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Stepping Stones Early Learning Center in Knoxville recently concluded their “STEP UP” capital campaign and were able to reduce their debt by $600,000.
As the center wrapped up 2024, they also brought their “STEP UP” capital campaign to an end. Stepping Stones has spent the last year and a half raising funds to help pay off the remaining balance on their mortgage. The center announced that they have lowered the outstanding balance remaining on the mortgage from $800,000 to $200,000 with the help of local businesses and community members. Stepping Stones Board President Erika Pleggenkule says these donations have greatly helped the center, which is vital for the Knoxville community.
In a recent judgment delivered by the Supreme Court of India,1 it has been reaffirmed that the Insolvency and Bankruptcy Code, 20162 (IBC/Code) is a complete Code in itself, having sufficient checks and balances, and thus, the exercise of supervisory jurisdiction and judicial review by the High Courts should only be exercised in exceptional and compelling circumstances. The judgment expounded on the scope of judicial intervention, outside the remit of the adjudicating authority3 during the corporate insolvency resolution process (CIRP). The decision, passed in an appeal which arose from the Karnataka High Court came down heavily on the High Court’s exercise of its plenary jurisdiction under Article 2264 of the
The owner of a Lincolnshire car wash has been banned from running a company for five years after employing illegal workers.
Mohamed Hamza, 34, of Granville Road, Peterborough, hired the workers from Syria and Egypt to work at M&H Car Wash on Enterprise Way in Pinchbeck, near Spalding.
The business was fined £20,000 after the two workers, a man in his 20s and a man in his 30s, were discovered during an immigration enforcement visit in 2022.
Dame Angela Eagle, the minister for border security and asylum, said: “Anyone who thinks they can profit from illegal working in the UK can think again. I am pleased to see justice has been served.”
The Court also analysed a series of judgments on Section 32A of IBC.
“The intention of the provision is to discover in such cases as to who are the real individuals or entities who are acting jointly or in concert and who have set up such a corporate vehicle for the purpose of submission of a resolution plan,” the Court stated.
It further highlighted the relevance of this principle in the Tata Steel BSL Ltd case where the corporate debtor was discharged even though the resolution plan was approved before Section 32A’s introduction.
The Court clarified the exceptions to such discharge under Section 32A, including when it comes to cases involving Micro, Small, and Medium Enterprises (MSMEs) or where resolution applicants fail to meet…
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Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale.
The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first filed for bankruptcy in March 2024 and emerged a month later as a private company, keeping all of its stores open.
Joann blamed inventory issues that were “acute and unexpected,” revealing in court documents that it faced an “unexpected ramp-down, and, in some cases, the entire cessation of production” of important…
ISLAMABAD – Pakistan on Tuesday called for debt relief and restructuring as part of a broader effort to address climate change and economic distress at a solemn ceremony marking the handover by Uganda of the Chairmanship of Group of 77 and China to Iraq.
G-77 is the largest intergovernmental coalition of developing countries at the United Nations, which provides the means for the countries of the South to articulate and promote their collective economic interests and enhance their joint negotiating capacity on all major international economic issues within the UN system, and promote South-South cooperation for development.
“We are in a moment where inequality among and within countries is increasing, and we see 800 million plus…
NEW YORK – Pakistan called for debt relief and restructuring as part of a broader effort to address climate change and economic distress at a ceremony organised to hand over the chairmanship of Group of 77 and China to Iraq. “We are in a moment where inequality among and within countries is increasing, and we see 800 million plus people living in extreme poverty,” said Ambassador Munir who twice led the G-77, an alliance of developing countries established on 15 June 15 1964. The group derives its name from the 77 original signatories, although it now has 134 members.
G-77 is the largest intergovernmental coalition of developing countries at the United Nations, which provides the means for the countries of the South to…
CHAMPAIGN, Ill. (WICS) — Over 52,000 people in Illinois had their medical debt wiped out thanks to a statewide pilot program.
The Illinois Department of Healthcare and Family Services says last year, more than 1,100 people in Sangamon and Champaign counties were helped through the Illinois Medical Debt Relief Pilot Program.
Claudia Lennhoff, Executive Director of Champaign County Healthcare Consumers explains who qualifies for this program:
It was basically available for people or households who had medical debt that had gone to collections. Families or households that were at 400% or below the federal poverty level could get that relief.
Lennhoff says this program is unique:
People didn’t have to apply for it, they were selected for…
