Insolvency Guardian Media Centre
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Anyone who overspent in the run-up to Christmas and is starting the new year with crippling debts, is being urged to contact MABS in Kerry, before the issue becomes overwhelming.
The Money Advice and Budgeting Service always sees a surge in the number of new clients every January, according to spokesman Eamon Foley.
In January of 2023, 38 new clients in Kerry sought help with debt, much of it accrued during the run-up to Christmas.
Whether it’s unpaid bills, maxed-out credit cards or other forms of debt, Mr Foley says free financial help is just a phonecall away:
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The petitioner had claimed significant financial losses in his tobacco business, arguing that he had no income-earning properties to repay loans borrowed from multiple creditors
In the recent ruling the High Court of Andhra Pradesh dismissed a revision petition filed by the assessee for misrepresentation of financial facts in his tobacco business.
Vaddempudi Sivannarayana,petitioner -assessee, had filed an Insolvency Petition under section 10 of the Provisional Insolvency Act, seeking to be declared insolvent due to heavy business losses incurred in his tobacco trade.
He claimed that he had borrowed loans from the respondents by executing promissory notes and other documents but had no income-earning properties to repay these debts. The…
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Continuing St. John Paul II’s mission from the 2000 Jubilee, a U.S.-based jubilee network is partnering with international aid organizations to provide debt relief for the world’s poorest countries during the 2025 Jubilee Year.
Dec 27, 2024
Pope Francis opens the Holy Door of St. Peter’s Basilica before Mass on Christmas Eve, Dec. 24, 2024, officially launching the Jubilee Year 2025. | Credit: Vatican Media
By Madalaine Elhabbal
Continuing St. John Paul II’s mission from the 2000 Jubilee, a U.S.-based jubilee network is partnering with international aid organizations to provide debt…
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Student debt is a crippling challenge with borrowers owing a staggering $1.7 trillion nationwide. In Connecticut, residents hold an estimated $18 billion of that share, according to the Education Data Initiative.
Borrowers burdened by the challenges of high student loan debt could find relief through a new $6 million state program launched Jan. 1. The program could help a small number of those residents get up to $5,000 a year, for up to four years.
As of Jan. 2, the state already received 345 applications through the online database, according to a statement from the Connecticut Office of Higher Education.
The state assistance, which is backed by national pandemic relief dollars, comes as the…
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CHRISTMAS can be a difficult time of year for many families with all the extra expenses.
Between the rising price of energy and higher mortgage rates, coupled with the ever-growing cost of Christmas Day itself, it’s no surprise that many of us are feeling the pinch.
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The good news is that if you’re facing an emergency such as a broken down car or boiler, there are plenty of low-cost ways to borrow money.
However, remember that taking on debt should usually be a last resort used only for necessities.
Whereas if you’re after some winter sun,…
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E-bike brand Stella Fietsen declared bankrupt The Brussels Times
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Dem-run city may go bankrupt thanks to public sector pension scheme MSN
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eVTOL manufacturer, Lilium has announced an asset purchase agreement with Mobile Uplift Corporation, a newly formed company backed by a consortium of European and North American investors.
The agreement involves Mobile Uplift Corporation acquiring the operating assets of Lilium GmbH and its subsidiary, Lilium eAircraft GmbH.
The transaction represents a significant step in Lilium’s financial restructuring efforts and is expected to provide the funding necessary to restart business operations.
Prior to filing for insolvency, Lilium planned to produce the Lilium Jet, an all-electric vertical take-off and landing jet
© Lilium
This news follows Lilium’s main German subsidiaries entering self-administration proceedings due to…
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NCLAT Fortnightly: Important orders on IBC (November 1 – November 15, 2024) Bar & Bench – Indian Legal News
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Singaporean oil trader OK Lim, once a leading player in the city’s busy bunker trading sector, has been declared bankrupt after consenting to a multibillion-dollar court judgment in favor of his former company’s creditors.
Lim and his children – Evan Lim Chee Meng and Lim Huey Ching – owe a combined $3.5 billion in connection with the collapse of Hin Leong Trading, the family’s energy brokerage and shipping firm. Hin Leong operated at a loss for years, and to fill the gap, Lim had one of his executives create fake sales orders in order to apply for accounts receivable financing from his bankers. The fraudulent scheme collapsed in 2020 after a large trading bet went bad, and the firm quickly went bust.
Hin Leong’s bankers…