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[imagesource:wikicommons] Airports Company SA (ACSA) has been accused of publishing ‘fake’ financial reports after the company posted profits yet failed
The Iceland “microloans” range from £25 to £100, in the form of a prepayment card to be used in Iceland, and after the initial loan can only be taken out during school holidays. They are a way for those who cannot ordinarily get credit to afford essentials during periods of strain, and pay them back when times are calmer.
For the customers, of whom 18.7% said they had used credit to pay for food and other essentials in the past, there was a three-quarters reduction in the use of loan sharks.
More than nine million adults in the UK were refused credit in the 12 months from April 2022, while 23% of people said in early 2023 the cost of living crisis had driven them to borrow more. Around one million people in the UK borrow…
By Martin Croucher · December 5, 2024, 12:36 PM GMT
Company bosses and their insurers could face increased claims next year from a predicted rise in corporate insolvencies and class actions, Allianz warned Thursday….
For many credit card users, a debt forgiveness plan may be worth pursuing this month.
Getty Images/iStockphoto
Credit card debt continues to rise, with balances up by $24 billion in the third quarter of 2024, according to the Federal Reserve. Americans now owe a record $1.17 trillion as consumers turn to their credit cards to cope with the fallout from inflation surges in the post-pandemic era. Delinquency rates also remain high, even after improving slightly for cards in the third quarter.
The Cayman Islands: A Leading Jurisdiction for Investment Fund Insolvency and Restructuring.
by: Mark Goodman,Partner at CampbellsCayman Islands
In the ever-evolving landscape of global finance, the Cayman Islands has established itself as a premier jurisdiction for handling complex insolvency and restructuring cases, particularly for investment funds. With its robust legal framework, creditor-friendly system, and deep expertise in cross-border insolvency matters, the jurisdiction offers unparalleled advantages for investors and practitioners alike.
In this exclusive interview, Mark Goodman, Partner at Campbells, provides expert insights into the key features that make the Cayman Islands so attractive for insolvency and…
Airports Company SA (ACSA) has been accused of publishing ‘fake’ financial reports after the company posted profits yet failed to mention its debt of hundreds of millions or rands dating back several years.
According to IOL, the accusations are included in a document filed with the high court of Johannesburg last week by a service provider who has applied for ACSA’s liquidation for failing to pay the provider for services rendered at O.R Tambo International Airport.
ACSA is also apparently facing another liquidation application this week.
The service providers say they are facing significant cash flow problems which may result in the airports being placed at risk after they detailed the…
Jay Leno has sparked a wild conspiracy theory after suffering a 60-foot fall down a hill that left him with significant bruising to the left side of his face, an eyepatch and a broken wrist.
Despite revealing that his injuries were sustained during his nasty tumble while staying at a Hampton Inn, social media users began speculating that the 74-year-old comedian, whose net worth is estimated to be around $450 million, might be lying.
Some conspiracy theorists on X (previously known as Twitter) shared a number of unsubstantiated theories that he was the victim of loan sharks, the mafia or someone he has ‘dirt on.’
Others joked that Conan O’Brien finally got his revenge on Leno following their bitter and lengthy feud involving NBC’s…
The African Development Bank has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges.
The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria that strategic borrowing and political stability were critical for growth.
Speaking on Nigeria’s debt profile, Urama, the AfDB’s Chief Economist, said that public debt itself was not inherently problematic.
“Debt for growth is a known way of growing economies. However, the quality and structure of the debt are crucial factors in determining its long-term impact,’’ he said.
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