April 19, 2016 - Insolvency Guardian

Multimillion-dollar product development company E3 Style falls into voluntary administration – SmartCompany.com.au

LiquidationBy Insolvency Guardian April 19, 2016

An award-winning product development company that has been operating for 10 years has collapsed into voluntary administration. E3 Style, which is still trading, called in external managers on April 15, with Domenic Calabretta from Mackay Goodwin appointed voluntary administrator. A creditors meeting is scheduled for April 28 in Brisbane. E3 Style has designed and made private-label…

Lawsuits loom for Lehigh fraternity managers after alleged thefts – Allentown Morning Call

BankruptcyBy Insolvency Guardian April 19, 2016

Civil lawsuits will soon follow federal charges that a Bucks County man and his late wife conspired to steal nearly $1.5 million in room and board payments from Lehigh University fraternities and sororities that paid the couple to manage their money, but instead spent it on a lavish lifestyle. Organizations seeking to recover some of…

Students in Canada, US face growing debt. Here’s help – Advisor.ca

Debt HelpBy Insolvency Guardian April 19, 2016

Student debt in the U.S. is reaching new heights. In 2015, student loan debt was $1.2 trillion, compared to $0.2 trillion in 2003, reports the Centre for Retirement Research at Boston College. Further, U.S. student loan debt now accounts for more than 30% of total household non-mortgage debt, surpassing credit card debt in 2011, notes the study. U.S. grads…

Help Me, Harlan!: Grad considers going $160000 in – TwinCities.com-Pioneer Press

Debt HelpBy Insolvency Guardian April 19, 2016

Dear Harlan: My boyfriend and I have been dating since the end of freshman year, and now were both about to graduate. He received a major scholarship to an expensive school that happened to be one of my top choices before he was even thinking of going there. I would love to go there for…

EMRISE CORPORATION Announces Second Liquidation Distribution to Stockholders – EconoTimes

LiquidationBy Insolvency Guardian April 19, 2016

WOODBRIDGE, N.J., April 19, 2016 — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), announced today that it has instructed its paying agent, VStock Transfer, LLC (Paying Agent), to begin the process of sending the previously announced second liquidation distribution of $0.36 per share (the Distribution) to its stockholders…

EMRISE CORPORATION Announces Second Liquidation Distribution to Stockholders – GlobeNewswire (press release)

LiquidationBy Insolvency Guardian April 19, 2016

WOODBRIDGE, N.J., April 19, 2016 (GLOBE NEWSWIRE) — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), announced today that it has instructed its paying agent, VStock Transfer, LLC (Paying Agent), to begin the process of sending the previously announced second liquidation distribution of $0.36 per share (the Distribution) to…

Bankruptcy law will help develop bond market: RBI – Economic Times

LiquidationBy Insolvency Guardian April 19, 2016

MUMBAI: Expecting the proposed enactment of Bankruptcy Act to be a “defining event”, RBI Deputy Governor HR Khan said the law will help develop corporate bond market in India. “Enactment of the Bankruptcy Act will be a defining event as regards the development of the corporate debt market,” he said at the 17th Annual Conference…

Seventy Seven Energy Inc. Enters into Restructuring Support Agreement – Business Wire (press release)

LiquidationBy Insolvency Guardian April 19, 2016

OKLAHOMA CITY–(BUSINESS WIRE)–Seventy Seven Energy Inc. (the Company), today announced that it has entered into a Restructuring Support Agreement (the Agreement) with certain lenders (the Incremental Term Loan Lenders) representing 92.0% of the outstanding principal amount under the Companys Incremental Term Supplement (Tranche A) loan and certain noteholders (the Consenting 2019 Noteholders) collectively owning or…

Judge overturns rejection of debt write-off – RTE.ie

BankruptcyBy Insolvency Guardian April 19, 2016

The first case of a heavily indebted borrower overturning the veto of a bank which had blocked their ability to get a debt write-off through insolvency has proceeded through the courts. The individual had 2.8m of debt and secured a write-off of half of their borrowings. The individual will be able to retain the family…

Insolvency Service reports 16% rise in applications in Q1 – Irish Times

BankruptcyBy Insolvency Guardian April 19, 2016

Some 570 people applied for debt relief during the first quarter of the year, an increase of 16 per cent on 2015, according to figures from the Insolvency Service of Ireland, as experts suggest a deluge of deals will now be done. There were 570 applications, representing total debt of 303 million, for debt relief…

Daily Archives: April 19, 2016