Insolvency Guardian Media Centre
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The World Bank’s 2024 report, “Poverty, Prosperity and Planet,” presents a sobering forecast for global poverty reduction efforts. At the current rate, lifting half of the world’s population out of poverty could take over a century. This projection underscores the urgent need for effective international development strategies to address global poverty reduction challenges.
The report reveals that nearly 40% of the global population lives below $6.85 a day, with recent economic setbacks worsening this outlook. Limited access to education, job opportunities and resources creates significant barriers to economic advancement for many individuals, hindering global poverty reduction progress.
Global Poverty Reduction:…
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NEW DELHI, Dec 9 — Indian police used tear gas and pepper spray on Friday to stop dozens of farmers who were trying to reach Delhi from the northern breadbasket state of Punjab to press a series of demands.
Here is a look at why farmers are marching to the capital again.
What are farmers demanding?
Farmers are seeking legally-backed guarantees of more state support or a minimum purchase price for crops.
Prime Minister Narendra Modi’s government, following a year-long protest, repealed some farm reform laws in 2021 and committed to setting up a panel to find ways to ensure support prices for all produce. Farmers now accuse the government of going slow on that commitment.
Protesters also want the…
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Located in Basildon, Home Drainage Protection Service Ltd ‘bombarded’ pensioners and people suffering from medical conditions with up to 20 calls a day, allegedly using ‘abusive’ language and ‘threatening to call the police or bailiffs’ if the call receiver did not sign up to their proposals.
The company claimed to provide replacements and repairs to plumbing and drainage as well as protection plans for items such as satellite equipment and household appliances.
Insolvency Service investigations found no evidence that such cover was ever provided to customers.
Home Drainage Protection Service was seen at the High Court in London on Tuesday, December 3.
The firm also made unexplained payments, allegedly…
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Delta Air Lines exits bankruptcy Reuters.com
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Court documents show the debt was reduced to $203,000 through repayments or credits allowed by the time Mr Jane was served with a bankruptcy notice in March 2016.
The tyre titan was one of Mr Mitchell’s first clients when he opened his ad agency in the 1970s and the two remained friends, with Mr Mitchell writing in his memoirs that he presented Mr Jane with a penny at his 78th birthday.
Documents filed with the Australian Financial Security Authority show Mr Jane owes $105 million to the Australian Taxation Office for capital gains tax and owes other unsecured creditors $2.9 million.
That includes a $914,460 sheriff’s warrant for court costs, a separate $560,000 Supreme Court cost order, $2990 debt to a car insurer, $3292 in council…
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Caterer the latest to feel bite in Taranaki hospo trade The Post
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(Bloomberg) — For the past three years, steel tycoon Sanjeev Gupta has performed an extraordinary feat of corporate survival.
The British industrialist managed to keep most of his empire of steel plants even as creditors circled, concerns arose about alleged wrongdoing regarding trades and he faced probes for suspected fraud and money laundering.
Now his luck may be running out.
Gupta’s Speciality Steel UK Ltd. unit went to court in London Wednesday to try to avoid liquidation. The operator of plants in northern England proposed a restructuring plan that would see many creditors get almost none of the money they’re owed.
Gupta warned in court documents that without an agreement the company would cease operating and enter insolvent…
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Liquidated plant-based meat company Sustainable Foods owes Kānoa $1.4m BusinessDesk
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A total of 82 companies out of the top 100 bank defaulters of 2019, including some of the biggest companies run by prominent industrialists, landed in the National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code (IBC), 2016 and out of this, nearly one third of the companies went into liquidation over the years, suggesting banks would have hardly recouped any money, an investigation by The Indian Express reveals.
Since the IBC framework came into being in 2016, creditors i.e. banks had a way out. A status update of what happened to these top 100 defaulters shows that of the total 82 companies landed in NCLT, the corporate insolvency resolution process (CIRP) was initiated in 74 cases and as many as 28 companies went into…