Insolvency Guardian Media Centre
DEAR READERS: Well, we’ve probably known about it for a while, and we just don’t like to face it or talk about it: debt. The average American has anywhere between $40,000 and $90,000 in total debt, many experts agree.
Debt can come from many sources, but a big reason for all of this debt is our relationship with money and how it connects with our emotional well-being. People suffering from anxiety, depression and/or untreated trauma can misuse money. This can include overspending, gambling and avoidance of legitimate debt and payments that are due. Steps to help? Here are a few:
“Self-care” is a term we’re hearing a lot now. You must take care of yourself. Get enough sleep, but not too much. Get up and get out of bed every day and t…
Read the full article at: https://www.arkansasonline.com/news/2021/jul/13/helpful-hints/
The risks facing directors and officers (D&O) continue to expand and intensify, with liability claims against them set to rise. One catalyst has, of course, been the COVID-19 pandemic. As the effects of the crisis gripped the global economy, businesses had to react swiftly to the challenges of business interruption. Senior managers grappled with whether to close offices, force redundancies or furlough workers. They had to deal with pressing issues such as supply chain disruption, falling consumer demand, travel restrictions, remote working and ensuring the health and wellbeing of staff. For some, these issues may persist for the foreseeable future. Though the crisis is beginning to subside in certain jurisdictions, its repercussions, in…
Read the full article at: https://www.financierworldwide.com/evaluating-executive-risk-in-the-time-of-covid-19
AVON, Conn., July 13, 2021 /PRNewswire/ –Carrier-provided online administration capabilities continue to be very important to employers of all sizes and industries,according to the reportMarketVision The Employer Viewpoint: Breaking Out Employer Demographics for the Voluntary/Worksite.The percentage of employers that think having online administration is not important is overall very low: the weighted average across all employer sizes is only 4%. There was little variation across all employer segments, which ranged from 1% to 8%. By industry, none of the Health Care employers surveyed say online administration is not important. However, online administrative services for voluntary are more of an influencer than a deal-breaker for empl…
Read the full article at: https://www.prnewswire.com/news-releases/online-administration-capabilities-are-important-when-selecting-a-voluntary-carrier-across-all-employer-sizes-and-industries-finds-eastbridge-consulting-group-301332874.html
The National Company Law Appellate Tribunal has set aside NCLT’s direction to liquidate Three C Homes and ordered that other options be considered for resolution of the debt-ridden realty firm.
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NCLAT|NCLT|liquidation
The National Company Law Appellate Tribunal (NCLAT) has set aside NCLT’s direction to liquidate Three C Homes and ordered that other options be considered for resolution of the debt-ridden realty firm.
While remanding back the matter to NCLT, the appellate tribunal said liquidation should be the last resort for insolvency resolution process of any residential project and asked NCLT to review its direction.
On February 8, 2021, the New Delhi bench of the National Company Law Tribunal (NCLT) had rejected t…
Read the full article at: https://www.business-standard.com/article/companies/nclat-stays-liquidation-of-three-c-homes-asks-nclt-to-consider-options-121071301108_1.html
Posted on: July 13, 2021, 02:09h.
Last updated on: July 13, 2021, 02:09h.
Gambling debt reportedly was the motive behind a Brooklyn, N.Y. man fatally stabbing his father in the chest on July 4, according to published reports. The suspect was apprehended on Sunday in the boroughs latest deadly crime tied to gambling.
Police said Sean Peterson, 24, was arrested on a murder charge over the weekend for the killing of Anthony Capone Berry, 45, also of Brooklyn.
The early morning stabbing took place outs…
Read the full article at: https://www.casino.org/news/gambling-debt-led-brooklyn-ny-man-to-allegedly-murder-his-father-reports-reveal/
The crisis-hit Infrastructure Leasing and Finance Limited (IL&FS) group has addressed a debt of about Rs43,000 crore and is confident of addressing an additional debt of Rs14,400 crore, taking its total debt recovery to Rs58,000 crore by March next year.
In a presentation, IL&FS says, “Significant portion worth Rs50,000 crore of estimated recovery would be addressed by September 2021. We expect to address a debt of about 95% or Rs58,000 crore out of the estimated recovery of Rs61,000 crore by March 2022. Since there is a high number of residual entities with low recovery potential, it would remain beyond March 2022. The incremental recovery value in these 89 small entities is worth Rs3,000 crore and will take some more time and we are …
Read the full article at: https://www.moneylife.in/article/ilfs-confident-of-addressing-debt-worth-rs58000-crore-by-march-2022/64510.html
Some students who are affectedby Laurentian University’srecent restructuring are hoping they’ll qualify forsome financial helpfrom the provincial government, while others are disappointed to find out they aren’t eligible.
