David Lynch, Bartlett, New Hampshire Social worker David Lynch recalls hearing a radio commercial a few years ago from a company that promised student loan forgiveness for people like him employed by nonprofits. Lynch, 39, decided check on the companys credentials. I did try to do a Google search, he says, but there really werent…
The Project had a light hearted jab at the woes of its broadcaster Channel Ten going into administration as it read the headlines. Courtesy: Network Ten THE hosts of The Project have poked fun at todays news its broadcaster Network Ten has been placed into voluntary administration after its billionaire backers walked away. Host Carrie…
Billionaire media owner Bruce Gordon and News Corporation scion Lachlan Murdoch have joined their holdings in the Ten Network, in a play that could ultimately see the pair take the business out of administration and into private hands. In a change of substantial holding notice to the ASX, Mr Gordon’s investment vehicle Birketu, which…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. The resignation from NSW Labor of rising star, 2016 Senate candidate and gold trader Simon Zhou, comes as respected…
As the business environment gets tougher, more companies are being forced to borrow heavily, which in turn puts them at risk. Accessing credit has become easier for businesses and when used smartly, this can be used to boost operations. However, startups and small businesses always find themselves struggling with debt when revenues dwindle. Many businesses…
The Reserve Bank of India (RBI) directing banks to initiate insolvency proceedings against 12 shortlisted companies under the Insolvency and Bankruptcy Code (IBC) that have fund/non fund exposure of above Rs 5,000 crore where 60 percent or more has turned bad is a welcome sign for Indias crisis-ridden banking sector. These accounts account a quarter…
Student loan counselor Taunya Kennedy knows what its like to be overwhelmed by debt. The 45-year-old single mother has a mortgage and credit card balance, and still shoulders her own college loans after years of postponing payments. On top of working full time for the nonprofit credit-counseling agency Money Management International, Kennedy earns extra income…
FRANKFURT (Reuters) Governments could help euro zone banks reduce their huge bad debt holdings by backing so-called bad banks that could purchase non-performing loans, European Central Bank Vice President Vitor Constancio said on Wednesday. As the euro zones market for bad debt is small and illiquid, bad banks or asset management companies (AMC) could correct…
The Reserve Bank of India (RBI) on Tuesday said it has shortlisted 12 cases which could be immediately referred for bankruptcy proceedings. It also laid down criteria to compel banks to invoke the insolvency code to solve Indias Rs10 trillion stressed assets problem. In an email interview, M.S. Sahoo, chairman of the Insolvency and Bankruptcy…
DOORS SHUT: The former premises of Spectrum Window Fashions on Havannah Street. A BUSINESS owned by former Bathurst mayor Gary Rush has gone into voluntary liquidation owing money to the Australian Tax Office and some suppliers. Chris Chamberlain of Chamberlains SBR has been appointed liquidator for Spectrum Window Fashions Pty Ltd after a general meeting of the…