More and more Australians are falling into the vicious cycle of debt according to research released by The Salvation Army. The data shows that those on the brink of financial crisis have accrued $2.55 of debt for every dollar earned. Thats a debt-to-income ratio of 255 per cent. Comparatively, the average Australian household has a debt-to-income ratio…
BALTIMORE, Md. – A student loan debt relief company is being told they’re not allowed to do business in Maryland. Maryland Attorney General Brian Frosh announced that the Consumer Protection Division issued a cease and desist order against Student Loan Counsel. The California-based company must cease any unlawful conduct in Maryland, return all money collected from…
A director faked his own death in an effort to avoid disqualification from running companies, the Insolvency Service has said. Bradley Trevor Silver, also known as Bradley Silva, is still being sought by the government agency after its lawyers were told he had taken his own life. The 49-year-old was disqualified from acting as a…
We have lost all that money can buy and replace, said Roosevelt Skerrit, the prime minister of Dominica, where 98 per cent of the buildings are damaged. Dominica is already heavily indebted, and the IMF IMFInternational Monetary Fund Along with the World Bank, the IMF was founded on the day the Bretton Woods Agreements were…
By: ENS Economic Bureau | Kolkata | Published:October 18, 2017 2:20 am According to sources, Kunal Banerjee proposed to start liquidation process as the committee rejected resolution plans prepared by the Kolkata-based firm. The Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday ordered liquidation proceedings against Nicco Corporation after its lenders voted…
Profits have reduced to a level where the combination of rent, annual interest payments of around £55m and maintenance bill of £24m are unsustainable when compared to the earnings generated by the business. Terra Firma has written off its entire investment in Four Seasons, although after the proposed restructuring would still own 80pc of the…
By M R Umarji Recently, the Delhi High Court blamed public sector undertakings for resorting to litigation with public money challenging arbitration awards. Such arbitration awards normally relate to assessment of the work completed for which a payment is to be made to the contractor or other enterprises undertaking infrastructure projects or other work. Public…
A Nevada judge said Monday that a lawsuit pitting high-stakes poker player Matt Kirk against Czech casino owner Leon Tsoukernik can proceed. Per a report from the Las Vegas Review-Journal, the local judge said that the $2 million gambling debt is unenforceable, but Kirk, an Australian, could be entitled to damages if he can prove…
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Parliamentary banking group heavily criticises RBS chief executive Ross McEwan for what it describes as offensive comments relating to businesses placed in its former restructuring group. Ministers have slammed RBS chief executive Ross McEwan for what they describe as an extraordinary outburst against business owners in light of pressure for details of the banks former…