• Amraiz Mahmood secured more than £20,000 in Covid support funds by falsely declaring he had a turnover of £81,000 as a self-employed delivery driver and courier  
• Mahmood spent the money on drugs and gambling and also used a separate non-Covid related loan for almost £40,000 worth of renovations to his home just before he filed for his own bankruptcy 
• Insolvency Service investigations have resulted in Mahmood being given a suspended prison sentence and 12-month curfew 

A delivery driver who spent Covid support funds he was not entitled to on drugs and gambling has been sentenced. 

Amraiz Mahmood fraudulently secured a £20,250 Bounce Back Loan from his bank in 2020 by overstating his 2019 turnover by more than…

DENVER — With a new president in the White House and a new court ruling, Coloradans paying back student loans with certain payment plans could see changes. Denver7 spoke with a student loan attorney to find out what the politics mean for those who currently have debt.

Attorney Karen Cody-Hopkins, who specializes in student loans and bankruptcy, said she has been swamped by the confusion in the student loan world. A recent ruling now blocks the “Saving on a Valuable Education” (SAVE) Plan, a repayment option introduced by the Biden administration.

Student loan attorney explains what new president means for payment plans

The Eighth Circuit Court of Appeals agreed with a lower court that…

Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.

• Amraiz Mahmood secured more than £20,000 in Covid support funds by falsely declaring he had a turnover of £81,000 as a self-employed delivery driver and courier
• Mahmood spent the money on drugs and gambling and also used a separate non-Covid related loan for almost £40,000 worth of renovations to his home just before he filed for his own bankruptcy
• Insolvency Service investigations have resulted in Mahmood being given a suspended prison sentence and 12-month curfew

A delivery driver who spent Covid support funds he was not entitled to on drugs and gambling has been sentenced.

Amraiz Mahmood fraudulently secured a £20,250 Bounce Back Loan from his bank in 2020 by overstating his 2019 turnover by more than £65,000.

The 31-year-old…

Adani Power news: Indian billionaire Gautam Adani has been expanding his business empire. In this regard, his Adani Power Limited (APL), a Rs 1.82 lakh crore market cap company, has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited, a subsidiary of Reliance Power, Anil Ambani’s Reliance Group firm. Vidarbha Industries Power is currently undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016. Vidarbha Industries Power owns and operates a 2×300 MW thermal power plant in the MIDC Industrial Area of Butibori in Nagpur.

Adani Power was selected as the…

The Bengaluru insolvency court selected Shailendra Ajmera to act as a resolution professional for Byju’s bankruptcy proceedings after changing the leadership of the case. Byju implemented this action directly after the National Company Law Tribunal (NCLT) expressed doubt about the resolution performance of Pankaj Shrivastava as a former resolution professional. The company finds itself at a decisive point during ongoing struggles over firm control. Byju’s former directors under the leadership of Riju Raveendran are actively working to free the company from its present state of insolvency.

The situation has worsened because Glas Trust LLC and Aditya Birla Finance…

A liquidator is investigating an alleged fraud on a wound-up investment firm run by Jeff Leo, a former director of the bust AI firm Altada, the High Court has been told. Wenning Holdings Ltd was put into voluntary liquidation in September 2023 on foot of a declaration of solvency by Leo, an American businessman and director of the firm.  However last September Kieran Wallace of Interpath Advisory replaced the original liquidator John Healy of Kirby Healy Accountants, on foot of a petition by company shareholders James and Mary Wenning. The Wennings, US investors, are allegedly owed millions on the back…

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Conservative opposition leader Robert Alden said: “Labour’s salami slicing has both driven services into the ground and failed to make the necessary savings or transform the council into a modern institution fit for purpose.

“This abject failure has been driven at every instance by the failure of the Labour leadership in Birmingham”.

Leader of Birmingham City Council, Labour’s John Cotton, said there was much more to do to ensure the authority became financially sustainable, but that progress was being made.

“We continue to engage constructively with the new government,” he said.

Mr Cotton added: “It remains clear that the pace of change must further increase, as further savings are identified, and we transform services.

“Our…

Words: Liezl Human / GroundUp

Students at the University of Cape Town (UCT) returned to lectures on campus on Monday after several days of protests over student debt. This comes as an agreement between the UCT council and Student Representative Council (SRC) was reached on Thursday, 20 February.

The first week of lectures had been disrupted by hundreds of students blocking entry and marching on campus. This forced some lectures to move online.

SRC members demanded that management give concessions to financially excluded students who were academically eligible to register but unable to settle their outstanding debt.

In a statement on 21 February, Norman Arendse, chair of the UCT council, said that the university’s historic…