Cathay Cineplexes enters voluntary liquidation amid creditor demands

Cathay Cineplexes, one of Singapore’s longest-standing cinema operators, is heading into creditors’ voluntary liquidation after failing to reach restructuring agreements with multiple landlords and creditors. Its parent company mm2 Asia announced on Monday (1 September) that Cathay Cineplexes had received statutory demands and claims from entities including DBS Trustee (as trustee of Lendlease Global Commercial…

HMRC chasing £90m in unpaid taxes after staffing firm Challenge rescued from insolvency

HM Revenue & Customs is seeking to recover about £90 million in unpaid taxes from temporary staffing business Challenge Recruitment Group, after the company was rescued from insolvency in an £18 million pre-pack administration deal. The US workforce platform swipejobs acquired Challenge’s core assets in July, taking over contracts with major UK clients including Tesco,…

How to deal with personal loan debt collectors? Here are 5 RBI-backed tips

Efficiently dealing with personal loan debt collectors can be stressful, but knowing your fundamental rights and responsibilities can make a huge difference.  The nations’ lending institutions and recovery agents must now follow strict guidelines and regulations laid down by the Reserve Bank of India (RBI) to ensure protection of borrowers from unethical collection practices, emotional…

Toward an “Aid Plus” Model

Image Source: un.org Global development in the contemporary epoch hinges on a delicate balance of financial flows. For developing countries, ensuring that more resources flow in than out is critical to sustaining growth and reducing poverty. Nonetheless, debt burdens, tax evasion and avoidance, and declining investment continue to challenge progress. The recent United Nations (UN)…