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Government will prioritise debt management, domestic revenue mobilisation, and economic transformation in the next financial year. This revelation was made
The National Company Law Tribunal, New Delhi bench comprising Chief Justice (Retd.) Ramalingam Sudhakar (President) and Avinash K. Srivatava (Technical
Some successful tennis players have been unable to manage their assets, leading to bankruptcy.
Tennis is undoubtedly one of the most attractive sports for athletes. The prize pool at the Grand Slams and other top ATP and WTA competitions is growing every year.
Not only the winners but there’s something in it for every player competing in the tournament. The recently concluded Australian Open 2025 announced an all-time high prize pool of AUD 96.5 million (USD 60.29 million), an increase of 12% from last year.
Players will see their earnings increase at each stage of the tournament. Both men’s and women’s singles champions will get AUD 3.5 million (USD 2.19 million) for winning the title. However, with prize money…
Austrian investor Rene Benko, founder of the Signa property and retail group and one of Austria‘s richest men, has filed for insolvency, a spokesperson for the Innsbruck regional court confirmed on Thursday.
The move comes after the Austrian state prosecutor filed an insolvency petition against the 46-year-old at the end of January, accusing Benko of failing to pay promised fees linked to the insolvency of Signa Group’s holding company.
The court spokesperson emphasized that this was not an application for private insolvency, but rather insolvency as a business owner.
Nevertheless, as Austrian daily Der Standard reports, Benko is personally liable with his own private wealth, estimated in 2023 to be around €5.5 billion (roughly $6…
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Government will prioritise debt management, domestic revenue mobilisation, and economic transformation in the next financial year.
This revelation was made by the State Minister for Finance (General Duties), Hon. Henry Musasizi, while justifying the motion on the National Budget Framework Paper for Financial Years 2025/26- 2029/20.
Musasizi revealed that the preliminary resource envelope stands at Shs57.44 trillion and that this financial year marks the first implementation phase of the National Development Plan IV which aims to increase household incomes, fully monetise the economy and enhance employment for sustainable socio-economic transformation.
He underscored that focus would be placed on agro-industrialisation,…
A company planning to eliminate $10 million in debt for some western North Carolina residents has enlisted former UNC basketball coach Roy Williams to spread the news.
Verizon and ForgiveCo plan to to eliminate $10 million in consumer debt for 6,500 western North Carolinians, a news release from Verizon said. The debt relief is aimed to help people as they recover from Hurricane Helene.
No application was required for debt to be relieved. Instead, those impacted will get surprise letters, emails and text messages, the release said.
A lucky few may get a call from Williams, who was born in Marion in 1950.
In a press conference Friday, Jan. 31, at Verizon’s South Asheville store, the organizations…
The National Company Law Tribunal, New Delhi bench comprising Chief Justice (Retd.) Ramalingam Sudhakar (President) and Avinash K. Srivatava (Technical Member) has held that a pre-existing dispute between the Financial Creditor and Corporate Debtor does not bar a petition under section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) to be entertained.
The Tribunal also held that a claim of the Financial Creditor which did not form part of the Resolution Plan of the Holding/Parent Company is not extinguished because at the time of Corporate Insolvency Resolution Process (“CIRP”) of Parent Company of corporate guarantor, there was no default on the part of Corporate Debtor and hence there was no occasion to…
“Khun Soo Rao Chuay”, or “You Fight, We Help,” has surpassed 500,000 registrations, with applications open until the end of February.
BANGKOK, Thailand – The government’s debt relief initiative, “Khun Soo Rao Chuay”, or “You Fight, We Help,” has surpassed 500,000 registrations, with applications open until the end of February. A total of 48 financial institutions have pledged their support for the program, aimed at assisting borrowers struggling with debt.
Deputy Government Spokesperson Sasikarn Wattanachun provided an update on the program, which includes two key measures. The first, “Pay on Time, Keep Your Assets” or “Jai Trong Kongsap”, offers debt restructuring for small-scale…
Governor Phil Murphy has announced a third round of medical debt elimination, benefiting over 20,000 residents with a total of $26 million in debt relief. This initiative is part of a partnership with the national non-profit, Undue Medical Debt, which has already helped eliminate $246 million in medical debt for 147,000 New Jersey residents.
The latest round of debt relief will erase an average of $1,300 in medical bills per person. The state allocated $270,000 in federal funds from the American Rescue Plan to achieve this goal. According to NorthJersey.com, those eligible for relief are individuals below 400% of the federal poverty line or those with medical debts exceeding 5% of their annual income.
According to the survey, the NCLT reported adjudicating 34,690 cases out of 35,501 cases filed, achieving a 98% adjudication rate as of July 2024. However, 2,593 cases are still awaiting admission, and 4,723 cases remain pending after admission. As of September 2024, 30 courts and 16 benches (of NCLT) were functioning headed by the President, and 31 each of judicial and technical members, the survey noted.
Addressing the reason for the delay, the survey said
“Reasons for delay in admission occur as the AA (NCLT) tries to establish the existence of debt and default, as promoters file objections. Including evidentiary proof in the form of contracts, GST filings, etc., is all provided for, but all of this can be contested.”
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