Banks will be told not to count HECS-HELP and other student loans in debt calculations for home loans, under a federal government push which could boost the borrowing power of some first homebuyers.

Updated guidance from financial regulators APRA and ASIC, made at the request of Treasurer Jim Chalmers, will also tell banks to disregard HELP repayments when assessing an applicant’s ability to service their mortgage.

Mr Chalmers said the clarifications were “common sense” and would “help more Australians into a home”.

“We’re tackling this housing challenge from every possible angle….

The Supreme Court of India, in China Development Bank v Doha Bank QPSC & Ors, held that the corporate debtor’s undertaking to discharge the liabilities of third parties under a deed of hypothecation (DoH) constitutes a guarantee under the Indian Contract Act, 1872 (ICA), and hence it can become a financial debt within the meaning of the Insolvency and Bankruptcy Code, 2016 (IBC).

In this case, the corporate insolvency resolution process (CIRP) had been commenced against Reliance Infratel. The appellants filed claims as financial creditors that were initially admitted, placing them on the committee of creditors (CoC). Respondent Doha Bank subsequently filed an application before the National Company Law Tribunal…

Former glamour model Katie Price is to have one of her two bankruptcies discharged following a hearing at a specialist court in London.

The 46-year-old was due to face questions over her finances on Tuesday at a hearing known as a public examination after first being declared bankrupt in 2019.

Bankruptcy orders typically end after a year in England and Wales, but the automatic discharge of Price’s first bankruptcy was suspended, meaning she was still bound by its terms.

The suspension was lifted by Insolvency and Companies Court Judge Sebastian Prentis on Tuesday, backdated to late last year, meaning the first bankruptcy will now be discharged.

Barrister Darragh Connell, representing the trustee of Price’s bankruptcies, said: “The…

​After seasonal adjustment, the number of registered company insolvencies in England and Wales was 1,966 in November 2024, 13% higher than in October 2024 (1,743) and 12% lower than the same month in the previous year (2,243 in November 2023). The number of company insolvencies remained much higher than those seen both during the COVID-19 pandemic and between 2014 and 2019.

​Company Insolvencies

Company insolvencies in November 2024 consisted of 254 compulsory liquidations, 1,565 creditors’ voluntary liquidations (CVLs), 132 administrations, 14 company voluntary arrangements (CVAs) and one receivership appointment. All types of company insolvency except for receivership appointments (which are rare) were higher than in October…

Former glamour model Katie Price is to have one of her two bankruptcies discharged following a hearing at a specialist court in London.

The 46-year-old was due to face questions over her finances on Tuesday at a hearing known as a public examination after first being declared bankrupt in 2019.

Bankruptcy orders typically end after a year in England and Wales, but the automatic discharge of Price’s first bankruptcy was suspended, meaning she was still bound by its terms.

The suspension was lifted by Insolvency and Companies Court Judge Sebastian Prentis on Tuesday, backdated to late last year, meaning the first bankruptcy will now be discharged.

Barrister Darragh Connell, representing the trustee of Price’s bankruptcies, said: “The…

The collapse of an energy company set up by Nottingham City Council has left more than £50m of bills unpaid, a report on its final liquidation has found.

The winding-up of Robin Hood Energy has been completed five years after it went into administration.

It found there were 347 claims of owed money from individuals and companies amounting to £67.1m, with only £13.7m of the claims paid out.

The city council has been approached for comment, the Local Democracy Reporting Service said.

It also held that the constitution of a Project Management Committee comprising members of financial creditors and corporate debtor in pursuance of a Settlement Agreement does not absolve the CD from its repayment obligations.

Brief Facts:

The First Amended Debenture Trust Deed was executed on 20.07.2017, followed by the Restated and Amended Debenture Trust Deed on 27.09.2018. A repayment notice was issued by the IDBI when…

Katie Price will have one of her two bankruptcies dropped.

Once thought to have a net worth of £40m, the former glamour model has been declared bankrupt for the second time in March last year over an unpaid tax bill of £761,994.05. The mum-of-five, 46, was first declared bankrupt in 2019.

The news one of her two bankruptcies will be left was decided at a specialist bankruptcy court in London on Tuesday but the reality TV star was not in attendance.

What we know

Price was due to be quizzed over her finances at a hearing known as a public examination.

Bankruptcy orders typically end after a year in England and Wales but the automatic discharge of…

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