Pope Francis has made headlines as he calls on the wealthier nations and institutions to reduce or potentially cancel debt owed by poorer countries. This plea, rooted firmly within the framework of global justice, aligns itself with the upcoming Vatican Jubilee Year slated for 2025, which opens new avenues for hope and renewal.

During his address, delivered at the Vatican, the Pope emphasized the pressing need for significant re-evaluations concerning international debts, stating, “Many nations find themselves unable to settle their outstanding debts.” He urged for substantial changes, alluding to the need for solidarity among nations so as to break free from the continuous cycles of debt and dependency.

The embattled German shipbuilding group FSG-Nobiskrug Holding along with its two shipyards and its design group have been provisionally declared insolvent by a German court due to a filing by an insurance company. Investor Lars Windhorst, who has controlled the group since a prior insolvency filing in 2020, is vowing to fight the proceeding and use it as an opportunity to reorganize the group.

The Flensburg District Court today, December 12, accepted the filing made by a health insurance company starting the insolvency process. The court named two prominent German lawyers, Christoph Morgen and Hendrik Gittermann, both well-known in restructuring cases as provisional insolvency administrators to oversee the operations, but…

Racking up expensive credit card debt is a dangerous route to take in nearly any economic environment, but it’s only become more risky in recent years. Not only are credit card interest rates sitting at historic highs of over 23% right now, but the cost of daily living expenses is continuing to climb as inflation ticks back up. So, if you’re allowing your credit card balances to roll over month after month, you’re running the risk of your debt ballooning out of control at a time when necessities are comprising a…

Paidly Inc., a financial technology company revolutionizing the approach to student loan assistance, announces the successful closing of its Series A funding round with S30Build, LLC. 

The investment from S30Build, LLC will strengthen Paidly Inc.’s mission to alleviate the burden of student loan debt and provide groundbreaking HR benefit solutions to employers. The funding will enable Paidly to enhance its platform and expand its reach, delivering even greater value to both employers and employees. The partnership underscores Paidly’s ability to make a meaningful impact when addressing the challenges posed by student loan debt.

Commenting on the investment, Paidly CEO John Scully stated, “We are delighted…

CHICAGO – Governor JB Pritzker today signed an executive order launching a statewide effort enlisting multiple state agencies to explore how Illinois can accelerate plans to expand the supply and access of housing for working families. Additionally, as part of an ongoing commitment to lower housing costs, Governor Pritzker announced the return of SmartBuy, a program providing direct monetary assistance to pay off student loan debt for those buying a home in Illinois. ​ Together, these actions seek to address the shortage of attainable homes for working families…

The Insolvency and Bankruptcy Board of India (IBBI), recognising the growing need for an out-of-court resolution mechanism within the existing insolvency framework, has proposed a Creditor-Led Resolution Process (CLRP) as an alternative model for resolving corporate distress. The proposed framework gained its fundamental elements from various sources i.e., the RBI Framework 2019 and other existing ‘out-of-court’ creditor-led processes in India, international models of ‘out-of-court’ insolvency resolution, and practical insights from the implementation of the Corporate Insolvency Resolution Process…