On Thursday the Congressional Black Caucus PAC, with a 20-member board including 11 lobbyists, 7 elected officials, and 2 people who work for the PAC, endorsed Debbie Wasserman Schultz. The CBC-PAC is the political arm of the Congressional Black Caucus. If this is supposed to mean black folks have confidence in Debt-Trap Debbie, the CBC-PAC,…
BASIC FLAW:Unwittingly the Code, as it is, would facilitateease of undoing business. The government has brought in this Code, largely modelled on the U.S. Bankruptcy Law, with the good intention of facilitating timely resolution of corporate bankruptcy. However, a critical reading of the legislation reveals that unless necessary changes are made to it, the legislative…
MACAU Casinos in Macau face a growing volume of bad debt provisions, further hitting earnings in the worlds largest gambling hub as high-roller VIP gamblers are retreating. Chinas slowing economy and a pervasive campaign against graft has sapped demand from wealthy gamblers and prompted operators in the southern Chinese territory to shift their focus to…
Practitioners have welcomed a proposed shakeup of the UKs corporate insolvency regime which would introduce a three-month moratorium on pursuing legal action against struggling businesses looking at rescue options. Measures are also proposed to help businesses continue trading through the restructuring process by preventing them from being ‘held hostage by key suppliers, and to develop a…
Fianna Fáil is calling for amendments to the personal insolvency legislation. The party has said the law is not fit for purpose and must be changed to put home owners first. The call comes as new figures show just 4 review applications were approved by Insolvency Service of Ireland – since it was granted limited…