Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Banxso’s Liquidity and Security Offer Raise Questions About Liquidation Motives MSN
Read the original article here
United Nations Secretary-General Antonio Guterres has expressed serious concerns over the adequacy of current debt relief mechanisms, calling for urgent reforms by the Group of Twenty (G20) nations. Speaking at an event in Johannesburg, Guterres offered scathing criticism of the G20’s ‘Common Framework’, introduced during the COVID-19 pandemic, as being insufficient for addressing global debt issues.
During a visit to South Africa—the first African nation to lead the G20—Guterres underscored the need for meaningful solutions that allow countries to meet basic needs and strive for long-term development. His remarks suggest a definitive call to action for enhancing the capacity of multilateral development banks and ensuring…
Read the original article here
Overview
The pandemic has created significant financial and operating challenges for all Australian businesses. While interim government fiscal support measures, and temporary changes to the insolvency regime such as the six month suspension of insolvent trading liability for directors, have helped to calm the storm and delay mass new insolvency filings, the fiscal cliff is fast approaching and the final quarter of 2020 will see an influx of insolvencies that will last well into 2021.
In this landscape, it is important for financiers to assess the insolvency risk across their loan and investment portfolios and consider their enforcement options and liability implications to ensure they are prepared for what lies ahead.
We…
Read the original article here
Introduction
The Corporate Insolvency and Governance Act 2020 (the “Act”) came into force in June 2020. It introduced a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK. The overarching objective of the Act is to promote the rescue of companies in financial difficulties by introducing a new “moratorium” procedure, a new “restructuring plan” procedure and new rules prohibiting the termination of contracts for the supply of goods and services by reason of insolvency (so called “ipso facto” clauses). The Act represents the biggest change to insolvency legislation in 20 years and has implications for:
- Supply chains
- Construction…
Read the original article here
German insurers are bracing themselves for significantly more payment defaults in the economic downturn and expect a noticeable increase in company insolvencies in 2024 and 2025.
Trade credit and surety insurers will have to cover losses of almost one…
Read the original article here
Abigail Van Buren DEAR ABBY: My only sister has been “borrowing” money from me every month for years. She has a ton of credit card…
Read the original article here
Nicheliving directors save failed company from liquidation MSN
Read the original article here
Nicheliving directors save failed company from liquidation
We’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later.
Read the original article here
Tips to help break the debt cycle: 9News Latest Stories Season 2024, Short Video 9Now
Read the original article here
ATO tackles Glory owner for $946,880 The West Australian
Read the original article here
Thailand Unveils Debt-Relief Measures to Cover $26 Billion Loans Bloomberg
Read the original article here
(Bloomberg) — Thailand unveiled a fresh set of debt-relief measures to cover millions of retail borrowers and small businesses struggling to repay loans, the latest bid by authorities to tackle the highest level of household debt in Southeast Asia.
An estimated 1.9 million debtors with about 890 billion baht of sticky loans ($26 billion) taken to purchase houses and automobiles and finance small and medium businesses from commercial banks and state financial institutions will be eligible for interest suspension for three years, Finance Ministry and Bank of Thailand officials said at a briefing Wednesday. They will also be offered a reduction in instalments of principal to ease the overall debt burden, they said.
The reprieve for…