Insolvency Guardian Media Centre
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Washington, D.C. Newsroom, Dec 26, 2024 / 14:30 pm
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.
Representatives from Caritas Internationalis and Jubilee USA Network, a league of faith-based development and debt-relief organizations, announced the five-year campaign, “Turn Debt into…
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Some of the former employees of Prolink NZ who have written a letter to Immigration NZ asking for open work visas.
Photo: RNZ / Lucy Xia
About 50 migrant workers whose visas are at risk after the liquidation of their employer – the Auckland-based labour hire company Prolink NZ – are demanding open work visas and for the directors of the company to be held accountable.
The workers, from China and Vietnam, mostly arrived in New Zealand on Accredited Employer Work Visas in early 2023, and say they have paid the equivalent of over NZ$20,000 for their visas and jobs. However, they have barely received full-time work over the past year and a half.
Many came as couples, and brought their children with them.
There have been…
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According to local report, South Korean crypto lending platform Delio has been declared bankrupt. Delio, which owes its customers approximately 245 billion won ($1.75 billion), halted withdrawals in mid-2023, leaving about 2,800 customers unable to access their funds.
Court has ordered Delio’s liquidation following FTX’s collapse
A Seoul court has ordered liquidation proceedings for Delio, offering a glimmer of hope for affected customers. Creditors can file claims until February 21, 2025, with the first creditors’ meeting scheduled for March 19, 2025.
A court official reportedly stated:
The debtor leased and entrusted the management of customer-deposit virtual assets to the management company, but a large part of it…
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The Casbit Group, previously the operator of Lalabet and JungliWin online casinos, has been declared bankrupt by the Court of Curaçao. The company’s financial troubles stem from numerous unpaid debts, including €619,500 owed to Dutch gamblers who were unable to claim their winnings. After ceasing operations in Curaçao earlier this year, the group’s casinos are now under the management of a Costa Rican company.
The bankruptcy filing, initiated in August and ruled on December 5, was supported by the Stichting Belangbehartiging Gedupeerden Online Kansspelen (SBGOK), an organization representing players with disputes against Curaçao-licensed casinos. Among the claimants is a Dutch gambler who remains unpaid for…
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Gerhardi Kunststofftechnik GmbH, a German company that produced emblems for Mercedes-Benz, has declared bankruptcy.
The reason was the drop in demand for its products and the crisis in the European automobile industry, foreign media write, Telegraph reports.
The German company failed to meet the challenges facing the modern European automotive industry due to the decline in demand for electric vehicles.
The company, founded in 1796, survived two world wars but went bankrupt in 2024.
Gerhardi has declared bankruptcy after a prolonged decline in demand for its products and it is not known what will happen to its 1500 employees.
The company began its journey more than two centuries ago with the production of metal…
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The paradox of plenty in Africa is as visible as it is frustrating – a continent endowed with immense natural wealth yet burdened by poverty, hunger, and unsustainable debt.
Every year, $90 billion escapes Africa through illicit financial flows, funds that could transform healthcare and infrastructure. Meanwhile, about 282 million people remain undernourished, and more than half of the nations face debt distress as external debt climbs past $1 trillion.
At the African Economic Conference held in Gaborone, Botswana, from 23 to 25 November 2024, leaders, economists, and young researchers addressed these challenges head-on.
The discussions centered on practical solutions to turn Africa’s wealth into prosperity for its people and were…
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BEIJING – In China’s take on Squid Game, fraudsters are preying on the financially distressed in a slumping economy with promises of prize money, debt restructuring and other schemes that are not always what is promised.
Unlike the dystopian South Korean TV series, which returns to the small screen for a second season on Dec 26, Chinese players taking on “self-discipline” challenges do not risk their lives if they lose.
But courts have found some participants in isolation challenges – who pay hundreds of dollars to stay in a room for days, following prescribed rules in the hopes of winning as much as 1 million yuan (S$186,156) – are being scammed.
And regulators are warning people about dodgy debt relief claims.
Isolation challenges,…
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Avoid new debt in 2025
According to latest data from the New York Federal Reserve, total household debt in the United States has reached $17.94 trillion. This highlights the growing financial pressures faced by many Americans, where rising costs and unexpected expenses often derail even the most diligent financial plans. In 2025, learning how to avoid new debt is more critical than ever for achieving lasting financial stability. This article discusses practical strategies to navigate your finances wisely, reduce stress, and take meaningful steps toward financial freedom.
Analyze Your Current Financial Situation
Gaining a clear understanding of your financial standing is the first step toward avoiding new debt. You should list all…
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ISDN Holdings Simplifies Structure with Subsidiary Liquidation TipRanks
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Electric Guitar confirms liquidation of 3radical Proactive Investors USA