Debt consolidation is the conversion of high-rate debt into lower-rate debt in order to reduce total interest costs. Homeowners with large amounts of credit card debt who have unused borrowing power on their home have a consolidation option. Whether or not it is in the homeowners long-run interest to exercise the option, however, turns out…
Background The UKs place as a leading centre for corporate restructuring is under threat. Singapore and the EU are becoming increasingly competitive. Although the UK is ranked 7th in the world by the World Bank for ease of doing business, it is 14th for resolving insolvency, behind Puerto Rico, Slovenia, Belgium, Canada, and Iceland. Another…
BOSTON – Federal authorities said a $40,000 gambling debt led a Boston man to help kidnap a Quincy victim, beat him, and extort him for cash. Kim Nguyen, 25, pleaded guilty Wednesday to federal charges of kidnapping, conspiracy to collect extensions of credit by extortionate means, and operating an illegal gambling business. Nguyen is scheduled…
Shilpi Cable Technologies Limited informed the exchanges that the resolution plan submitted by the resolution applicant was put up for the approval of the committee of creditors (CoC) in the Fifteenth CoC Meeting of Shilpi Cable Technologies Limited, in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder. On…
Max Brenner has been saved at the last minute by Australian investment office Tozer & Co. The dessert chains future was thrown into question earlier this month when it entered voluntary administration. It was then announced that 20 of the brands 37 Australian stores would be closed. Advertisement However, appointed liquidators BDO Australiaissued a statement…
While a corporate entity may have creditors, debtors and assets in various countries, the Insolvency and Bankruptcy Code, 2016 (IBC), in its current avatar has no comprehensive legal framework on cross-border insolvency (CBI). The Ministry of Corporate Affairs on 20 June 2018 issued a public notice inviting comments on a draft chapter on CBI, which…
Casa de Insolventa Transilvania, one of the biggest insolvency management firms in Romania, will open its first office outside the country in Cyprus, an emerging market where the insolvency practitioner profession only started to be officially recognized 2 years ago. The European insolvency market needs a complex multidisciplinary approach and the integrated product that the…
[embedded content] COLORADO SPRINGS Walking across the stage, receiving a diploma and finishing college for many, its supposed to signify the end of years of education and the beginning of a professional life. Theres just one problem: student loan debt. We have a big problem. Student loan debt is now about $1.5 trillion in the…