According to a March 2021 Forbes Advisor article, women spend more time researching their investment choice and are more likely to take on appropriate levels of risk with their investments than men, resulting in better investment outcomes. Their research also found that women are less likely to chase hot tips and, as such are more likely to hold investments for the long term.
Women are also more likely to stay calmer in market downturns which protects them from locking in their losses. That said, while women tend to be better investors which sets them up well for the future, there are certain things that can weaken womens financial positions and leave them financially prejudiced.
An inappropriate marital regime
Very often, marrying coup…
Read the full article at: https://www.moneyweb.co.za/financial-advisor-views/these-things-can-leave-women-financially-vulnerable/
A woman has appeared in court accused of fraudulently disposing of property by giving 75,000 to a relative while declared bankrupt.
Barbara Bentley appeared at Ipswich Crown Court on Wednesday to deny the charge.
The 59-year-old spoke only to confirm her name andher date of birth, and to enter a not guilty plea.
Bentley, of Yeoman Crescent, Hadleigh, is charged with fraudulent disposal of property by making a gift of 75,000 to her son, while declared bankrupt, on March 13, 2017.
Judge David Pugh entered the case for trial on a two-week warned list to begin during the fortnight commencing July 4 next year.
The trial is expected to last between three and four days at Ipswich Crown Court.
Bentley, represented by barrister Isobel Ascherso…
Read the full article at: https://www.ipswichstar.co.uk/news/crime/barbara-bentley-bankruptcy-disposal-ipswich-court-plea-8210682
Terence Loh, who allegedly tried to complete a takeover of Newcastle last year, has been declared bankrupt according to a report.
2020 was a wild time for the never-ending Newcastle takeover saga, with not just Amanda Staveley seemingly trying to complete a deal.
In April last year, PCP Capital Partners agreed a deal to buy the club from Mike Ashley.
However, complications emerged when the wannabe owners were subjected to the Premier Leagues Owners and Directors test.
As cracks appeared to be forming, a new name entered the picture in June 2020 Henry Mauriss.
It was reported by the Guardian that the American businessman was launching a rival bid, and he too had the cash to take the club off…
Read the full article at: https://www.geordiebootboys.com/news/terence-loh-newcastle-takeover-bankrupt/
“Many people have had to turn to various types of credit in order to keep their heads above water, and so have found themselves leaving lockdown with more debt to their name than when they entered it.”
For some mortgage advisers, the obvious role for a second charge mortgage is to help their clients who currently have a range of loans/debts that they want to bring together into a single, more manageable loan.
Theres no question that second charge mortgages have an integral role to play when it comes to tackling debt. Even in normal times, there were significant numbers of borrowers across the country who had taken out a handful of different forms of credit, and so were juggling the difficulties that come from keeping on top of the …
Read the full article at: https://www.financialreporter.co.uk/blogs/theres-more-to-seconds-than-debt-consolidation.html
A bench of Justices Indira Banerjee and V Ramasubramanian set aside an order of National Company Law Appellate Tribunal (NCLAT) by which it had said that application under section 7 of Insolvency and Bankruptcy Code (IBC) of Dena Bank (now Bank of Baroda) for initiation of insolvency process was time barred.
The bench said, To sum up, in our considered opinion an application under Section 7 of the IBC would not be barred by limitation, on the ground that it had been filed beyond a period of three years from the date of declaration of the loan account of the Corporate Debtor as NPA, if there were an acknowledgement of the debt by the Corporate Debtor before expiry of the period of limitation of three years, in which case the period of l…
Read the full article at: https://www.livemint.com/news/india/insolvency-plea-by-financial-creditors-exempt-from-3-year-time-limit-sc-11628093099518.html
The report says this exposes the parastatal to possible seizure of its assets by the lender. [Courtesy]
Cash-strapped National Oil Corporation of Kenya (Nock) lost nearly half a billion shillings in a single financial year, raising its accumulated losses to over Sh3 billion.
In addition, the auditor general report states that the State-owned corporations current liabilities stand at Sh7.5 billion, more than its current assets estimated at Sh2.3 billion.
Nock is further on the spot for defaulting a loan from Kenya Commercial Bank (KCB) amounting to Sh3.7 billion.
The report says this exposes the parastatal to possible seizure of its assets by the lender.
Auditor General Nancy Gathungu, in a report for the year e…
Read the full article at: https://www.standardmedia.co.ke/business/article/2001420046/broke-national-oil-lost-sh500m-in-single-year-risks-auction
The company owning Chronos Cares two aged care homes in Melbourne, founded by brothers Chris and Gerry Apostolatos who within weeks were declared bankrupt, has gone into voluntary administration six days before it was required to return deposits to families of former residents.
