British households are increasingly struggling with problem debts, according to alarming official figures, in the starkest indication yet of the UK slipping into the red. Government statistics for England and Wales show applications for individual voluntary arrangements (IVAs) a means of managing personal debt reached their highest level since they were introduced in 1987.The spike…
Coimbatore, Oct 27: The time taken and costs involved in resolving disputes has crippled the entrepreneurial community in India. Statistics show that the recovery is only 20 per cent in India and in global ranking, the country is ranked in the 136th position with respect to the time taken for resolving disputes. China is in…
THE winding down of the defunct Interfin Bank (pictured) is facing new hurdles amid revelations a local property firm is suing the banks liquidator and prominent lender Jayesh Shah who is holding onto title deeds of the plush Golden CT housing project, it has been established. By Bernard Mpofu Equity Properties has slapped Shah with…
Company adjusts full-year guidance PLANO, Texas – (Oct. 27, 2017) – J. C. Penney Company, Inc. (NYSE:JCP) today provided a preliminary update on its expected third quarter performance, following actions taken during the quarter to accelerate the liquidation of inventory. The Company’s fiscal third quarter ends Oct. 28. “Based on the encouraging results…
Applications have been invited from corporate entities for submission of resolution plan for the debt-laden Jaypee Infratech under the insolvency law, according to a public notice. The National Company Law Tribunal (NCLT) has admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code. Moving ahead with…
A UK based organisation that offers free debt advice to people in Ireland may be in contravention of Irish law by calling itself a charity when it has not yet been registered as a charity in Ireland. StepChange Debt Charity Ireland, a subsidiary of a UK registered charity, started offering free debt advice to Irish…
Consultation on Individual Insolvency and Rights and obligations of MSMEs held at Ludhiana New Delhi, Oct 27 (KNN) Eyeing at strengthening the Insolvency and Bankruptcy Code (IBC) framkework, the Insolvency and Bankruptcy Board of India (IBBI) organised a stakeholder consultation on Individual Insolvency Rights and obligations of Micro, Small and Medium Enterprises (MSMEs) owners,…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees pensions when a company goes bankrupt. While theres no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private members bills on the subject, put forward by a New Democrat MP…
Some debt-ridden NRL players have found themselves in so deep that they owe more money in gambling repayments than their massive contracts are worth, the head of the NRL match fixing probe says. And although Strike Force Nuralda failed to uncover any truth to match rigging allegations relating to four NRL games in 2015 and…
The crunch by-election in the state seat of Northcote is getting nasty with one candidate saying her recent past of marriage breakdown and domestic violence has been dredged-up in an attempt to damage her chances. The Greens say the story of their candidate Lidia Thorpe’s bankruptcy four years ago was being “shopped around” Melbourne media…