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.
India’s insolvency regulator, the Insolvency and Bankruptcy Board of India (IBBI), has proposed that MSMEs undergoing insolvency resolution should disclose
Mary Anne e-mailed, after reading my last column about estate debts, asking how to stop incessant collection efforts by the Canada Revenue Agency (CRA).
Her brother died four years ago with nothing of assets and a debt owing to the CRA.
I’m guessing the CRA found out she was brother’s executor when she applied for the CPP death benefit to help pay for the funeral. She’s been receiving collection notices ever since.
Her nephew (deceased brother’s son) has also been getting collection notices.
I shared in my last column that an executor has no obligation to look after an estate. You can leave it be. Being named executor does not impose any obligation to engage in an estate and pay estate debts.
On June 4, Suraksha Group took control of JIL following the insolvency appellate tribunal NCLAT decision on May 24, upholding its bid to acquire JIL.
4 min read Last Updated : Aug 25 2024 | 4:10 PM IST
Suraksha Group has infused Rs 250 crore in Jaypee Infratech after acquiring it through insolvency process and has also arranged a Rs 3,000 crore loan facility, as it gears up to complete around 20,000 unfinished flats in Delhi NCR.
Around Rs 1,000 crore cash is lying in the balance sheet of the Jaypee Infratech Ltd, which the bankrupt company has accumulated from real estate business and toll income of Yamuna Expressway that connects Greater Noida and Agra.
According to sources, Suraksha Group has infused Rs 250 crore in…
Customers were left out of pocket, without a holiday and with no refunds provided
Travel agents Felix Travels and Tours Limited has been wound-up at the High Court after customers complained they had not received the holiday they paid for
In some cases, trips were cancelled at late notice and holidaymakers had to pay for transfers, accommodation and ski and park passes again
Around 300 customers are owed refunds totalling almost £600,000
A travel agency has been shut down after cancelling holidays at short-notice and not providing holidaymakers with the services they paid for.
Felix Travels and Tours Limited (FTT) was wound-up at the High Court in London on Tuesday 2 July.
Major League Baseball and the Internal Revenue Service are investigating amid allegations surrounding Los Angeles Dodgers two-way star Shohei Ohtani and his longtime interpreter Ippei Mizuhara.
The investigations are underway just two days after Mizuhara, a longtime interpreter for the Japanese baseball superstar, was fired after the player’s lawyers accused him of “massive theft” of millions of dollars and placing bets with a bookmaker under federal investigation, according to ESPN and the Los Angeles Times, which first reported the story.
“Major League Baseball has been gathering information…
Bridget Archer The conversations are not going to be less hard to have if we don’t actually get on and have those conversations and resolve these issues rather than pretending that they don’t exist.
Leon Compton Bridget Archer, I know your knitting is concentrated on state sort of federal issues, are you worried about the state budget and the trajectory that it is on according to Saul Eslake’s report earlier in the week? Does it concern you?
Bridget Archer Yes well of course it concerns me and I think you know it should be of concern to everyone. I think it is really important and valuable and worthwhile that that piece of work has been undertaken and then it is just a question I think of what measures are put in place to deal with that. But…
Searches for gambling applications on the Google Play store and Apple AppStore have seen an increase over the past 12 months
49% of London respondents are funding their gambling activity with credit products – 2.2 times higher than the national average
20% see gambling as a quick fix to money problems
Lowell’s recent Financial Vulnerability Index (FVI) showed London had the highest use of alternative financial products in the UK
A new nationwide report found that 49% of London residents who gamble are funding their gambling activity with credit products, 2.2 times the national average, and the highest of regions across the UK.
Lowell’s research on attitudes towards gambling also revealed that 20% of respondents…
In view of the strained financial situation of the Himachal Pradesh government, Principal Advisor (Innovation, Digital Technologies and Governance) to Chief Minister Sukhvinder Singh Sukhu, Gokul Butail has voluntarly decided not to draw his monthly salary of Rs 2.5 lakh until the end of the 2024-25 fiscal year.
Butail will only accept an honorarium of Rs 1 per month till December 31. He was was appointed as the principal advisor with a Cabinet rank in January last year.
The official order in this regard were issued by Chief Secretary of Himachal Pradesh Prabodh Saxena on August 16 following Butail’s request. “The Governor of Himachal Pradesh has approved the substitution of the amount specified from Rs 2,50,000 per month to a token…
Mumbai: Anil Dhirubhai Ambani Ventures Pvt. Ltd (ADAVL) has filed a fresh interlocutory application in the National Company Law Tribunal (NCLT) seeking the court’s intervention to direct Hinduja Group-owned IndusInd International Holdings Ltd (IIHL) to stop using the brand ‘Reliance’ once the resolution plan is implemented.
In February, the NCLT had approved IIHL’s takeover of the insolvent Reliance Capital (RCap). As per the order, while approving the resolution plan the NCLT had allowed IIHL, the successful resolution applicant, to use the brand, logo, name and trademark owned, licensed or sub-licensed by RCap , subject to the payment of fees under the existing agreements, and subject to the terms and conditions set in those…
India’s insolvency regulator, the Insolvency and Bankruptcy Board of India (IBBI), has proposed that MSMEs undergoing insolvency resolution should disclose whether they are formally registered as a micro, small or medium enterprise with the government.
In accordance with the MSME Development Act, 2006, enterprises are required to register on the MSME Ministry’s Udyam Registration portal for access to formal credit along with various government schemes.
Disclosing registration status as an MSME, said IBBI in a discussion paper on August 23, will likely reduce information asymmetry in the resolution process for such enterprises and encourage greater participation from units who may have otherwise been uncertain about their…
Three million graduates will have their student loans reduced by an average of $1200 in next week’s budget, but not have any extra money in their pockets.
However, in an unrelated move, hundreds of thousands will also be financially better off when repayment thresholds to student loans are changed on July 1.
If you can’t pay off your credit card, one option could be to consolidate your high-interest credit card debt into a type of credit with a lower interest rate, such as a personal loan.
However, Barton says your credit score will be a factor in what sort of interest rate you’d be able to get, or whether you can qualify for a personal loan at all.
She says people with a mortgage can also consider consolidating their credit card debt into their home loan, which will have the benefit of an even lower interest rate than a personal loan but comes with the risk of putting your home on the line, should you fall behind in your mortgage repayments.
More than three million Australians have been hit with an increase to their student loan debt due to indexation.
The education minister has told students the increase will drop due to forthcoming legislation.
But there have been calls for the government to change indexation so it’s not applied on amounts already repaid.
More than three million Australians have been slugged with a student loan hike, despite growing calls for a system overhaul.
HELP debt (such as HECS-HELP) goes up annually due to indexation — where inflation figures are used to increase the debt amount to reflect what cash is worth in today’s dollars.
On Saturday, loans jumped 4.7 per cent, the second-highest increase in a decade, after last year’s rise of 7.1…
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