London CNN — Harland & Wolff, the 163-year-old firm that built the Titanic, has declared itself insolvent after failing to secure funding to continue trading. The loss-making UK shipbuilder said Monday that it would likely begin administration proceedings in the coming days. Administration provides a way for companies in the United Kingdom to restructure when…
The Technical University of Kenya (TUK) has officially been declared financially insolvent by the National Assembly, as fresh revelations expose deep-rooted mismanagement and a staggering Sh12 billion debt burden that has crippled the institution. This comes amid shocking disclosures that no employee at TUK has received a full salary since 2013, the same year…
Part 1: A Broad Overview of Bankruptcy ‘As privileged professionals, who live by the words of the English language, lawyers have a special duty to be clear in what they say and write’[1] When discussing any area of law, precision is essential. A common source of confusion amongst both lawyers and the public generally is…
ORLANDO, Fla. — Thousands of Central Floridians are about to find out that their medical debt has been wiped away. Members of the Orange County Board of County Commissioners announced that letters are going out now to people who qualified to have their medical debt cleared. What You Need To Know Some residents of Orange County…
Bankrupt landlord received £25,000 Covid loan despite pub closing six months before pandemic MSN Read the original article here
The school district in Arkansas’ largest city is asking for help to pay off school lunch debt. At a press conference this week, Little Rock School District Superintendent Jermall Wright said the district’s nutrition department has few resources to bridge the gap between school budgets and unpaid student lunch debt. Stephanie Walker Hynes is a…
By Sydney Price ( May 2, 2025, 7:07 PM EDT) — An Illinois federal judge has ordered the former owner of a defunct debt-relief provider to pay more than $43 million in restitution and penalties to settle claims that the firm preyed on student loan borrowers…. Law360 is on it, so you are, too. A…
A bankrupt landlord has been handed a suspended sentence after he “took advantage” of a taxpayer-backed Covid loan scheme by applying for tens of thousands of pounds – despite his pub closing before the pandemic. Gary Wright, 46, was given a £25,000 bounce-back loan on behalf of his Talbot Ale House in St Helens, Merseyside,…
The Supreme Court’s decision to liquidate Bhushan Power and Steel is likely to have an impact on the company’s lenders, led by State Bank of India (SBI) and Punjab National Bank (PNB), and the insolvency process. The SC order has cast a shadow on other bankruptcy cases as the total admitted claims under the Insolvency…
NEW DELHI: Supreme Court on Friday quashed the acquisition of bankrupt Bhushan Power & Steel Ltd by JSW under the Insolvency and Bankruptcy Code and ordered liquidation of the debt-ridden company, in a blow to the Sajjan Jindal-led group and public sector banks, reports Amit Anand Choudhary.The court said there were multiple violations of law…