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Expanding debt relief to support the agricultural sector

In addition to the small-debtor debt relief programme, the Finance Ministry is preparing to launch a parallel scheme for the agricultural sector, which faces different debt conditions — particularly seasonal debts affected by floods, droughts, and fluctuating crop prices.

The agricultural debt scheme will be implemented through the Bank for Agriculture and Agricultural Cooperatives (BAAC), which plans to establish an in-house Asset Management Company (AMC) to manage debt restructuring tailored to farmers’ needs. Agricultural debt, which differs in nature from typical household debt, will be handled under this smaller-scale programme, with total funding under 10 billion…

Bruno Mars may have laughed off the rumors, but fans can’t stop talking about them. Earlier this year, reports claimed the singer had racked up a serious a serious gambling debt to MGM Resorts during his Las Vegas residency, worth approximately $60 million.Though Mars has denied the claim, it continues to follow him.

The story originated from a NewsNation report alleging MGM “basically owned” Mars after years of high-stakes gaming at the company’s casinos. The source claimed Mars was using his residency at Park MGM to pay off the supposed debt. MGM quickly issued a statement calling the story “completely false,” praising its “mutual respect” and long-term partnership with the star. Still, the numbers raised eyebrows.

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Former senator Linda Reynolds’ bid to discover where Brittany Higgins’ $2.4 million compensation payout went following their bruising defamation battle has been frustrated by a bankruptcy paperwork glitch.

Reynolds successfully sued Higgins over social media posts the former defence minister believed damaged her reputation.

Reynolds was awarded damages of $315,000 plus $26,109 interest after Western Australia’s Supreme Court in August found some of the posts were defamatory.

The former political staffer was also ordered to pay 80 per cent of her former boss’s legal costs, estimated at more than $1 million.

In October, Reynolds launched bankruptcy proceedings in October against Higgins to recoup the costs awarded in her defamation…

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“The company made comprehensive efforts to evaluate all financing and other strategic alternatives, including a sale of its business and operations, to improve its financial condition. As part of those efforts, the company engaged numerous strategic and financial parties, but ultimately was unable to execute a viable going-concern transaction for its business and operations or obtain additional liquidity,” Sonder’s news release read.