Sir Philip Green is battling to rescue his Topshop empire from collapse and time is running out. The billionaires Arcadia group, which employs about 19,000 people, is desperate to secure a rescue restructure that will involve the closure of about 50 of the groups 570 British stores. If a deal cannot be agreed well before…
Committees of Creditors (CoCs) should provide all relevant information and share their vision for companies under the insolvency process, a senior official said on Saturday as he asserted that it will be dangerous to let viable firms to close down. Amid rising number of stressed assets being referred for resolution under the Insolvency and Bankruptcy…
Details of an ongoing scam within the Netherlands have been published by the Authority for Consumers and Markets (ACM). Reports suggest that the scam seeks to claim back non-existing gambling debts from Dutch consumers. The Authority has revealed that companies Bailiff Smits and Co, Inter Payment Service and Lootsma and Partners, are all involved as…
A business regulation agency based in The Hague has released information regarding a scam that claims fake gambling debts from consumers. Pressurizing people to pay The Netherlands Authority for Consumers and Markets (ACM) has namedLootsma and Partners, Bailiff Smits and CoandInter Payment Service as the collection companies involved in the scam, according to a report…
Related Story: Police allege Sydney Asian crime syndicate linked to Newcastle drug house Related Story: Police struggle to stop vast cannabis grow house syndicates Two men acting as crop-sitters after being leant on by loan sharks or debt collectors, are the latest to be jailed in Newcastle over drug…
Senator Elizabeth Warrens presidential campaign Friday released an interactive tool to help voters determine how much of their student debt would disappear under her ambitious proposal to cancel up to $50,000 in outstanding loans for college graduates in the red. The online calculator tool, on the Massachusetts Democrats campaign website, asks users to answer a…
By Roberta Kwok When a major recession hits, many consumers have the same thought: cut spending. Around them they see layoffs, plunging house prices, income stagnation, and a shrinking credit supply. Their collective belt-tightening fuels the economys downward spiral, leading to even more unemployment. Paul Goldsmith-Pinkham, an assistant professor of finance at Yale SOM, wondered…
SETL Ltd, the now London-based institutional payment and settlement infrastructure provider using blockchain technology, today announced the completion of its corporate restructuring plan. At the beginning of March this year, the previous entity, SETL Development Ltd (in administration), announced that it had appointed Quantuma LLP as its administrators. Under the direction of its CEO, Philippe…
Blockchain and settlement payments technology specialist SETL has announced the completion of its corporate restructuring and has exited administration. The firm appointedadministrators from Quantuma in early March to restructure its business lines after SETL was unable to supply sufficient capital to sustain its investments in the ID2S (a regulated central securities depository) and IZNES (a…
Image credit: Natee K Jindakum / Shutterstock Proper cash flow management is a key strategy that every business owner must master for long-term financial success. Managing cash flow can be one of the biggest challenges business owners face. A recent study from Intuit found that 61% of small businesses around the world struggle with…