Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to…
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United Nations — To achieve the Sustainable Development Goals (SDGs) and Agenda 2063 aspirations, Africa requires an additional $1.3 – 1.6 trillion in financing.
According to a new report ‘Unpacking Africa’s Debt: Towards a Lasting and Durable Solution’ by the UN Special Advisor on Africa launched on 14 November 2024, borrowing remains a necessary tool to navigate the compounding crises of financial distress, climate change, food insecurity, and persistent conflict.
The report emphasizes the need to re-examine Africa’s historical reliance on debt instruments to address structural constraints and unlocking economic opportunities. By fostering economic growth and ensuring debt sustainability, debt can become a tool for progress rather…
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US President Donald Trump holds up outgoing President Joe Biden’s letter as he signs executive orders in the Oval Office of the WHite House in Washington, DC, on Jan. 20, 2025.
Jim Watson | AFP | Getty Images
With President Donald Trump back in the White House and Republicans in control of Congress, experts worry that a number of student loan programs may now be in jeopardy.
At-risk programs include the U.S. Department of Education’s new repayment option for borrowers — called the Saving on a Valuable Education, or SAVE, plan — and the Biden administration’s more lenient bankruptcy policy.
Meanwhile, House Budget Committee Republicans are floating proposals that would reduce or eliminate more student loan programs, including the Biden…
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NCLT has directed for the liquidation of debt-ridden Tulip Hotels, as the tribunal failed to receive any bidder during its insolvency resolution process within the prescribed timeline. On May 16, 2023, the NCLT had directed the initiation of a Corporate Insolvency Resolution Process (CIRP) against Tulip Hotels over a plea filed by Yes Bank, claiming a default of Rs 900 crore for two corporate guarantees issued by it.
Tulip Hotels was a corporate guarantor for two loans disbursed by Yes Bank to Cox & Kings and EzeeGo One Travel and Tours Ltd. After they defaulted, the financial creditor Yes Bank invoked the guarantee of Rs 450 crore each given for…
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By Emlyn Cameron · January 16, 2025, 3:20 PM EST
Montoux, a New Zealand-based provider of actuarial software, has hired lawyers from Young Conaway Stargatt & Taylor LLP to help secure U.S. recognition of a liquidation process the company launched in its…
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On May 16, 2023, the NCLT had directed the initiation of a Corporate Insolvency Resolution Process (CIRP) against Tulip Hotels over a plea filed by Yes Bank, claiming a default of Rs 900 crore for two corporate guarantees issued by it.
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Data breaches and ransomware attacks in the US are increasing companies’ risk of financial losses, in many cases dragging them into bankruptcy or putting them out of business altogether.
Data breaches cost companies across the world on average about $4.9 million, and nearly double that amount in the US, according to a 2024 study by IBM. Costs can differ based on a number of factors, including regulatory compliance requirements, sensitivity or complexity of the data involved, and subsequent litigation.
The International Monetary Fund warned last year that cyberattacks have more than doubled since the onset of the pandemic, increasing the risk of “extreme losses” for companies that could cause funding problems “and even jeopardize…
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Data breaches and ransomware attacks in the US are increasing companies’ risk of financial losses, in many cases dragging them into bankruptcy or putting them out of business altogether.
Data breaches cost companies across the world on average about $4.9 million, and nearly double that amount in the US, according to a 2024 study by IBM. Costs can differ based on a number of factors, including regulatory compliance requirements, sensitivity or complexity of the data involved, and subsequent litigation.
The International Monetary Fund warned last year that cyberattacks have more than doubled since the onset of the pandemic, increasing the risk of “extreme losses” for companies that could cause funding problems “and even jeopardize…
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A builder who used company funds to pay for his high-performance car and stole almost £90,000 in plant machinery has been given a suspended sentence.
Vasile Hrusca withdrew more than £67,000 from his own failing company in 2019 to pay off the remaining balance on a hire purchase agreement for an Audi RS6 which he had bought the previous year for just under £75,000.
The 40-year-old also sold seven diggers and other plant machinery which were still subject to hire purchase agreements with two separate banks to fund gambling.
Hrusca, of Ferndown, Hornchurch, was sentenced to 18 months in prison, suspended for two years, when he appeared at Snaresbrook Crown Court on Friday…