Griffin & King

The process can be started immediately. The directors need to sign a resolution to appoint an Insolvency Practitioner to prepare a statement of affairs and to call a creditors meeting.

George Osborne has conceded that his £130bn Help to Buy lending scheme could artificially inflate the housing market asking the Bank of England to monitor the initiative’s effect on property prices two years earlier than scheduled.

In the five years since 7.56am on Monday 15 September 2008, when a judge put the UK arm of Lehman Brothers into administration, Tony Lomas has been unraveling the $1.1bn (£700m) of assets and liabilities inside the collapsed bank.

It isn’t very often that you can describe the world as being turned upside down, but for the moment that is exactly what is happening.

Campaigners have warned in recent weeks that debt is becoming a ‘way of life’ for some cash-strapped families, after official figures showed that consumer credit is expanding at its fastest rate since December 2008.

Errol Damelin, the chief executive of Wonga, has responded to recent criticism of the payday lender by stating that ‘[Wonga] is a powerful force for good in the financial world.’

This is a story that has hit the news over the last few months and continues to bubble.

Bankruptcies have reduced by 20.1% to 6,919 in the final quarter of 2012 from 8,658 in the corresponding quarter of 2011.

Around one in five of those retiring this year will have debt averaging over £31,000 according to recent figures issued by Prudential.

Forgive the summary of the agenda of Davos below, I feel it is important to put my article in context.