Insolvency in the News: Pensioners going bust; business owners throwing in the towel; Gumpert cars is insolvent; Irish IPs under the spotlight
There are a number of interesting insolvency items in the press. The Daily Mail has an interesting piece on the increasing number of insolvent pensioners. This makes interesting reading for the policy implications on the older users of the insolvency system, but also because younger generations are also suffering, according to the report, as a grandparent safenet has been removed, the FT also has an interesting piece on business oweners throwing in the towel. See here. The Top Gear guys have also reported that Gumpert, the German supercar manufactuer is also now insolvent. The Irish Times has a piece on Irish IPs and their attempts to get more exposure as 'debt doctors'. See here. The paper also has an interesting piece on the upper debt limit in insolvency. See here.
Finally, the Sunday Telegraph also has an interesting piece on directors' disqualification and reform of the D1 conduct reporting form. In 1985 the automatic disqualification of all directors who had been involved in an insolvent company was mooted. This is currently the approach in Ireland. The burden of proof reversal, cost reduction, as well as the increased compliance of directors all seem sensible outcomes from this alternative approach.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...