State health officials have taken the first step — creating a template — toward their pledge of sharing North Carolina’s innovative medical debt relief blueprint with other states.
The N.C. Department of Health and Human Services unveiled last week its medical debt toolkit website that features its groundbreaking collaboration with the state’s 99 hospitals who volunteered to participate.
The key to the N.C. collaboration is the hospitals agreeing to eliminate $4 billion in medical debt owed by an estimated 2 million low- and middle-income households.
Hospitals would forgive more than a decade of existing medical debt for eligible North Carolinians and prevent the accumulation of new debt going…
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This week, 33 abortion funds around the country will receive $50,000 from the Debt Collective, a union of debtors best known for its actions around student loans. The money is part of the Debt Collective’s Rolling Jubilee Fund, a project of canceling debt in almost all fields of American life, whether it be medical debt, probation debt, or student loan debt.
Abortion debt didn’t become a widespread phenomenon until after the Dobbs ruling that overturned Roe v. Wade, Astra Taylor of the Debt Collective told me. As states’ policies on abortion diverged dramatically, pregnant people in red states where the practice was banned were forced to cross state lines for abortion care. The travel often costs thousands of dollars,…
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SBI had moved the plea to initiate insolvency proceedings against Gopinath in 2022, when NCLT issued notice and appointed Bhuvaneshwari as Gopinath’s RP.
The case has progressed at a snail’s pace since then, owing to pendency of challenges to provisions relating to personal guarantors under the IBC before the Supreme Court. The apex court ultimately upheld the validity of the provisions in November 2023.
A personal guarantor is an individual who provides a written commitment to a lender, assuring repayment of a loan or credit facility taken by a company. If the company defaults on its obligations, the guarantor’s personal assets may be seized by the lender to recover the outstanding amount.
In 2019, the government introduced…
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* Moody’s Investors Service (2023), accessed August 2024.
Important information
The opinions expressed are those of the author(s), are as of the date indicated and may change based on market and other conditions. The accuracy of the content and its relevance to your client’s particular circumstances is not guaranteed.
This market commentary has been prepared for general informational purposes by the team, who are part of Macquarie Asset Management (MAM), the asset management business of Macquarie Group (Macquarie), and is not a product of the Macquarie Research Department. This market commentary reflects the views of the team and statements in it may differ from the views of others in MAM or of other Macquarie…
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Thai cabinet approves measures to ease household debt Reuters
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About three million Australian workers with a HELP debt will get some level of relief in the next financial year should the government’s legislation passes through parliament.
The government wants to increase the amount people earn before they need to repay their debt by more than 20 per cent seeing the minimum threshold increase from $54,435 in 2024-25 to $67,000 in 2025-26.
They also plan to introduce a new system so repayments are only made on income above $67,000 rather than a person’s total income.
H & R Block Australia…
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Company collapses right before Christmas news.com.au
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Rival hospital operators circle Healthscope The Australian
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SINGAPORE: A Singaporean casino high-roller who incurred a multimillion-dollar baccarat debt with The Star Gold Coast Casino has been ordered to repay the casino about A$38.7 million (S$33.6 million).
Dr Wong Yew Choy incurred an A$43 million debt at the casino in Queensland, Australia, between July 26 and Aug 2, 2018, but left Australia on the last day without settling it.
Star Entertainment Queensland, which operates the casino, attempted to recover the debt with a signed blank cheque he had previously given Star Sydney, a related establishment.
Dr Wong had exchanged the cheque for gambling chips in May 2017 as part of a cheque-cashing facility…
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Study finds around 16% of adults and 26% of adolescents who play online casino games are estimated to have a gambling problem.
Dec 15, 2024 • 11:12 ET
• 4 min read
The World Health Organization (WHO) has predicted that online gambling losses in the United States will exceed $1 trillion by 2028.
The United Press International highlights that around 16% of adults and 26% of adolescents who play online casino games are estimated…
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The Bill to amend the Insolvency and Bankruptcy Code (IBC), set to be presented in Parliament during the Budget session, may include provisions for the introduction of “group insolvency” norms, according to official sources.
To increase value maximisation of assets, reduce the workload of National Company Law Tribunals (NCLTs), and improve cost efficiency, there is a need to formally codify group insolvency norms, they said. Group insolvency refers to the process in which multiple companies under common management or ownership face insolvency issues simultaneously. For example, a default by one company in a group can trigger a cross-default affecting other companies within the same group.“This situation is typically complex due…
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