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.
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(Bloomberg) -- Uber Technologies Inc. is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance
Republika Srpska Finance Minister Zora Vidović said that Republika Srpska will allocate 25.5 million BAM from the budget next year
The company writes this in a short press release. “The board of directors of the Company has this evening decided
Elon Musk has warned Bill Gates could go bankrupt in the future if Tesla meets one condition.They are two of
MPI drops allegations of fraud against Gloriavale honey company after liquidation  The Press Read the original article here
BANGKOK: Thailand's cabinet on Wednesday (Dec 11) approved debt support measures, including interest suspensions and reduced principal payments, to help
UN chief says debt relief tools far from adequate  Reuters Read the original article here
Katies was once a staple of the Australian fashion industry but the brand will be lost to time as its
"Whether through a remortgage or a second charge mortgage, debt consolidation can be a practical and valuable solution
Nicheliving directors save failed company from liquidation  MSN Read the original article here
Hoosiers value education beyond high school but need help understanding how to pay for college and avoid student loan

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Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

This can be done through the following steps:

1. Open the settings menu by clicking the hamburger menu in the top right

2. Choose “App Settings” from the menu

3. Turn on the option “Links Open Externally” (This will use…

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(Bloomberg) — Uber Technologies Inc. is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance requirements, saying they may unintentionally leave thousands of drivers in one of the company’s largest markets unable to insure their vehicles.

Uber prepared written comments ahead of a public hearing to be held Wednesday by the Taxi and Limousine Commission, or TLC, regarding the proposed requirements. As part of these changes, the regulator would add language requiring all TLC-licensed vehicles — including yellow cabs and rideshare cars — to be covered by an insurance policy issued by a “solvent and responsible company authorized to do business” in New York. It would also require…

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Republika Srpska Finance Minister Zora Vidović said that Republika Srpska will allocate 25.5 million BAM from the budget next year to support the economy with new technologies, and noted that the RS debt is not growing, as the opposition claims, but is falling.

“The public debt of Republika Srpska was the highest in 2005, at 53.68 percent of GDP, and now it is 33.33 percent. The debt is not growing, as the opposition claims, but falling. Republika Srpska will not go bankrupt, no matter who claims it. Better days are coming for us next year because we are fulfilling all obligations and implementing the agreed budget consolidation,” said Vidović in her closing remarks on the proposed Republika Srpska budget for next year, which…

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The company writes this in a short press release. “The board of directors of the Company has this evening decided to file for bankruptcy. The board decision is unanimous and is due to the fact that there is no longer a realistic opportunity to raise sufficient capital to continue operations. The bankruptcy petition will be filed this evening,” reads the announcement, which was published on 10 December.

There had been signs that the company was not in a good position: Teco 2030 had only announced a strategic reorganisation of its business in September. The original business idea of producing its own fuel cell systems was abandoned in favour of licensing the company’s own technologies. Instead of investing in expensive production,…

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Elon Musk has warned Bill Gates could go bankrupt in the future if Tesla meets one condition.

They are two of the most powerful and richest men on the planet, but they often don’t seen eye to eye.

Back in April 2022, Musk said he refused a philanthropy request from Gates over the stock shorting incident, which was revealed by screenshots of a text exchange between the pair.

The Tesla CEO asked Gates if he still had a ‘half billion dollar short position against Tesla’, to which the Microsoft founder replied: “Sorry to say I haven’t closed it yet […] I would like to discuss philanthropy possibilities.”

Musk says he couldn’t take Gates’ climate change philanthropy ‘seriously’ when he has a ‘massive short position against…

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MPI drops allegations of fraud against Gloriavale honey company after liquidation  The Press

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BANGKOK: Thailand’s cabinet on Wednesday (Dec 11) approved debt support measures, including interest suspensions and reduced principal payments, to help tackle household debt, Prime Minister Paetongtarn Shinawatra said.

The measures will help retail borrowers and smaller businesses, she told a press conference.

Finance Minister Pichai Chunhavajira told reporters the cabinet also agreed to allow banks to pay a reduced annual contribution of 0.23 per cent of their deposits to the Financial Institutions Development Fund (FIDF) for three years.

The reduced FIDF contributions would help banks support debtors, officials have said.

Banks currently must pay an annual regular contribution rate of 0.46 per cent of their deposits to the FIDF,…

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UN chief says debt relief tools far from adequate  Reuters

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Katies was once a staple of the Australian fashion industry but the brand will be lost to time as its remaining 80 stores are shut for good in January.

The closures are one lever being pulled in a delicate bid to stabilise parent company Mosaic Brands, which recently entered voluntary administration owing creditors almost $250m.

Launched in Australia in the mid-1950s, Katies was known for its range of stylish fashion offerings and grew to more than 150 stores nationwide.

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However, experts say management had neither adapted to recent market conditions nor allowed it to stand out from other retailers within Mosaic’s stable.

“Mosaic Brands had overlapping brands targeting similar…

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“Whether through a remortgage or a second charge mortgage, debt consolidation can be a practical and valuable solution for those needing to restructure their finances.”

The ongoing cost-of-living crisis has left many households struggling to manage their finances. Rising food and energy bills continue to squeeze disposable incomes, with over half of respondents in Pepper Money’s latest Specialist Lending Study reporting a decrease in their available funds. As a result, 61% of people said they are concerned about their financial situation, while 78%…

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Nicheliving directors save failed company from liquidation  MSN

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