Saturday after being severely affected by ‘spikes in fuel and carbon costs’ due to uncertainty arising from Brexit.
In 2018, Flymbi ran 29,000 flights, with a total 522,000 passengers on its 17 Embraer planes. 376 staff are employment by the East Midlands based airline, which flew to 25 European cities, including Milan and Munich.
The “Common Financial Statement” is a standard budget format which helps creditors, advisers and people with debt get a clear picture of an individual’s or household’s financial situation.
A new method to calculate the financial situation of those who are in debt or facing bankruptcy should be postponed until significant reservations are addressed, according to Holyrood committee.
Following the Economy, Energy and Fair Work Committee’s inquiry into the Common Financial Tool (Scotland) Regulations, the Committee recommended that a more comprehensive review should be carried out, and the introduction of the system be deferred a year until March 2020.
The number of Scottish registered companies failing rose more than 21 per cent during 2018, according to recent statistics. Analysis of the Accountancy in Bankruptcy (AiB) figures found 945 Scottish firms had failed during 2018 compared with 780 in the previous year, the highest annual number of corporate insolvencies since 2012.
Scottish companies which became insolvent or entered receivership increased by four per cent in the third quarter (Q3) of 2018-19, with 209 companies becoming insolvent compared with 201 in the same quarter of 2017-18.
Many people will either receive or give store gift cards this Christmas.
The general public is well aware of the gift card debacle following the administration of the House of Fraser. Basically the administrators refused to honour them. They said that the gift card holders were unsecured creditors of the company. The net result is that, at most, they will receive only a few pence in the pound on the card.
In a recent case a Russian oligarch feared for his life and was, apparently, the victim of a burglary conjured up by his ex-wife. And to make matters worse the ex-wife was accused of threatening to get him deported from the UK.
Legal changes can have a dramatic impact on you and your business. To ensure you are kept up to date with the latest developments and have the knowledge to make timely, effective decisions, please sign up for our free updates.