GOODBYE credit boom, hello insolvency limbo. In June, precision- engineering firm CW Advanced Technologies became the latest issuer to seek a court order to stave off creditors, after its plan to re-tap the bond market to redeem its first series of notes got quashed by poor market sentiment. Since November 2015, at least 13 issuers…
Related Story: Photographer Steve Parish helps others with mental illness In the 80s and 90s he was the man whose iconic Australian photographs graced postcards and calendars around the world. He did as much for Australian tourism as Paul Hogan, Steve Irwin and crocodiles combined. He ran a multi-million-dollar business and…
Hoping to use the winnings to repay his debts, a man placed bets on World Cup soccer matches, but ended up losing $8,000 in a week instead. The 44-year-old private-hire vehicle driver placed bets on nearly every match, despite being reportedly unclear on the details of the matches or the teams, reports Lianhe Wanbao. He…
Stoke-on-Trent has been identified as the debt capital of England and Wales, according to new official figures. The Midlands city had the highest rate of personal insolvencies in 2017, followed by Plymouth, Hull and Scarborough. The former industrial centre famous for its potteries and pinpointed as a Brexit heartland, recorded an insolvency rate of 44.8…
HAUPPAUGE, N.Y.–(BUSINESS WIRE)–Vicon Industries, Inc. (OTCQB: VCON) today announced that the company is implementing a restructuring plan to improve the overall operating efficiency and performance of its business. These efforts are aimed to position the company for long term growth and profitability. The Company is taking several steps including reducing overhead expenses, consolidating operations, and…
ROHNERT PARK, Calif., July 13, 2018 /PRNewswire/ — It’s a fantasy many student loan borrowers will not allow themselves the joy of entertaining: waking up one day to find that their student loan is gone, canceled, wiped away or forgotten. The extra money freed up and the peace of mind that comes with a life free of…
American higher education holds great promise: Thanks to easy-to-obtain loans, students can spend years studying just about whatever they want. But theres a catchbankruptcy rules make it almost impossible to default on these loans when students get in over their heads. Given spiraling tuition costs, this leaves millions of people deep in debt for decades,…
New legislation that would legalize sports betting has raised concerns about increased gambling addiction. An estimated nine million Americans are believed to suffer from the disease. (Photo by Lyu Jia/VCG) PHOENIX Another football game hadnt gone Joe Schillers way, and the thousands of dollars of debt he had accumulated from betting was about to bury…
By PTI NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) today asked the resolution professional (RP) of Jaypee Infratech to submit details on the progress of the insolvency resolution process of the debt-ridden firm. A two-member bench of the appellate tribunal, headed by Chairman Justice S J Mukhopadhaya, has asked the RP to list…
Graeme Boyd Motorcycles goes into liquidation NEWCASTLE motorcycling identity Graeme Boyd says market conditions are to blame for the liquidation of the business he has run under his own name for more than 20 years. Mr Boyd, who has also been an enthusiastic promoter of moto-cross events in the Hunter over the years, said that if there…