Westpac CEO Peter King said: We recognise many of our customers need assistance following the increased lockdowns across Australia. We want customers to know there are a broad range of options to help businesses and individuals through this challenging period.
We are reminding customers that if they are facing financial difficulty, call us early so we can work through the most appropriate tailored options to support them, including repayment deferrals on home and business loans for up to three months.
The state and federal governments have put in a range of measures that will provide welcome relief and support cash flow to impacted businesses and individuals.
The population being vaccinated is the key to getting back to a more norm…
Read the full article at: https://www.miragenews.com/westpac-reaffirms-support-for-small-business-597626/
BOSTON Today, Massachusetts Attorney General Maura Healey issued the following statement in response to the U.S. Department of Education dropping its appeal of a federal court order canceling the loans of 7,200 students in Massachusetts who were defrauded by Corinthian Colleges, Inc. Corinthian operated two for-profit schools in Massachusetts under the name Everest Institute.
By withdrawing its appeal, the Department has agreed to comply with the U.S. District Courts June 2020 order, requiring the Department to fully discharge the federal loans of all Massachusetts students covered by AG Healeys 2015 group borrower defense application, and setting a precedent that group discharge applications filed by state attorneys general are valid …
Read the full article at: https://www.mass.gov/news/ag-healey-celebrates-debt-relief-victory-for-thousands-of-former-corinthian-students-in-massachusetts
Sudans overall foreign debt is estimated at $70bn, and the 22 member nations of the Paris Club urged other lenders to provide similar debt forgiveness.
Creditor countries have agreed to cancel $14.1bn of Sudans international debts, praising its economic reforms and efforts to fight poverty.
In a statement Friday, the Paris Club of creditor nations also announced that it rescheduled Sudans remaining $9.4bn in debt to the group, and held out the possibility of more debt relief in the future.
Sudans overall foreign debt is estimated at $70bn. The Paris Club, a group of 22 nations that lend to governments in need, urged other lenders to provide similar debt forgiveness.
On his Facebook page, Sudans Finance Minister Gebriel Ibrahim congra…
Read the full article at: https://www.aljazeera.com/economy/2021/7/16/sudan-gets-14bn-in-debt-relief-from-paris-club
Loading
The countrys total HELP bill ballooned to more than $66 billion in 2019-20, with about 85 per cent of this sitting with 2.2 million Australians aged under 40. The time taken to repay student debt has risen from an average of 7.3 years in 2005 to 9.3 years in 2020.
Federal Education Minister Alan Tudge said it was expected that as Australians lived and worked longer, more people would take up study to improve qualifications.
Older workers should have the same opportunities to upskill and re-skill as young people entering the workforce or those already working. When people get additional qualifications they typically increase their salary, regardless of the age they upskill, Mr Tudge said.
The architect of the original HECS schem…
Read the full article at: https://www.smh.com.au/politics/federal/number-of-older-australians-with-help-debt-doubles-in-five-years-20210712-p588wr.html
- The change seeks to eliminate a potential conflict of interest that insolvency professionals in charge of steering a company through the bankruptcy process could have if any of their colleagues advise others involved in the case.
By Gireesh Chandra Prasad, Livemint, New Delhi
PUBLISHED ON JUL 17, 2021 12:10 AM IST
Insolvency resolution professionals hired by lenders to rescue bankrupt companies cannot continue in that role if any of their colleagues represent any of the parties in that case, says a new rule brought out by the Insolvency and Bankruptcy Board of India (IBBI).
The change seeks to eliminate a potential conflict of interest that insolvency professionals in charge of steering a company through the bankruptcy proces…
Read the full article at: https://www.hindustantimes.com/business/new-restrictions-on-insolvency-resolution-professionals-101626459895705.html
The unemployed Maserati-driving former bankrupt Marie Simone has been thwarted in her bid to gain Liberal Party pre-selection for the forthcoming local government elections.
Ms Simone, 56, who is the president of the Caringbah Liberal branch, was attempting to win top-spot on the Liberal ticket to contest Ward A on the Sutherland Shire Council.
Property developer Rene Licata with his wife, Sutherland Shire councillor Marie Simone. Credit:Facebook
In 2014 Mrs Simone, a former dress shop owner, received a good behaviour bond after pleading guilty to four charges of obtaining money by deception.
Since emerging from their respective bankruptcies in 2015, she and her property developer husband Rene Licata have splashed out millions of d…
Read the full article at: https://www.smh.com.au/politics/nsw/no-ticket-liberal-party-rejects-maserati-driving-ex-bankrupt-20210716-p58ad6.html
16 July 2021
Global consulting firm Alvarez & Marsal has expanded its Financial Restructuring Advisory practice to Italy.
This is the next strategic step in the expansion of our financial restructuring offering across Europe, said Paul Kirkbright, Managing Director and leader of the practice in EMEA. Our on-the-ground initiatives in Italy reflect our hands-on approach to meeting evolving financial restructuring needs across the country and region.
Alvarez & Marsals Financial Restructuring Advisory team provides restructuring advice to creditors, investors, corporates, management, and other stakeholders to drive restructuring solutions with thorough financial analysis, independent business review, contingency pl…
Read the full article at: https://www.consultancy.eu/news/6504/alvarez-marsal-launches-financial-restructuring-practice-in-italy
ATLANTA, GA / ACCESSWIRE / July 16, 2021 / Business operations worldwide were shrouded in uncertainty throughout 2020, as a series of unpredictable events unfolded throughout the course of the coronavirus pandemic. Business executives were forced to act quickly in order to adapt to changes within the supply chain, tailor to shifting consumer behaviors, and manage other obstacles. As 2021 brings the hope of a “new normal”, companies are now looking further into portfolio restructuring – divesting from inefficient resources, and reallocating funds towards more promising opportunities.
Dee Agarwal, a leading investor, strategic advisor, and entrepreneur, has spent the last 18 months during the global pandemic observing the acceleration of …
Read the full article at: https://finance.yahoo.com/news/analysis-acceleration-portfolio-restructuring-post-153000983.html