HARRISBURG — An effort to spend a fraction of Pennsylvania’s annual budget to pay off medical debt for thousands of residents ended Wednesday in the state House.
Democrats and Republicans on the House Health Committee voted in unison to eliminate the Medical Debt Relief Program initiative from a proposed bill that, when first introduced in the prior legislative session, built upon estimates that a $4 million spend could eliminate up to $400 million in medical debt for eligible recipients.
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As established in the Ghanaian landmark case Salomon v. Salomon , when a company is incorporated, it becomes a separate legal entity with perpetual succession.
This means the company continues to exist even if its members or officers leave, due to death or other reasons.
However, companies can face challenges and may need assistance to recover and grow, which is where corporate restructuring comes in.
This article will discuss corporate restructuring in Ghana, some different methods of corporate restructuring under Ghanaian law, and the role played by the Board of Directors in the process.
1. What is corporate restructuring
Corporate Restructuring is making major adjustments to a company’s financial and operational structure,…
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The National Company Law Appellate Tribunal (NCLAT) observed that Section 60(1) expressly provides for the NCLT to function as the Adjudicating Authority for Personal Guarantors to Corporate Debtors, thereby aligning such cases procedurally with corporate insolvency proceedings under Part II, even though the substantive provisions are rooted in Part III.
The Appellate Tribunal clarified that the jurisdiction conferred upon the NCLT under Section 60 is not merely procedural but also affects the appellate structure. Therefore, appeals against such orders would necessarily lie before the NCLAT under Section 61.
Dismissing the preliminary objection…
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A consortium of Indian banks, led by State Bank of India, on Wednesday won their court appeal in London to uphold a bankruptcy order against Vijay Mallya in a long-standing legal battle seeking repayment of a judgment debt owed by his now-defunct Kingfisher Airlines. High Court judge Anthony Mann ruled in favour of the banks to allow an appeal heard in February, while refusing two applications seeking permission to appeal filed by the 69-year-old businessman, declared a fugitive and wanted for fraud and money laundering charges in India.
“The banks’ pleaded position on security was one which they were entitled to adopt,” Justice Mann ruled.
“The bottom line in relation to this is that the bankruptcy order stands,” he concludes.
Law…
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Unruly Technologies, a company specializing in blockchain technology and digital currencies, has filed a request with the Tel Aviv District Court to initiate insolvency proceedings due to severe financial difficulties.
The company, which developed the blockchain platform behind the digital currency Spacemesh, sought to offer an alternative to Bitcoin’s consensus mechanism. Its vision centered on creating an open and accessible system that would enable any user to become a miner. Since its founding, Unruly has raised $24.5 million from investors.
According to the court filing—submitted by attorneys Karen Reichbach Segal, Guy Ido, and Avishai Sender of Gornitzky & Co.—Unruly has accumulated debts of approximately 1 million shekels to…
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Erik Isakson 
If you’re coping with high-interest credit card debt and struggling to find ways to pay it down, it could be worth evaluating your debt relief options. But if you’re a senior or older adult reliant upon a limited monthly budget, especially in today’s unpredictable economic climate, exploring debt relief options becomes more urgent. Thanks to a combination of persistent
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Sponsored: Debt Relief Exclusively for Texans WFAA
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Sponsored: Debt Relief Exclusively for Texans WFAA
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Australia’s biggest bank will ignore student debt in mortgage serviceability assessments if it’s nearly repaid, and apply a lower buffer for those due to repay within five years.
CommBank will no longer consider HECS-HELP repayments as an expense if a would-be borrower is on track to pay the debt off within 12 months.
That means graduates and tradies who leaned on the government-provided student loans could find themselves able to borrow significantly more from this week.
“A couple who earn $70,000 each and have HECS repayments that end within 12 months will now be more likely to meet lending criteria, and potentially be able to borrow an additional $36,000,” Madd Loans founder and broker George Samios said.
“A joint couple under…
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A massive deal to wipe out $30 billion in medical debt for an estimated 20 million Americans is providing some relief in Connecticut.
New-York based Undue Medical Debt recently announced it eliminated $219 million in medical debt in Connecticut as part of a deal with Pendrick Capital Partners, a third-party debt buyer.
The debt was owed by people living at or below 400% of the federal poverty level or for whom medical debt was 5% or more of their annual income.
Had the deal not been reached, the debts would have been sold to a for-profit collection agency and patients would have been pursued for the outstanding balances and potentially placed on payment plans.
“Most of that debt was in Florida and Texas, who…
