The government has moved to tighten the rules around director resignations in a bid to crack down on backdating and company abandonment. With the wheels of the legislature moving again this week, the returned Coalition government yesterday introduced half a dozen reforms into parliament aimed at tackling the black economy. Under reforms tabled in the…
NEW YORK (Reuters) – A federal judge said New Yorks attorney general may pursue a lawsuit accusing Debt Resolve Inc and nine other defendants of involvement in a scheme to induce thousands of struggling student loan borrowers into paying for debt relief services they could have gotten for free. U.S. District Judge Alison Nathan in…
Repeated warnings about a tsunami of home repossessions – long threatened, but yet to arrive – has raised doubts about the scale of this legacy problem from the decade-old economic crash. At the time of the financial crisis there were 700,000-odd mortgages with outstanding debt of about 110 billion on the countrys books. More than…
India plans to enact a cross-border insolvency law and take steps to make bankruptcies of individuals easier as part of reforms aimed at speeding up the resolution of stressed assets, according to the governments Economic Survey for 2018-19. The cross-border insolvency law will not only provide a transparent and predictable mechanism to deal with issues…
(This July 3 story has been refiled to give more approximate figure in paragraph 16) By Valentina Za MILAN (Reuters) How do you value a bank loan on the brink of default in an economy flirting with recession? As it prepares to commit to buying billions of euros of such loans in Italy by mid…
Illustrative photo: fantasista / FreeDigitalPhotos.net CRIF analyst Vra Kamenkov told the Czech News Agency that the number of personal bankruptcy petitions is increasing due to the amendment of the Insolvency Act, which came into force in early June and allows for a wider group of people to qualify. The amended law aims to make the…
(Gives more approximate figure in paragraph 16) * Italian banks trying to offload unlikely to pay loans * Hedge fund DKCM in talks to take on some from Intesa * Deal could herald others, vital to restoring banks health By Valentina Za MILAN, July 3 (Reuters) – How do you value a bank loan on…
Briefing highlights Insolvencies on rise Global markets tame so far New York closed for Independence Day Canadian dollar at about 76.5 cents What to watch for today Required Reading Insolvencies on rise More Canadians are finding they cant juggle their finances. Insolvencies among consumers rose in May to 12,375, up 5 per cent from April…
The corporate insolvency resolution process yielded a resolution of 94 cases till March 31 New Delhi: The corporate insolvency resolution process yielded a resolution of 94 cases till March 31 which has resulted in the settlement of claims worth Rs 173,359 crore, according to the Economic Survey 2018-19 tabled by Finance Minister Nirmala Sitharaman in…
According to a newly-published report almost half of adults are currently in debt and owe an average of 6,465. But while credit cards and general overspending are responsible for this debt in some cases, it would seem the spiralling costs of paying for basic living is the most common reason adults are getting into financial…