Four individuals have been charged in the District of Massachusetts with conspiring to deceive banks and credit card companies into processing more than $150 million in credit and debit card payments on behalf of merchants involved in prohibited and high-risk businesses, including online gambling, debt collection, debt reduction, prescription drugs, and payday lending, according to…
(Bloomberg) — Johnson & Johnson defeated an effort to stop it from using the so-called Texas two step bankruptcy strategy to rid itself of tens of thousands of asbestos poisoning lawsuits. U.S. Bankruptcy Judge Laurie Silverstein refused to block the consumer products giant from taking corporate restructuring actions related to its asbestos liabilities and indemnity…
MELBOURNE, Australia, Aug. 26, 2021 /PRNewswire/ — Although it is common to juggle a personal loan with a mortgage, credit card debt, and even perhaps another type of loan, such as a boat loan, managing multiple debts can become challenging over time. Consolidating these debts can seem like a quick fix that can help save…
The department said the for-profit chain steered students into predatory private loans that were portrayed as grants and also lied about the state of its finances. ITTs malfeasance drove financial resources away from educating students to keep the chain in business for longer than the department says it should have been, resulting in the decision…
A South West construction firm which went into liquidation leaving buildings unfinished has also left debts of more than 10m, it has been revealed. Henry W Pollard and Sons Ltd, which had been in business for 161 years, ceased trading in June 2021, leaving buildings such as Plymouths 13m Teesra House apartment block in limbo.…
Despite fears the pandemic would lead to mass businessfailures, the number of Australians running businesses has actually shot up. Key points: The Australian Bureau of Statistics reports an increase in the number of registered businesses during the pandemic Julie Kay says starting a business means she can set her own goals The Australian Restructuring, Insolvency…
California-based ML data pipeline company Splice Machine has begun insolvency proceedings, according to a statement on its website. The startup which counted bank Wells Fargo, retailer Kroger, and optical networking company Infinera among its customers specialised in building a database for feature engineering which it hoped would ease machine learning data pipelines. Based around Jupyter…
Satellite communications has always been a partly invisible affair. Once the satellites have been launched into space, they are forever lost to the eye in the distant darkness, unlike the terrestrial basestations that dot the land. Now one of their oldest operators is also going dark. Conceived when JFK sat in the White House, Intelsat…
Member Article The year-on-year level of corporate insolvency has risen for a third consecutive month, highlighting the continuing impact of the pandemic on North East businesses. The latest corporate insolvency figures for England and Wales reveal a 70.4% increase in Creditors Voluntary Liquidations in July compared to July 2020, suggesting an increasing number of directors…
On August 6, the National Company Law Tribunal (NCLT) had admitted an application filed by Techno for initiating corporate insolvency resolution process (CIRP) against McLeod. TopicsNCLAT|Techno Electric & Engineering|McLeod Russel The National Company Law Appellate Tribunal (NCLAT) has admitted an appeal filed by McLeod Russel promoter, Aditya Khaitan, against insolvency proceedings and will decide on…