After more than a decade of economic recession, Puerto Rico is broke. The governor of the island, Ricardo Rosselló, announced on May 3, that he filed for a bankruptcy-type protection, as established by Title III of The Puerto Rico Oversight, Management, and Economic Stability Act, known as PROMESA. Congress and President Obama approved this law…
The liquidator for Property Ventures alleged PwC helped the firm dodge insolvency. Photo / 123RF PwC advised Property Ventures (PVL) on ways to continue trading when by some accounts it was insolvent while at the same time giving David Henderson’s failed property development company a clean bill of health as statutory auditor, the liquidators allege.…
Greece is “closer than ever” to reaching a deal with its international lenders that will help ease its debt mountain, Prime Minister Alexis Tsipras said on Tuesday. “We are closer than ever to a substantial solution on debt relief and the solution has to do mainly with our lenders’ clear obligation,” Tsipras told reporters. “he…
The federal Treasury is expected to fast-track new insolvency laws to encourage entrepreneurialism and keep struggling companies alive as economic growth risks slowing and interest rates remain on pause. The new rules will give directors breathing space to take reasonable risks by providing a “safe harbour” from insolvent trading liabilities, and prevent contractors from using…
Question: What happens to a persons debt after they die? My mother has taken on a lot of medical and credit card over the past few years and Im worried that my brother and I will be responsible for it when she dies. What can you tell me? Worried Daughter Answer: In most cases when…
Dear Savvy Senior, What happens to a persons debt after they die? My mother has taken on a lot of medical and credit card over the past few years and Im worried that my brother and I will be responsible for it when she dies. What can you tell me? Worried Daughter Dear Worried, In…
Jim Miller, Savvy Senior 4:02 p.m. MT May 7, 2017 Jim Miller(Photo: DVT) Dear Savvy Senior: What happens to a persons debt after they die? My mother has taken on a lot of medical and credit card over the past few years and Im worried that my brother and I will be responsible for it…
Dear Savvy Senior, What happens to a persons debt after they die? My mother has taken on a lot of medical and credit card over the past few years, and Im worried that my brother and I will be responsible for it when she dies. What can you tell me? Worried Daughter Dear Worried, In…
The Italian flagship carrier Alitalia has entered bankruptcy for the third time. During its 70-year history the airline transported popes and politicians, but has also been in the center of various controversies. Now it seems that Italys airlines, much dependent on government support, can no longer count on the support of the public. The situation,…
What differentiates the Banking Regulation (Amendment) Ordinance 2017 from previous forays on bad loans of banks? Put bluntly, the ordinance cleared by the Union government this week buys an insurance for the banks against action by the four Cs, namely the Central Vigilance Commission (CVC), the Comptroller and Auditor General of India (CAG), the Central…