The school declared itself insolvent on Feb. 1, and cut dozens of programs and hundreds of jobs under creditor protection to begin its plan to return to financial stability.
The one-time financial support from the provincial government is for students whose programs were discontinued, and who had to transfer to another post secondary institution in Ontario or across the country.
Those students who are eligible, will get one-time financial support of up to $4,000. That amount is for domestic students, while interna…
Read the full article at: https://www.cbc.ca/news/canada/sudbury/government-funding-for-laurentian-university-students-impacted-1.6099397
The Administrative Appeals Tribunal (AAT) has overturned the Australian Taxation Offices (ATO) decision to pursue $106,576 in tax debts from the former owners of a family freight and transport business.
Garry and Glenda Smith, a married couple in their 70s, operated a small interstate transport and freight business in Benalla, Victoria prior to their retirement.
Eight years ago, the business faced a series of challenging events after a large contractor went into voluntary administration while owing the business approximately $80,000. The couple wasnt able to recover any money from the contractor, as the contractor was liquidated and their business wasnt secured as a creditor.
Between 2016 and 2018, the couples business received two not…
Read the full article at: https://www.smartcompany.com.au/business-advice/legal/small-business-owners-granted-tax-relief-dispute-ato/
image copyrightPA MediaThe government has told business leaders it will take a “cautious approach” to firms that owe it money in the wake of the coronavirus pandemic.
The message came in a letter from Business Secretary Kwasi Kwarteng to the Institute of Directors and R3, which represents insolvency firms.
In the letter, first reported by the Financial Times, he said enforcing insolvency would remain a last resort.
The government has spent billions protecting the economy from Covid.
As part of these efforts, measures preventing firms from being wound up if they fall into insolvency have been extended until the end of September.
However, it is feared some c…
Read the full article at: https://www.bbc.com/news/business-57578227
Mohegan Sun has withdrawn a lawsuit against an National Hockey League team owner it claimedfailed to pay a $900,000 gambling debt.
The withdrawal, filed Friday in New London Superior Court, provides no information about the terms of any settlement the casino may have reached with Eugene Melnyk, the Canadian billionaire who owns the Ottawa Senators.
Asked if Mohegan Sun recovered the debt it claimed Melnyk incurred in 2017, Houston Lowry, an attorney for the casino, said his client had instructed him not to comment on the suit.
Attorneys for Melnyk did not respond to messages seeking comment.
Mohegan Sun filed the suit in July 2019. A filing six months later indicated the parties had tentatively resolved the issue.
In the suit, Mohegan S…
Read the full article at: https://www.theday.com/local-news/20210712/mohegan-sun-withdraws-lawsuit-against-nhl-team-owner
An argument over a gambling debt sparked the fatal Fourth of July stabbing of a father of three in Brooklyn, police said Monday after arresting a suspect.
Sean Peterson was nabbed Sunday and charged in the killing of Anthony Berry, 45, who was knifed outside his apartment building in the Flatbush Gardens apartment complex on Foster Ave. near Nostrand Ave. early July 4.
Minutes earlier, Berry had got into an argument outside a bodega down the block. Police said Monday Berry and his killer were quarreling about money owed to the suspect from gambling.
Anthony Berry
Berry, whose nickname was Capone, was stabbed in the chest and could not be saved.
He had a long misdemeanor arrest recor…
Read the full article at: https://www.nydailynews.com/new-york/nyc-crime/ny-suspect-arrested-fatal-stab-brooklyn-dad-gambling-dispute-20210712-wuq6o4sahnafpdw7m3s4lt3mh4-story.html
The Small Business and Family Ombudsman Bruce Billson has come out in support of moves by the banking sector to help SME clients to survive the latest New South Wales lockdown.
New South Wales announced a record number of new coronavirus cases for this wave of the pandemic, with over 100 in the Greater Sydney area yesterday, and no end in sight for a lockdown that is now more than two weeks old.
Banks have rallied around their clients and offered a range of solutions to struggling small businesses, from loan restructuring to deferrals on repayments.
Business NSW recently described the renewal of the lockdown last week as a crushing blow to the SME sector.
Its a positive move, said Billson. Its something that is worthy of support: the…
Read the full article at: https://www.brokernews.com.au/news/breaking-news/bruce-billson-reacts-to-bank-moves-to-support-smes-in-lockdown-277784.aspx