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President Donald Trump signed an executive order limiting eligibility for the Public Service Loan … [+] Forgiveness (PSLF) program
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Trump Signs PSLF Executive Order
President Donald Trump signed a new executive order to reshape the Public Service Loan Forgiveness program, known as PSLF, by excluding certain borrowers. The order, signed March 7, directs the Department of Education to bar federal student loan relief for public-service workers employed at organizations deemed to have “a substantial illegal purpose.” In the order’s words, “Individuals employed by organizations whose activities have a substantial illegal purpose shall not be eligible for public service loan forgiveness.” This marks a dramatic shift in…
SpiceJet is facing a fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults.
Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling $12.68 million (about ₹ 110 crore).
SpiceJet, during the proceedings of the National Company Law Tribunal, earlier this week, sought…
The issue is that this process can take a long time and often doesn’t help creditors get their money back.
When a business is in financial trouble and can’t pay its debts, it might go into liquidation. This means the company is closed down and its assets (things it owns) are sold to pay off its debts. Sometimes, instead of selling everything piece by piece, the business is sold as a whole to keep it running.
This is called a “going concern sale.”
The concept of “going concern sales” in liquidation has sparked significant debate. Essentially, it involves selling a company as a whole, rather than breaking it up and selling its assets individually. This approach aims to preserve the business’s value and potentially save jobs. However,…
During President Trump’s first Cabinet meeting, DOGE lead Elon Musk warned about the ballooning debt and trillions in deficits.
Tesla CEO Elon Musk appeared at President Donald Trump’s first Cabinet meeting on Wednesday to discuss his waste-cutting efforts with the Department of Government Efficiency (DOGE) commission.
During the meeting, Musk took aim at what he described as $2 trillion in deficits, stating that America “simply cannot sustain” that amount of debt. As of Wednesday, the U.S. national debt has ballooned to $36,220,749,649,855.42.
“Just the interest on the national debt now exceeds the Defense Department spending,” Musk claimed. “We spend a lot on the Defense Department, but we’re spending like $1 trillion on…
Since opening its doors in September 2023, the Sphere in Las Vegas has offered an unprecedented concert experience.
The technological marvel is truly something to behold, with state of the art visuals accompanied by incredible audio technology. UCR writers have taken in a handful of shows at the venue – including U2, Dead & Company and the Eagles – and each one of them has returned raving about the venue’s seemingly limitless possibilities.
So how could live music’s most exciting new location be facing financial hardship? Like most things in big business, the explanation is complicated.
Record-Breaking Price Tag
The Sphere has been operating at a loss since before they turned on their stunning exterior lights – It isn’t because of…
SpiceJet is facing fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults.
Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling USD 12.68 million (about Rs 110 crore).
SpiceJet, during the proceedings of the National Company Law Tribunal, earlier this week, sought some time to resolve the matter as settlement talks were going on.
“Counsel on behalf of the Operational Creditor (SpiceJet) is present and sought time to seek instructions on the future course of action to be taken in the matter,” NCLT…
SpiceJet is facing renewed financial trouble as three Ireland-based aircraft lessors and a former pilot have filed insolvency petitions against the budget carrier in the National Company Law Tribunal (NCLT), citing unpaid dues.
Lessors NGF Alpha, NGF Genesis, and NGF Charlie have moved NCLT under Section 9 of the Insolvency and Bankruptcy Code (IBC), seeking to initiate insolvency proceedings over outstanding payments totaling $12.68 million (about ₹110 crore). The lessors, who had leased five Boeing 737s to SpiceJet, have also accused the airline of removing aircraft parts, including engines, and using them in other planes.
During the NCLT proceedings earlier this week, SpiceJet requested time to resolve the dispute, stating…
Bradley Wiggins has opened up on his post-retirement struggles, as the cycling legend detailed his drug addiction battle and the financial issues which declared him bankrupt in June last year.
Wiggins, who won a previous national record eight Olympic gold medals, was one of the greatest cyclists ever produced by Great Britain, winning titles on both the track and the road across his career.
Despite his success on the track, though, a company controlled by Wiggins was reported to have debts totalling around £1million, and after failing his individual voluntary agreement (IVA) to pay back the money he owed, was declared bankrupt.
The former cyclist was reportedly left homeless and said to be sleeping at various addresses including that…
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Paperwork prepared for Tuesday’s Ipswich Borough Council executive meeting has revealed that Dayal Motels Ltd went into liquidation on December 11.
The company was liable for business rates at the Tavern Street site from June 28, 2022, to December 10 last year, but according to the council no rates were paid.
There was a valuation request to remove the property from the ratings list for the period from June 28, 2022 to January 2023 due to work being undertaken at the property.
The hotel was originally built in 1518 and over the years hosted Charles Dickens, King George II, Admiral Lord Nelson and The Beatles. (Image: Lucy Taylor) However, ultimately the Valuation Office Agency didn’t remove the property from the…
