Insolvency Guardian Media Centre
ANALYSIS/OPINION:
Serafim Sotiriadis & Associates is an Athens-based law firm, specializing in commercial law, insolvency law, business restructuring and recovery. It was the first law firm in Greece to successfully submit and ratify a rehabilitation agreement – a document that has served as a reference point for the Rehabilitation Mechanisms (106b and 106d of the Greek Bankruptcy Code) that followed.
The firm has also been among the first to be involved in Greeces Non Performing Loans (NPL) market and has vast experience in providing foreign investors with legal advice on the Greek Law, to give them a deep understanding of its impact on their investment choices and strategies. Greece has already attracted the worlds biggest investment …
Read the full article at: https://www.washingtontimes.com/news/2021/jul/6/the-insolvency-and-restructuring-legal-experts/
- As businesses learn to cope with the pandemic, investors can look to restructure their Vietnam operations to adapt and go beyond the health crisis.
- Businesses can take a number of actions to such as modifying their debt exposure, liabilities, and operations to limit financial harm and improve business viability.
- Vietnam Briefing explores some of these options in the Vietnam context and how businesses and implement some measures to remain competitive.
In the context of Vietnams continued growth story despite COVID-19, we look at how businesses invested in the region can strategize to survive and succeed.
The purpose of restructuring in Vietnam should go beyond survival from this health crisis. Enterprises in all sectors and industries …
Read the full article at: https://www.vietnam-briefing.com/news/restructuring-your-vietnam-company-to-survive-stabilize-and-succeed.html/
George Washington is seen with printed medical mask on the one Dollar banknotes in this illustration taken, March 31, 2020. REUTERS/Dado Ruvic/Illustration
WASHINGTON, July 6 (Reuters) – The United States on Tuesday urged China and the private sector to increase their participation in a G20 debt moratorium for low-income countries hammered by the COVID-19 pandemic, and a common framework for restructuring their debts.
A senior U.S. Treasury official said Washington was open to expanding the common framework for debt treatment agreed by the G20 and the Paris Club beyond just low-income countries to include small island states, fragile states and even some lower middle-income countries with high debt burdens.
G20 finance officials will review…
Read the full article at: https://www.reuters.com/business/us-urges-china-private-sector-boost-participation-g20-debt-response-2021-07-06/
Menendez, Booker, Colleagues Urge Education Department to Expand Debt Relief for Student Loan Borrowers
Menendez, Booker, and Colleagues to Secretary Cardona: We encourage the Department to pursue policies that reduce disparities in the burden of student debt, simplify loan repayment, close donut holes in forgiveness programs, and improve the overall confidence of borrowers in the federal student loan system.
WASHINGTON, D.C.U.S.SenatorsBob Menendez and Cory Booker (both D-N.J.) joined 21 of their Senate colleagues in urging Secretary of Education Miguel Cardona to expand student debt relief in the Departments upcoming higher education rulemaking.
In aletterto Secretary Cardona, the senators highlighted the need for policies that imp…
Read the full article at: https://www.insidernj.com/press-release/menendez-booker-colleagues-urge-education-department-expand-debt-relief-student-loan-borrowers/
BROOK SABIN/STUFF
For less than $100, Kiwis can fly to an island that’s mix of Fiji and Niue.
Failed Auckland airline Fly My Sky owes more than $800,000 to creditors, including customers who bought airfares for flights that have been cancelled.
Commercial Helicopters, the registered company behind the airline, went into liquidation on June 29.
A first liquidators report, prepared by liquidators Clive Bish and Gareth Hoole of Ecovis KGA, said, on first impression, it appeared the company was insolvent when liquidators were appointed.
The liquidators had not been able to determine how long the company traded while insolvent, if at all, and they would investigate the matter, it said.
READ MORE:
* Company behind Auckland airline Fly …
Read the full article at: https://www.stuff.co.nz/business/industries/125675301/fly-my-sky-owes-creditors-more-than-800000-including-out-of-pocket-customers
KPMG restructuring spin-off Interpath has held early-stage talks with US restructuring business Conway MacKenzie in a bid to grow its international capabilities.
Interpath broke away from KPMG UK in May in a management buyout backed by private equity firm HIG.
Interpaths chief executive Blair Nimmo told Financial News that the firm had held exploratory discussions with HIG-owned US restructuring business Conway MacKenzie about a possible tie-up.
