The Dodd-Frank Act requires big banks to write so-called living wills, but it turns out that large financial institutions are as reluctant as the rest of us to contemplate their own mortality. Credit Photograph by David Goldman / The New York Times / Redux One of the signal, but formerly obscure, achievements of the Dodd-Frank…
Lorcan OConnor, director of the ISI There was a 26 per cent increase in new applications for Personal Insolvency Arrangements (PIAs) in the first quarter of 2016, according to new figures. This years first quarterly statistical bulletin from the Insolvency Service of Ireland (ISI) recorded continued growth in new applications, protective certificates and approved arrangements.…
Civil lawsuits will soon follow federal charges that a Bucks County man and his late wife conspired to steal nearly $1.5 million in room and board payments from Lehigh University fraternities and sororities that paid the couple to manage their money, but instead spent it on a lavish lifestyle. Organizations seeking to recover some of…
The first case of a heavily indebted borrower overturning the veto of a bank which had blocked their ability to get a debt write-off through insolvency has proceeded through the courts. The individual had 2.8m of debt and secured a write-off of half of their borrowings. The individual will be able to retain the family…
Some 570 people applied for debt relief during the first quarter of the year, an increase of 16 per cent on 2015, according to figures from the Insolvency Service of Ireland, as experts suggest a deluge of deals will now be done. There were 570 applications, representing total debt of 303 million, for debt relief…
Some 570 people applied for debt relief during the first quarter of the year, an increase of 16 per cent on 2015, according to figures from the Insolvency Service of Ireland, as experts suggest a deluge of deals will now be done. There were 570 applications, representing total debt of 303 million, for debt relief…
Charlie Weston, Personal Finance Editor Published 19/04/2016 | 10:14 Four Courts THERE has been a surprise fall in the number of people being adjudicated bankrupt. Share Go To This is despite the bankruptcy term falling from three years to one year from January 29 last. The Insolvency Service said there was a rise in other…
Latest News Michelle Grattan on Clive Palmer [Video] All of humanity should share in the space mining boom Palmer may have broken the law: Queensland Nickel administrators 2016: First Quarter commodity update [infographic] In a very rare move, the federal government plans to use its position as a creditor to call for the appointment of…
Rogers Communications has reported lower year-over-year profits in the first quarter, citing among other reasons higher restructuring costs and an increase in the adjusted operating loss of its traditional media business. The Toronto-base telecommunications giant said net income in the three months ended March 31 was $248 million or 48 cents per share, down from…
The court will decide at the end of the month if the company Euro Insol gets appointed judicial administrator of the Romanian energy company Complexul Energetic Hunedoara (CEH). The Energy Ministry wanted to appoint Euro Insol as the producers judicial administrator. However, the representative of Romanias Tax Agency ANAF voted against this proposal…