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Nearly 500 single mothers declared bankrupt as debt pressures mount | Malaysia

A TOTAL of 490 single mothers in Malaysia have been declared bankrupt after failing to meet various financial commitments, including personal loans, housing loans, business borrowings and credit card debts, according to the Malaysian Department of Insolvency. Director-General Datuk Ishak Bakri said the inability to manage debt obligations, compounded by rising living costs, has been…

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Benko family trust files for insolvency after USD 1 billion arbitration order linked to Signa collapse

A family trust associated with Austrian real estate developer Rene Benko has filed for insolvency after arbitration rulings required it to pay nearly USD 1 billion to companies linked to Abu Dhabi’s sovereign wealth fund Mubadala Investment Company. The filing was made with a court in Innsbruck, which confirmed that insolvency proceedings have been opened.…