Appointments Draft rules and regulations Following the establishment of the Insolvency and Bankruptcy Board of India, the government has taken two concrete steps to expedite the implementation of the Insolvency and Bankruptcy Code 2016 in particular, the government has: appointed members to the Insolvency and Bankruptcy Board; and released draft rules and regulations.…
Debtor cases fell across half the country’s regional areas. Despite significant rises earlier in the year, personal and business-related insolvencies in regional areas remained stable during the September quarter. The Australian Financial Security Authority (AFSA) has released regional personal insolvency statistics for the September quarter 2016. Personal insolvency cases fell across half of the country’s…
Introduction Risks associated with sale of distressed businesses Securing sale of distressed businesses Introduction With standard M&A policies in mind, the risks associated with distressed businesses are often considered from the purchaser’s perspective, rather than the seller’s. From the seller’s viewpoint, the sale of a distressed business is legal and considered to be without no…
ANZ has disclosed it will book charges totalling $360 million against its full-year after-tax profit, a week ahead of releasing its annual results. The bank said its financial results will include a $168 million charge against revenue of its institutional markets business, after it changed the method of valuing derivative instruments. It will take another…
Oct. 27, 2016 6:23 p.m. ET Federal and state investigators are intensifying their scrutiny of businesses connected to Howard Dvorkin, a prominent advocate for consumer-debt relief. Mr. Dvorkin is the founder and former president of Consolidated Credit Counseling Services, a nonprofit in Fort Lauderdale, Fla., that advises borrowers on how to reduce their debts. He…
Your job affects more than just what you do all day and how big your paycheck is. It can also influence your ability to repay your student debt. Thats because borrowers in certain careers are especially good candidates for student loan refinancing. Refinancing student debt allows qualified borrowers to get lower rates and has grown…
Campaigners are calling on the UK to prevent vulture funds from using British courts to pursue the debts of poor countries after it emerged that Mozambique could be the first in a wave of states facing a new debt crisis sparked by the commodity price crash. Mozambique, one of the worlds fastest growing economies for…
Embattled childrens retailer Pumpkin Patch has collapsed, with receivers appointed for the company and its subsidiaries yesterday. Last week the business, listed on the New Zealand stock exchange, entered a trading halt while it started conversations with stakeholders about how to proceed with its $NZ46 million ($40.7 million) in debts, with a meeting with its…
Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar have topped the young rich list yet again. Picture: Kelly Sullivan AUSTRALIAS richest young guns are worth a combined $12.3 billion and counting. And if youre hoping to join their ranks, one industry lays claim to the largest number of wealthy up-and-comers. Tech start-up unicorns are now worth…
The number of people going insolvent across England and Wales is expected to increase in official figures released on Friday. Experts have suggested the days of falling personal insolvency levels may be coming to an end as consumers grapple with underlying debt problems. Official figures for the third quarter of this year, which will be…