Insolvency Guardian Media Centre
- President-elect Donald Trump is unlikely to continue many of Biden’s student-debt relief efforts.
- Borrowers are still waiting for a final court decision on the SAVE student-loan repayment plan.
- Even if the plan survives the courts, Trump and GOP lawmakers could take steps to rein in relief.
During his two terms as president, Joe Biden has used various programs to cancel $175 billion in student debt for nearly 5 million borrowers. Those efforts will likely fizzle out over the next four years.
Two of Biden’s key debt-relief initiatives are tied up in court: his SAVE income-driven repayment plan, intended to make student-loan payments cheaper for borrowers, and his broader loan forgiveness plan, set to…
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Higher employment costs as a result of the budget may push more British businesses into financial difficulty, according to the UK’s largest insolvency practitioner.
Begbies Traynor said increased employment costs, as well as higher interest rates, would extend a period of “elevated insolvency levels”, in a statement to the stock market on Monday.
The Labour government last month raised taxes on business steeply to cover the cost of increased spending on the NHS, schools and the armed forces in its first budget for 14 years.
Rachel Reeves’s decision to raise employers’ national insurance contributions provoked a chorus of protests from businesses. Unlike corporation tax, a rise in national insurance contributions affects every…
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Media release
1 December 2024
Business failures continue to propel personal insolvency chain reaction
‘Trumponomics’ could trigger further bankruptcies, says insolvency solutions firm
Business-related personal insolvencies are on the rise, the latest quarterly figures from AFSA show. And geopolitical uncertainty – particularly ‘Trumponomics’ – could trigger greater numbers in 2025, warns insolvency and business turnaround specialist Jirsch Sutherland.
According to the September quarter 2024 New Personal Insolvencies from AFSA, over a quarter (27.9%) were business related, compared to 25.2% for the same period in 2023. “However, the level of personal insolvencies is still well below…
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EXCERPT: Edun and Cardoso are championing initiatives to ease debt burdens and foster financial integration across Africa.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Saturday mobilised their counterparts from the African Union (AU) to work towards the establishment of the African Monetary Institute (AMI) as well as the operationalisation of the African Financing Stability Mechanism (AFSM) – two key initiatives they believed have the potential to cure the continent from existing debt and payment system challenges.
The proposed AFSM framework seeks to provide debt refinancing loans at…
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‘Broken promises’ as luxury home builder hits liquidation Waikato Times
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Notably, he spent a decade as a partner at HWL Ebsworth, where he founded and led the Restructuring and Insolvency practice in Perth. He also has experience as a lawyer at Minter Ellison.
“Ashurst’s reputation as a leading global firm with a strong record in the restructuring and insolvency space in Australia and the Asia Pacific region will support me to provide a broad range of solutions to clients. I am eager to work with the talented team at Ashurst and contribute to the firm’s continued success,” Johnson said.
Scott brings a wealth of experience in disputes and investigations, regulatory enforcement, and white-collar crime. She focuses on corporate, regulatory, workplace, and safety investigations, with a…
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The bench found that as far as the ‘going concern’ sale in liquidation is concerned, there is a clear difference that only assets are transferred and the liabilities of the Corporate Debtor have to be settled in accordance with Section 53 of the Code
In a recent case, the Mumbai bench of the National Company Law Tribunal ( NCLT ) has held that only assets are transferred in a sale of the corporate debtor in liquidation as a going concern and liabilities have to be discharged as per section 53 of the Insolvency Bankruptcy Code ( IBC ), 2016…..
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Trumponomics a trigger for insolvencies The Australian
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Following the rising global inflation, business insolvencies are forecast to increase in all world regions in 2023, increasing by almost 50 percent in North America. Following a sharp increase with the 2008-09 financial crash, the number of business insolvencies in North America declined each year from 2010 to 2019. Perhaps somewhat surprisingly, except for Eastern and Central Europe and Latin America, the number of insolvencies fell in all regions in 2020, despite the COVID-19 pandemic.
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CP
Cathro & Partners
Cathro & Partners are experts in providing insolvency and restructuring services that help to create and preserve business value. With a reputation for delivering high quality results, we can assist your business to overcome strategic and financial challenges. You can rely on our team to find the right solution for you and protect the interests of stakeholders. We pride ourselves on identifying tailored solutions for your business.
…
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Leading the high-profile moves this week, White & Case has hired Richard Browne as a partner into its global M&A practice. Recognised as a , Browne joins from A&O Shearman.
Browne began his career at legacy A&O in 1993 and later went on to serve as global co-head of the corporate practice and head of corporate in London. His expertise includes corporate governance and disclosure advice for FTSE 100 and 250 companies and other international corporations.
The hire comes after White & Case saw the return of Patrick Sarch to its global M&A practice in London in February. Sarch, who now heads up UK public M&A, worked at White & Case between January 2017 and March 2021, moving to Hogan Lovells in March 2021.
‘We are…
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On 6 November 2024, the Federal Court dismissed the Australian
Securities and Investments Commission’s (ASIC)
case against Paul Ryan, a director of Dixon Advisory &
Superannuation Services Pty Limited (DASS). The
case alleged that Mr Ryan had breached his directors’ duties by
failing to consider the interests of DASS’ creditors when the
company was approaching insolvency.
The findings from this case demonstrate that a director who acts
in good faith, reasonably relies on professional advice, and
independently assesses the assumptions behind that advice may be
able to successfully defend against claims of breaching their
duties as a director when making decisions when facing a potential
insolvency.