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Ecsponent, the financially distressed previously JSE-listed company now named Afristrat Investment Holdings, has paid the former client that launched a
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Ecsponent, the financially distressed previously JSE-listed company now named Afristrat Investment Holdings, has paid the former client that launched a high court application to liquidate the company in an attempt to get paid the R433 000 owing to it for services provided.
The settlement agreement will possibly result in Afristrat relaunching its high court application to voluntarily liquidate the company.
Financial planner roll-up AZ Next Generation Advisory (AZ NGA) is positioned to execute its ambitious growth strategy after sealing a new debt deal.
Global investment giant Barings acted as joint lead arranger on a $345 million senior secured credit facility to support the accounting and financial advice business in a deal that closed last week.
A new Ipsos survey conducted on behalf of MNP shows a large number of British Columbians say stigma prevents them from seeking financial help when it comes to debt.
As March marks Debt Literacy Month, MNP’s survey shows 74% of respondents believe there is no shame in asking for help with debt; meanwhile, 39% say the stigma surrounding the topic prevents them from seeking assistance, especially when it comes to bankruptcy.
“Although most British Columbians agree there’s no shame in asking for help with debt, the significant increase in those who say the stigma surrounding bankruptcy prevents them from seeking help is troubling,” MNP licensed insolvency trustee Linda Paul said in a news…
New research has revealed that personal insolvency agreements (PIAs), or Part X agreements, are surging in popularity over bankruptcies to effectively negotiate legacy debts.
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Based on statistics from the Australian Financial Security Authority (AFSA), PIA numbers had almost reached pre-COVID-19 levels, which demonstrated a growing trend in debt management solutions.
Data highlighted in the first half of this financial year, 87 PIAs had been recorded, following 163 PIAs recorded in the 2024 financial year.
Malcolm Howell, partner of insolvency firm Jirsch Sutherland, said the uptick in PIAs could be attributed to multiple factors.
Calcutta High Court: A Single Judge Bench of Justice Shampa Dutt (Paul) dismissed a writ petition challenging an order directing the payment of gratuity to an employee. The court ruled that gratuity payments remain a statutory obligation even after a company undergoes Corporate Insolvency Resolution Process (CIRP). It held that Section 36(4)(a)(iii) of the Insolvency and Bankruptcy Code explicitly excludes gratuity funds from forming part of the corporate debtor’s estate. Lastly, the court noted that CIRP merely facilitates a change in management and does not extinguish a company’s obligations under the labor laws.
Background
Stesalit Limited had undergone a change in management following the Corporate Insolvency…
Since the beginning of the recovery from the Covid-19 pandemic, there have existed two different insolvency regimes on the island of Ireland.
In 2024, there were 852 total insolvencies in the Republic, a 16% increase on 2023.
Some 305 companies in Northern Ireland declared insolvency in 2024, an almost 40% increase.
Of course, a portion of the explanation will always rest on the sizes of the respective jurisdictions, but Northern Ireland’s much stricter post-Covid insolvency procedures can also help us understand this discrepancy.
Insolvencies can be said to have risen dramatically in both jurisdictions in 2024, but they could also be said to be simply returning to pre-Covid figures.
Despite the Republic’s increase, their insolvency…
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Rising inflation could make it difficult to reduce your credit card debt.
nui/Getty Images
Inflation has been steadily rising for the past few months, jumping from 2.4% last September to the 3% rate seen in January. Unfortunately, that inflation leads to rising prices — and, often, more money spent on credit cards. It can also lead to higher interest rates, too.
“It can further push borrowers into a continued cycle of ongoing debt,” explains Kim Chambers, credit card product manager at Georgia’s Own Credit Union.
If inflation keeps rising, it will undoubtedly impact credit card debt across the country. Below, we’ll…
