One of the largest auctions of heavy construction machinery this year will take place in the coming weeks as the receiver of three companies in the McCormick Macnaughton Group sells off all the psychical assets of the firms.

Figures released by InsolvencyJournal.ie reveal that insolvencies increased by over a fifth for the first seven months of the year and are up 150% on the 2008 figures. Four companies a day went bust in the first seven months of the year and the number of corporate failures so far this year has already exceeded the yearly total for the whole of 2008 when 773 failures were recorded.

Few people in Ireland would have heard of low-profile civil servant Chris Lehane before this month. Lehane is the Official Assignee in bankruptcy – a court appointed official who is put in charge of the property and assets of bankrupt individuals.

New statistics released today by InsolvencyJournal.ie reveal that the number of insolvencies recorded in the first half of 2010 has increased by 27 per cent

InsolvencyJournal.ie said there were 112 insolvencies recorded in May, down 26% from the 2010 high of 151 recorded in February.

THE NUMBER of insolvencies fell for the third consecutive month in May, although the rate of insolvencies is still 25 per cent higher than the same period last year, new data shows.

For the second year running, Kavanagh Fennell has scooped the Grad Ireland Best SME Recruiter award.

Four businesses went bust every day in April, according to InsolvencyJournal.ie, a website run by Dublin insolvency firm Kavanagh Fennell.

The number of insolvencies rose by 25% in the first three months of 2010 compared to the same time last year. New figures from Insolvencyjournal.ie says the number of cases rose from 320 to 402.