Insolvency Guardian Media Centre
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The second charge market is on the increase and key opportunities for brokers will be debt consolidation and green improvements.
Speaking at The Specialist Lending Event, Chris Pedlar, head of specialist distribution for the North at United Trust Bank (UTB), said that over the last 12-13 months, there had been a “steady increase every month” in the second charge market.
He noted that the second charge market was worth around £1.7bn annually, and approvals for second charge loans were rising 17% year-on-year.
Pedlar added that, in 2024, the second charge market had assisted around 36,300 people, which…
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February 7, 2025 – The Insolvency and Bankruptcy Board of India (IBBI) has provided significant relief to homebuyers through a rule change which says that even if a builder is bankrupt or a bankruptcy process is underway for a project, possession of the flat, plot, apartment or building can still be taken. This will ensure that people do not face delays in getting possession of their property.
IBBI has said this change in rules will allow the project to continue during the Corporate Insolvency Resolution…
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(LOS ANGELES) — Ippei Mizuhara, the former interpreter for MLB star Shohei Ohtani, is set to be sentenced Thursday on federal charges related to stealing nearly $17 million from the Dodgers player, nearly a year after the gambling controversy first surfaced.
Mizuhara, 40, admitted to fraudulently transferring the money from Ohtani’s account for more than two years to pay his gambling debts, including impersonating the athlete on two dozen occasions in calls to the bank, according to a plea agreement in the case.
Prosecutors called the scheme “deep” and “extensive” fraud and that Ohtani was “harmed substantially” by Mizuhara’s actions.
Mizuhara pleaded…
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The former interpreter for Dodgers star Shohei Ohtani was sentenced to nearly five years in prison and ordered to pay millions in restitution Thursday for bank and tax fraud in the theft of nearly $17 million from the three-time Major League Baseball MVP’s bank account.
Ippei Mizuhara, 40, was sentenced to four years and nine months in prison and ordered to pay restitution of $18 million. That figure includes restitution to Shohei Ohtani of $16,975,010 and to the IRS of $1,149,400. The sentence was largely in line with what prosecutors requested.
He also faces three years of supervised release.
Mizuhara, once part of the inner circle of one the world’s most famous athletes, appeared with his attorney about 40…
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Lottery player wakes husband after grocery run leads to huge prize in SC. ‘Debt free’ The Olympian
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As soon as his bi-weekly salary of $650 came to his hand, migrant worker Mani Arockiyasamy rushed to the Marina Bay Sands casino with $300 in hand and a target in mind.
With the aim of doubling his money, the 34-year-old from India, who works as a safety coordinator at a worksite, made a beeline for the craps game (where players bet on the outcome of a roll of dice).
In under an hour, his $300 was lost, and Mr Arockiyasamy headed for the ATM to draw the remainder of his wages. Eventually, he lost that too.
This wasn’t just a one-off incident but a recurring occurrence for him back in 2016. Back then, to feed his casino addiction, he borrowed money from friends under the pretense of going for courses, and by 2019, he was over $10,000 in…
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A 28-year-old man, Bharat Hedaoo, has been arrested in Nagpur for allegedly stealing INR 5.96 lakh from his employer to clear debts from online rummy gaming. The crime took place at a clothing store where he had been employed for the past nine years.
According to a report by NewsDrum, the accused wanted to pay off INR 40,000 in debts accumulated from online rummy. He allegedly stole the money between January 30 and February 1. Authorities found that he tampered with the shop’s tin roof to make it appear as a break-in.
The employer noticed discrepancies in financial records and reported the matter to the police. Investigators reviewed surveillance footage and financial records, identifying Hedaoo as the prime suspect. A probe showed…
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Struggling with bad credit can make it seem difficult to achieve your financial goals. After all, having a poor credit score can make it much harder to qualify for loans or refinance existing debt at a lower rate. Now that Donald Trump has been sworn into office as president, you may wonder how his administration’s policies could affect your current or future debts.
Depending on how Trump implements tariffs, it could influence how difficult it is for the Federal Reserve to lower interest rates. Plus, his Consumer Financial Protection Bureau (CFPB) hiring decision and the administration’s review of pending rules could impact whether medical debt is removed from credit reports. However, while policy changes can affect…
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New World Development (NWD) may need a debt-reduction plan or cash injection from the billionaire Cheng family to overcome a liquidity squeeze and assuage stock investors, according to analysts at HSBC Holdings.
The company’s shares have lost 37 per cent, or HK$6.4 billion (US$821.7 million) in market value, since late November after a management shake-up failed to calm investors. While the shares gained 6.3 per cent in a late rally on Friday, they remained near a record-low of HK$4.04 reached on January 25. HSBC on Thursday cut its stock-price target for a second time this year on a poor earnings outlook.
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The Delhi High Court bench of Justice Manmeet Pritam Singh Arora has held that in accordance with Section 32A(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), a Corporate Debtor that has successfully undergone a resolution process under Section 31 of the IBC shall not be prosecuted for offences committed prior to the commencement of the CIRP.
Brief Facts
On 26.07.2017 the National Company Law Tribunal (NCLT) initiated corporate insolvency resolution process (CIRP) against Bhushan Power and Steel Limited (BPSL/ Corporate Debtor/ Petitioner Company) under section 7 of IBC. JSW Steel Ltd. emerged as the successful resolution applicant.
Meanwhile, on 05.04.2019, the CBI registered an FIR against the BPSL, its…
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