Insolvency Guardian Media Centre
Having spent 35 years in the automotive industry, it is my experience dealer principals are generally concerned about “being in debt,” though debt, when managed properly, can be a powerful tool for dealership principals to enhance liquidity and profitability. Leveraging debt allows dealerships to access capital needed for growth, manage cash flow effectively, and take advantage of investment opportunities without diluting ownership.
Let’s look at which types of dealership assets are relevant and how to effectively leverage them:
Inventory
Inventory is one of the most significant assets for automotive dealerships. It includes both new and used vehicles held for sale. Leveraging inventory often involves utilizing…
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Essential data to guide decisions, monitor progress, and evaluate impact.
world-bank:category/digital
92.76 million
people had enhanced access to broadband internet in fiscal year 2023-2024 with support from IDA.
Source: International Development Association, World Bank
world-bank:category/people
143.61 million
people received essential health, nutrition, and population services thanks to IDA in fiscal year 2023-2024.
Source: International Development Association, World…
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The Federal Trade Commission (FTC) said Monday (Dec. 9) that at its request, a federal court halted and froze the assets of the operators of a scheme that allegedly bilked student loan borrowers while pretending to be affiliated with the Department of Education.
In response to the FTC’s complaint against Nevada-based Superior Servicing and its operator Dennise Merdjanian, the U.S. District Court for the District of Nevada entered a temporary restraining order on Nov. 22 and a preliminary injunction against Superior Servicing on Friday (Dec. 6), the FTC said in a Monday press release.
The FTC charged that the defendants violated the Impersonation Rule, the FTC Act’s prohibition on deceptive marketing, the Telemarketing Sales…
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Getty ImagesVice Media plans to cut hundreds of jobs as it stops publishing on Vice.com, according to a memo from chief executive Bruce Dixon.
In May, the firm filed for bankruptcy in the US and was bought by Fortress Investment Group.
Mr Dixon said Vice plans to “partner with established media companies to distribute our digital content”.
Mr Dixon said “it is no longer cost-effective for us to distribute our digital content the way we have done previously,” in the memo seen by the BBC.
“Regrettably, this means that we will be reducing our workforce, eliminating several hundred positions,” he said.
The company continues to sell the business, according to Mr Dixon who said the announcement will be made in the coming weeks.
Launched in 1994 as…
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Before the Covid-19 pandemic swept across the globe, Côte d’Ivoire stood out as one of Africa’s fastest-growing economies. From 2012 to 2019, the nation boasted an annual growth rate of 8%, fueled by sound economic policies and a period of relative political stability. The benefits were tangible: poverty rates fell from 44% to 39.5%, and the country made strides in education and health, increasing its Human Capital Index (HCI) score from 0.30 to 0.38 over the past decade.
However, these national achievements often contrast sharply with the realities in rural areas. Take Assoum 2, a small village nestled in the far northeastern corner of the country, near the border with Burkina Faso. For years, children attended classes in…
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‘Stop This Now Or…’: Elon Musk Repeats ‘America Could Go Bankrupt’ Warning | U.S. Election The Times of India
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KEY TAKEAWAYS
- The Federal Trade Commission helped end a $10 million student loan debt relief scheme by Nevada-based company Superior Servicing.
- A federal court recently placed Superior Servicing under a temporary restraining order and froze its assets after an FTC lawsuit in 2023.
- The company had allegedly made false claims that they were affiliated with the U.S. Department of Education and could offer customers loan consolidation, reduced interest rates, reduced monthly payments, or loan forgiveness.
- Operators collected up to $899 as initial payments from borrowers, in addition to monthly payments, the FTC said.
The Federal Trade Commission (FTC) helped end a $10 million student loan debt relief scheme that allegedly collected illegal…
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FC Barcelona have been declared ‘technically bankrupt’.
FC Barcelona have been declared ‘technically bankrupt’ by a leading Catalan journalist.
The Blaugrana are mired in debts repeatedly reported as exceeding €1 billion ($1.075 billion), and had to pull various ‘economic levers’ last summer revolving around the sale of future television rights revenue and stakes of their Barca Studios media production company so that they could make new signings.
Players that Barca brought in ahead of 2022/2023, such as Robert Lewandowski, helped the Blaugrana lift their first La Liga title in four years and a maiden Spanish top flight crown under head coach Xavi Hernandez.
A year later, however, Barca are again struggling…
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A New Jersey family is suing DraftKings after a father of two gambled away more than $1 million of his family’s money across four years.
The man, known by his username Mdallo1990, allegedly lost $942,232.32 between Jan. 1, 2020, and Jan. 13, 2024, due to his gambling habits, according to a lawsuit filed on Thursday, Dec. 6, in New Jersey Superior Court.
The lawsuit, obtained by PEOPLE, claims the money belonged to the gambler’s wife, Lisa D’Alessandro – who he is separated from – and their two children.
DraftKings is accused of negligence, fraud and violating the New Jersey Consumer Fraud Act. D’Alessandro wants the company to return all of the money she claims Mdallo1990 “stole” from her and the kids, according to the…
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One of Russia’s largest microchip manufacturers, Angstrem (Zelenograd), has been declared bankrupt.
Source: The Moscow Times
Details: The company has been put under observation, and the decision to declare the debtor bankrupt was made at the request of Zenit Bank on 2 December 2024. As the case file shows, the court ordered in November 2019 that RUB 1 billion (about US$9.94 million) in compensation be paid out to Zenit by Angstrem, but the plant has not done so in more than six years.
The plant was a landmark for Russia and was supposed to become the largest player in the production of microchips. It was supervised by Leonid Reiman, a former communications minister close to Putin.
He received US$1…
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Dozens of customers of a Dublin-based windows and doors company that went into liquidation late last week have expressed anger and concern that money they paid as recently as two weeks ago will never be recovered.
One couple who contacted The Irish Times said they stood to lose close to €50,000 after provisional liquidators from Grant Thornton were appointed by the High Court to DK Windows & Doors, a company based in Dublin 12 that has been supplying windows and doors to both developers and consumers since 2005.
The company – which boasts on its website of having featured in RTÉ’s Room To Improve series – said in a petition to the High Court, that it had built up €1.5 million of customer deposits but had run out of cash.
It has…
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This article was updated on March 8, 2024
The exit from bankruptcy of Derek Quinlan, the boom-time property investor, has been delayed after a move by his trustee to suspend his discharge.
Quinlan, 76, who once owned trophy homes in New York, Mayfair in London and Saint-Jean-Cap-Ferrat on the French Riveria, was due an automatic discharge from bankruptcy in November.
This has been suspended for a full hearing of an application by the trustee in his case.
The former financier was declared bankrupt in November 2022. The reason why he has not emerged from bankruptcy is unclear.
A spokesman for Adrian Hyde of Begbies Traynor, the trustee, would say only that the case was “ongoing”. Quinlan declined to comment.
A court-appointed trustee is charged