We have had early day discussions about how we might work together, to give us that US capability and give them a capability outside the US, Nimmo said.
READKPMG UK agrees sale of restructuring unit in PE-backed management buyout
Conway McKenzie has over 100 restructuring professionals across the …
Read the full article at: https://www.fnlondon.com/articles/kpmg-restructuring-spin-out-interpath-in-talks-over-us-tie-up-with-conway-mackenzie-20210706
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.
If you have high-interest debt, like credit cards, refinancing for debt consolidation can make it easier to tackle your debt. But there are also risks involved.
In almost any comparison, a mortgage APR is lower than a credit card APR. When mortgage rates are low, you may think its a no-brainer to use your homes equity to pay off credit card debt that has a double-digit APR.
But proceed with caution. Refinancing for debt consolidation comes wi…
Read the full article at: https://www.foxbusiness.com/personal-finance/refinance-for-debt-consolidation
ASIC has warned debt management firms, who are now require to hold an ACL, that it is closely monitoring compliance with new laws and will take action when necessary.
From 1 July 2021, debt management service providers (including firms offering debt negotiation or credit repair services) are regulated under the National Consumer Credit Protection Act 2009 (National Credit Act).
This has formed a part of the federal governments plans to overhaul responsible lending obligation laws, with the reforms aimed at protecting consumers from the predatory practices of debt management firms by requiring them to hold an Australian Credit Licence (ACL) when they are paid to represent consumers in disputes with financial institutions.
The new laws m…
Read the full article at: https://www.theadviser.com.au/breaking-news/41758-debt-management-acl-regime-begins
One awkward thing about the nations unionists teaming up with the nations bosses to responsibly steward the capital of the workers is that it sometimes leaves the unionists defending the workers capital over … well, the workers.
As reported in this paper on Wednesday, embattled IFM-backed field services contractor Tandem has placed the majority of itself into administration, as one of its subsidiaries geared up for the start of a major class action over allegedly underpaying thousands of workers.
Former ACTU secretary is the chairman of IFM, which is the controlling shareholder of Tandem. Louie Douvis
Funds management behemoth IFM which is itself owned by 26 industry funds and is part of a consortium that on Monday made a $22 bil…
Read the full article at: https://www.afr.com/rear-window/ifm-s-tandem-leaves-workers-in-the-lurch-20210706-p5878r
They thought they were going to hold this company to account over its system of work that has caused a lot of them extreme hardship and they also may well have missed out on employment entitlements they might have otherwise got, she said.
This is an affront to workers around the country quite frankly.
IFM, chaired by ex-ACTU secretary Greg Combet, declined to comment on the decision. The IFM directors were the only two left on the board of Tandem Corp after the remaining directors quit about three weeks ago.
About 1,000 contractors are understood to be affected by the collapse and 86 sacked staff are owed an estimated $3 million in wages, redundancy and leave entitlements. Hundreds more employees are facing an uncertain fate.
At a town …
Read the full article at: https://www.afr.com/work-and-careers/workplace/ifm-backed-contractor-folds-over-sham-contracting-claims-20210706-p58783
Dukang Distillers
has completed its restructuring with the acquisition of a kiwi fruit business, disposing of its existing liquor business For this reason, it will take on a new name to reflect the change. Yesterday, Dukang announced that it will be renamed China Shenshan Orchard Holdings.
The firm stated that revenue and net earnings of the acquired kiwi fruit business has been growing steadily since 2017 and has been minimally impacted by the pandemic. Post restructuring, China Shenshan will become a horticultural marketing company, focusing on the planting, cultivating and sale of kiwi in China.
The business it acquired holds the use rights for eight orchards, spanning a total land area of approximately 6.5 million m2, which it belie…
Read the full article at: https://www.freshplaza.com/article/9336961/chinese-distiller-moves-from-liquor-to-kiwi-fruit-business/
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Quick fix
Black farmers have been woefully behind white farmers when it comes to getting direct loans and grants in recent years, a POLITICO analysis of data shows. Advocates for Black farmers say the Agriculture Department needs to be ready to do more to increase equitable access to farm loans and programs.
Data shows Latinos living in the West face the highest rates of d…
Read the full article at: https://www.politico.com/newsletters/weekly-agriculture/2021/07/06/black-farmers-seek-more-than-debt-relief-796316