Administrator PCI Partners has assumed control of the day-to-day operation of Cronos Cares aged care homes in Alphington, 7km north-east of Melbournes CBD, and Mount Eliza, 63km south of Melbournes CBD, after Chronos Cares holding company Mali Nominees Pty Ltd went into administration on 30 July.
The company had been ordered by the Federal Governments Aged Care Quality and Safety Commission to return the deposits by 5 August or be stripped of its status as an a…
Read the full article at: https://www.theweeklysource.com.au/bankrupt-brothers-aged-care-homes-into-administration-days-before-residents-families-deposits-had-to-be-paid/
Vijay Mallya, the fugitive former head of Indias United Breweries and United Spirits, is bankrupt.
The 65-year-old, who lost his final court battle against extradition to India in May 2020, was formally declared bankrupt in the London High Court yesterday. The ruling has immediate effect.
Mallya is required to hand over his remaining assets, as well as his bank and credit cards to a bankruptcy trustee who will investigate his affairs and establish his true assets and liabilities, with a view to selling assets and repaying creditors. They include both United Spirits and Diageo, its parent company.
Legally he must cooperate with the trustee. All his bank accounts will be frozen, apart from money to buy essentials. He is banned from actin…
Read the full article at: https://www.thedrinksbusiness.com/2021/07/vijay-mallya-has-been-declared-bankrupt/
Casinos are always an exciting topic to explore in movies. From secret agents to daring heists, a prestigious casino always provides a thrilling story. Its a creative way to turn an ordinary situation into a high-stakes one. Read on to discover the best poker casino movies.
Why Are Casino Movies So Popular?
While physical casinos have already cemented their status in mainstream media, they can still feel unfamiliar to many people. The rise of online gambling has allowed almost everyone to play iconic games like poker from the comfort of their homes. Expert Nina Olsendburg believes that casino movies have risen in popularity as many more people can now understand and enjoy what is happening on screen.
This is especially true in Norway,…
Read the full article at: https://www.netnewsledger.com/2021/08/04/the-most-famous-and-best-poker-and-casino-movies/
With more than two decades of experience, Hyman focuses his practice on the representation of domestic and foreign lenders in connection with in-court and out-of-court workouts and restructurings in both large and middle-market transactions. He has vast transactional experience representing agents and other secured creditors in order to maximize their recoveries in all types of distressed situations. Hyman represents lenders and other creditors in all aspects of bankruptcy, including negotiating restructuring support agreements and debtor-in-possession financing facilities.
“Rick has worked with some of the largest financial institutions in the world, both in the U.S. and international markets,” saidPhilip T. Inglima, chair of Crowell …
Read the full article at: https://www.prnewswire.com/news-releases/experienced-financial-restructuring-and-transactional-insolvency-lawyer-frederick-rick-hyman-joins-crowell–moring-301348140.html
The Supreme Court on Wednesday ruled that plea by financial creditor for initiation of insolvency resolution process against a corporate debtor before the adjudicating authority will not get time barred on the ground that it had been filed beyond a period of three years from the date of declaration of the loan account as NPA.
A bench of Justices Indira Banerjee and V Ramasubramanian set aside an order of National Company Law Appellate Tribunal (NCLAT) by which it had said that application under section 7 of Insolvency and Bankruptcy Code (IBC) of Dena bank (now Bank of Baroda) for initiation of insolvency process was time barred.
The bench said, To sum up, in our considered opinion an application under Section 7 of the IBC would …
Read the full article at: https://www.business-standard.com/article/companies/plea-for-insolvency-doesn-t-get-time-barred-even-if-filed-after-3-yrs-sc-121080401748_1.html
NEW YORK, Aug. 4, 2021 /PRNewswire/ —Crowell & Moring has expanded its Corporate Group in New York with the addition of partner Frederick “Rick” Hyman, a highly regarded financial restructuring and insolvency lawyer.
With more than two decades of experience, Hyman focuses his practice on the representation of domestic and foreign lenders in connection with in-court and out-of-court workouts and restructurings in both large and middle-market transactions. He has vast transactional experience representing agents and other secured creditors in order to maximize their recoveries in all types of distressed situations. Hyman represents lenders and other creditors in all aspects of bankruptcy, including negotiating restructuring support agre…
Read the full article at: https://markets.businessinsider.com/news/stocks/experienced-financial-restructuring-and-transactional-insolvency-lawyer-frederick-rick-hyman-joins-crowell-moring-1030689731