The lifeboat fund told Professional Adviser that so far it has received 1,464 claims against the firm, all relating to its actions as SIPP operator.
On 31 August 2022, Rowanmoor directors appointed Adam Stephens and Christopher Allen as joint administrators.
Stephens and Allen will continue to run Rowanmoor’s business and will try to find a new SIPP operator to take over the administration of its SIPPs. Pension assets are held by Rowanmoor Trustees, which has not entered administration.
The FSCS has said that the joint administrators will be writing to clients of Rowanmoor to expl…
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Church leaders in Africa have called for large-scale debt cancellation to relieve the continent’s crushing debt burden. Source: The Tablet.
According to the African Development Bank, Africa’s total external debt stood at $US1.15 trillion in 2022 and rose to $1.52 trillion in 2023.
The Church leaders met on July 19 in the Rwandan capital Kigali, issuing a statement to the G20, G7, United Nations, IMF and World Bank that warned that Africa will spend $90 billion servicing public debt in 2024 alone, undermining its development.
The Kigali meeting was meant to prepare for the Church’s 2025 Jubilee Year, but the worsening debt burden led the Church leaders to emphasise…
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Former Montreal Canadiens player Steve Bégin announced Thursday that he must declare bankruptcy.
The 46-year-old ex-hockey player confirmed the news in a Facebook post.
“The civil engineering company in which I had been proposed to invest large sums of money since 2013, has gone bankrupt, which has had a negative impact on my financial situation and consequently also caused a bankruptcy. I could have tried to avoid the subject, but opted to talk openly about it, as I believe there are lessons to be learned,” he wrote.
“I find this experience very trying, disappointing and above all hurtful for me and those close to me, but as always, I’ll keep pushing forward to achieve great projects despite this ordeal,” he…
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Governor: All qualifying hospitals, including SAMC, ECU Chowan, join debt relief plan The Daily Advance
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The Law Council of Australia is calling on the Federal Government to provide Higher Education Loan Program (HELP) relief to increase the number of lawyers living and working in regional, rural and remote (RRR) locations.
Law Council of Australia President Luke Murphy said about a third of the Australians lived outside capital cities but less than 10 per cent of solicitors practised in a RRR location.
“This workforce shortfall adversely impacts access to justice for people who live in these underserviced regions,” Mr Murphy said.
“It can be very difficult for them to access timely legal assistance on issues ranging from criminal law matters, family law, child protection, tenancy matters, social security matters,…
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Tally, a credit card debt management platform, has closed its doors due to a lack of funds to run its operations, founder and CEO Jason Brown said in a LinkedIn post Monday.
The nine-year-old fintech decided to shut down after considering all alternatives, underscoring the current difficulties facing financial technology companies.
“This was not the outcome we had hoped for, but after exploring all options, we were unable to secure the necessary funding to continue our operations,” Brown wrote without clarifying when the company notified its staff and customers about its decision.
According to the company, Tally’s automated debt manager is the first of its kind, letting…
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Nate from Richmond, Virginia, finds himself in a conundrum. He holds a college degree from an “expensive” school, but it hasn’t helped him achieve the high-paying career he anticipated. It’s having an effect on both his finances and relationships at work, he told radio personality Dave Ramsey on an episode of “The Ramsey Show” July 16.
“I have almost $100,000 in student loan debt,” the 26-year-old said. “I don’t really need the degree that I have to be in the job that I’m in, so a lot of my co-workers are saving $500, $600 or just have that much money to play with.”
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Ramsey had a blunt response: “Who…
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CHENNAI: The special fund packages and the corpus infused by the Centre have helped the cash-starved BSNL to cut its debt to Rs 23,297 crore in March 2024 from Rs 40,400 crore in March 2022.
In his reply to a question raised in Rajya Sabha, Union Minister of State for Communications Dr Premmasani Chandra Sekhar noted that leading telecom firm Bharti Airtel had a debt of Rs 1,07,624 crore on March 31, 2022, which went up to Rs 1,25,983 crore in 2024. During the same period, Jio Infocomm witnessed its debt going up to Rs 52,740 crore from Rs 42,486 crore.
The worst was Voda Idea Limited, which is saddled with a whopping debt of Rs 2,07,885 crore (March 2023), the minister added.
As part of the revival steps taken by BSNL in 2019, the…
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Senator Rod Culleton has been declared bankrupt by the federal court in Perth, which would disqualify him from parliament, but he has vowed to fight on.
Culleton, who was elected as part of Pauline Hanson’s One Nation before quitting the party this week, was found bankrupt following action taken by a creditor.
Under Section 44 of the Australian constitution, a person is not allowed to continue as a member of federal parliament if he or she is an undischarged bankrupt or insolvent.
“You’ve just executed me … before I bleed to death,” Culleton was heard to say to the judge after the decision. “You have just given my estate away.”
The WA district court had ordered Senator Culleton to pay former Wesfarmers director Dick Lester…
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Intended to streamline council payments and HR systems, the flagship system was expected to cost £19m. But after three years of delays, it was revealed in May it could cost up to £100m.
On Tuesday evening, the government’s Department for Levelling Up, Housing and Communities (DLUHC) said it had been “engaging regularly” with the council in recent months over the “pressures it faces”, and had “expressed serious concern over its governance arrangements”.
“We have requested written assurances from the leader of the council that any decision regarding the council’s issues over equal pay represents the best value for taxpayers’ money,” it added.
Mr Cotton, who is not currently in the city due to “long standing family commitments”, insisted to…