Democratic senators say a provision in the $1.9 trillion stimulus package signed by President Joe Biden last week paves the way for him to cancel student debt for a broad swath of borrowers. As part of the law, borrowers who have any student debt cancelled through the end of 2025 wont face a tax bill…
Losing all her money taught Kerry who her real friends are (Picture: Bailey-Oscar) Kerry Katona, 40, has been on more roller coasters financially than a week at Alton Towers. As a founding member of chart toppers Atomic Kitten and a winner of Im A Celebrity she has made millions but also been declared bankrupt twice.…
Businesses have been hit hard this year by the pandemic, with many stores closing every week. Bankruptcy has been on the rise as the economic toll continues to affect almost every industry. Here in the Upstate, stores we used to visit to often such as Brooks Brothers, Belk and Stein Mart are now going through…
Nokia on Tuesday said it plans to slash up to 10,000 jobs over the next two years as it forges ahead with a corporate restructuring. The layoffs are part of a cost-cutting effort that will help free up funds for investments in research and development along with 5G and other projects, the Finnish telecom giant…
March 16, 2021 08:00 ET | Source: Luckin Coffee Inc. Noteholders are Expected to Receive Approximately 91-96% of the Par Valueof the Existing Notes Luckin Coffee Maintains Strong Liquidity Position and Continues to Execute on Growth Strategy Company Actively Pursuing Several Options to Achieve Certainty of Funding BEIJING, March 16, 2021 (GLOBE NEWSWIRE) — Luckin…
The past year has fractured our world in countless ways. Now, as people look to pick up the pieces, those managing debt need to account for their position in our uneven economic recovery. In this so-called K-shaped recovery, one part of the population is rebounding quickly while another has a longer, slower path. For example,…
Member Article Businesses have been given much needed breathing space during the Covid-19 pandemic with the governments extension of insolvency measures until 2022. Mitchell Charlesworth corporate recovery partner, Jeremy Oddie, and associate, Julie Webster, discuss the announcement. The government announced that it is extending the powers it has under the Corporate Governance and Insolvency Act…
According to an EY letter dated December 29, the scope of work included contingency planning analysis that would estimate a range of what return financial creditors may get from the sale of Arriums assets. It was my understanding it was a tool to be used in negotiations with lenders, Mr Bakewell told the court. To…
The Australian operations of Greensill Capital officially ceased at 5pm yesterday, raising questions about impacts to Australian agricultural companies which accessed supply chain finance through firm. It is understood Greensill Australia employed about 40 staff, based mainly in Sydney, who were advised of their retrenchments with immediate affect yesterday. Parent company Greensill Capital filed for…
Its been a whirlwind year for Australian swimwear brand Jets. In May last year, when its former parent group PAS went into voluntary administration, its future was up in the air. But within three months, rival brand Seafolly acquired it and by the end of year, Jets had relaunched online. Here we chat with Jets…