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Daily Archives: May 17, 2018

5 tips to get approved for a personal loan for debt consolidation – MyFoxZone.com KIDY

Debt HelpBy Insolvency GuardianMay 17, 2018

Is Bank of the Ozarks making overly risky loans? Getty Images If you need relief from your high-interest loans or credit card debt, you may be considering a personal loan. Offered by many banks and credit unions, personal loans let you consolidate or refinance your debt into a lower-interest loan with one fixed monthly payment.…

Sports training academy offering ‘rip-off’ courses collapses owing $5 million – The Sydney Morning Herald

LiquidationBy Insolvency GuardianMay 17, 2018

A former FC 11 employee claims the sports academy targeted students who “werent smart enough for university and not good enough to play professional sport”. “It was a sham. The entire business was leveraged on government grants, and when the government turned off the tap, the bottom fell out.” FC 11 purchased a licence to…

Enbridge to consolidate assets in $11.4-billion restructuring – The Globe and Mail

RestructuringBy Insolvency GuardianMay 17, 2018

Enbridge Inc. announced a restructuring plan Thursday that would see it offer $11.4 billion in shares to co-investors in four affiliated businesses, in order to offset risks caused by the loss of a U.S. tax allowance for certain interstate pipelines. If the series of transactions unfold as anticipated, investors in all the companies and limited…

5-Star says coalition debt plan can help Italy respect fiscal compact – Reuters

Debt HelpBy Insolvency GuardianMay 17, 2018

ROME, May 17 (Reuters) – A proposal by the 5-Star Movement and the far-right League to exclude government bonds held by the European Central Bank from countries debt calculations can help Italy meet European rules on debt reduction, a 5-Star lawmaker told Reuters on Thursday. A draft policy agenda drawn up by the two parties…

NuMetal offers Rs 37000 crore for Essar Steel, wants 2nd round of bids opened – Business Today

LiquidationBy Insolvency GuardianMay 17, 2018

Russia’s VTB Capital-based NuMetal Ltd today told the company law appellate tribunal, NCLAT, that it has offered over Rs 37,000 crore for Essar Steel in the second-round of bidding, which should be opened and the highest bidder be selected from it. ArcelorMittal, the only other bidder to have put in a bid for Essar Steel…

Mother accused of kidnapping granted bail – Brisbane Times

BankruptcyBy Insolvency GuardianMay 17, 2018

The mother allegedly disappeared after the collapse of her marriage, which happened about the time she was declared bankrupt. The court heard she vanished during a custody dispute, and believed the girls were being abused by their father. There was no evidence to support that claim, the court heard. Since the woman was located, the…

NuMetal offers Rs 37000 cr for Essar Steel, wants 2nd round of bids opened – Moneycontrol.com

LiquidationBy Insolvency GuardianMay 17, 2018

Russia’s VTB Capital-based NuMetal Ltd today told the company law appellate tribunal, NCLAT, that it has offered over Rs 37,000 crore for Essar Steel in the second round of bidding. The company added that the second round of bidding should be opened and the highest bidder be selected from it. ArcelorMittal, the only other bidder…

Pacific Radiance commences court led restructuring – Splash 247

RestructuringBy Insolvency GuardianMay 17, 2018

May 17th, 2018 Jason Jiang Asia, Offshore 0 comments Singapore offshore vessel operator Pacific Radiance has announced its intention to pursue a restructuring through the courts via a scheme of arrangement. In order to preserve the proposed restructuring, Pacific Radiances wholly owned unit Pacific Crest had made applications to…

Father of boy ‘kidnapped for ransom’ denies he has gambling debt – 9news.com.au

GamblingBy Insolvency GuardianMay 17, 2018

The father of a boy allegedly kidnapped for ransom from his Gold Coast home on Friday has denied he has gambling or business debts. The man, who cannot legally be identified, today told 9NEWS he had been prepared to pay the ransom demanded. In China I already prepared the money to pay a ransom. I…

Mothercare to close 50 stores in restructuring and refinancing plan – Financial Times

RestructuringBy Insolvency GuardianMay 17, 2018

Jonathan Eley and Naomi Rovnick in London May 17, 2018 Print this page Struggling childrens goods retailer Mothercare has become the latest UK high street chain to agree a lifeline deal with its creditors as the consumer downturn and the rise of online commerce piles the pressure on traditional shops. Following similar moves by floorings…

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