This article looks at several strategies that when used in combination with your clients advice will allow their debt to work more effectively and help them achieve their financial independence earlier than planned. Accessing equity If the value of a clients property has increased then refinancing can unlock this equity to access funds for a…
Convicted forger Peter Chan Chun-chuen has been declared bankrupt for failing to pay HK$28.4 million (US$3.6 million) in legal fees owed to the charitable foundation of late tycoon Nina Wang Kung Yu-sum after the civil suit that determined he had faked her will. Madam Justice Linda Chan Ching-fan on Thursday granted a bankruptcy order petitioned…
Centrelink and debt collectors working on behalf of the Australian government have been chasing people to pay back millions in welfare money allegedly overpaid to them during the COVID-19 pandemic. Key points: Centrelink is pursuing 11,000people to repay $32m in debts they accrued due to getting both JobSeeker and JobKeeper There are allegations of double…
President Ramnath Kovind has given his assent to the Insolvency and Bankruptcy Code (amendment) Bill 2021, which was passed by the Parliament in the recently concluded monsoon session. This enactment will now provide the statutory backing for the pre-packaged insolvency resolution process (Pre-Pack) regime for companies classified as micro, small and medium enterprises (MSMEs). The…
It was pointed out that the settlement amount accepted by banks is even lower than the liquidation value of Siva Industries NCLT Chennai has rejected the one-time settlement offer made by Siva Industries and ordered that the company will go into liquidation. The NCLT Chennai Bench, comprising R. Sucharitha and Anil Kumar B., said in…
By law, Canadian homeowners are required to refinance their mortgages every five years. But there is no limitation to how often you can refinance, and there are many good reasons not to stick to the five-year interval – for example, many homeowners opt to refinance every time interest rates drop to secure lower payments and…