Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
A mortgage is much more than just a big, scary debt you have to pay to enjoy homeownership.
It’s an opportunity, thanks to today’s record-low interest rates, to get ahead financially, whether through building wealth or better managing your other debts.
First, understand the difference between good and bad debt.
Put simply, good debt is any debt that can increase your wealth or deliver you personal value. Bad debt is the stuff that’s used to buy things that lose value, such as credit cards, car loans and buy now, pay later schemes.
Some types of debt are worthwhile adding to your mortgage, especially with the low cost of borrowing.
Here are four examples.
INVESTMENT LOANS
Most people need money to make money and investment debt is usu…
A partner with experience in aviation finance, restructuring and insolvency matters in Asia has joined K&…
A partner with experience in aviation finance, restructuring and insolvency matters in Asia has joined K&L Gates Hong Kong finance practice.
Eugene Yeung has joined K&L Gates Hong Kong finance practice as a partner after three years at Pillsbury Shaw Winthrop Pittman, leaving as counsel.
Yeung served Eversheds Sutherland as a consultant for just less than a year before joining Pillsbury in 2018. Prior to this, he spent six years at Mayer Brown, acting on local and international corporate restructurings, insolvencies, workouts and rescues.
Qualified to practise in Hong Kong, New York, Australia, and England and Wales, Ye…
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In May 2018, I quit my job as a youth leadership program director without having secured another. It was an abrupt decision to leave a role I had been doing for three years with nothing else lined up, but it was necessary for my mental health. The question for me wasn’t so much of if I would find another job, but when I would find one with comparable pay and benefits.
When I quit, we didn’t have much of a financial safety net. My husband was in graduate school and we had a 6-month-old baby we were already struggl…
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Law360, London (June 17, 2021, 1:37 PM BST) — The government has announced that it is extending by three months a COVID-19 relief measure thatprotects companies from enforcement action by creditors if they have fallen into debt because of the pandemic.
The public can now help modify the regulations already put in place by the insolvency regulator Insolvency and Bankruptcy Code of India (IBBI) during the last five years since the enactment of the Insolvency and Bankruptcy Code (IBC).
The regulator has now resorted to crowdsourcing of ideas to understand the important issues in the extant regulatory framework that hinder transactions and has sought alternative solutions to address them. This window will be open for comments from the public, including stakeholders, between June 17 and December 30 and the regulator intends to notify modified regulations by March 31 next year and bring them into force from April 1.
Such an exercise is seen as noteworthy by stakeholders of the insolvency ec…
Jonathan said: The figures released today for May 2021 show a slight increase in corporate insolvencies compared to the previous month but continue to show a trend of low corporate insolvencies compared to pre-pandemic levels. This is likely attributable to the continuing Government support that was put in place during the pandemic to support businesses, as well as the temporary restrictions on the use of certain creditor enforcement actions.
Darren Antony Reynolds, 51, from Willenhall, West Midlands, was the sole director of Active Wealth (UK) Limited, an independent financial advice company.
A chartered financial planner, Reynolds advised hundreds of clients on the best way to invest their pension funds from December 2014 to the companys liquidation in February 2018.
Following Active Wealths liquidation, an Insolvency Service investigation found that between December 2014 and December 2016, Darren Reynolds had failed to act in the best interests of the companys clients.
Following his advice, at least 288 clients transferred more than 23 million from their existing pensions to Self-Invested Personal Pension Schemes (SIPPs) which saw their funds invested in a portfolio …
Innovative measures to address debt are required to help the worlds more than 100 middle-income countries expand their economies and exit the COVID-19 pandemic, UN Secretary-General Antnio Guterres told the General Assembly on Thursday.
Addressing a high-level meeting on these nations, which account for more than half of the UNs 193 Member States, he underlined the need for financing to help them recover in the wake of the global crisis.
He said that middle-income countries should have their debts suspended into 2022 to cope with the social and economic impact of the virus.
Leaving no nation behind
Many were already dealing with mounting debt before the pandemic, which has only further aggravated the situation.
First, let me say I know PSP is a Philly-centric soccer blog. But I hope youll indulge me today because, earlier this week, some news dropped that I could not let pass without comment. Specifically, this:
Exclusive: Jamie Vardy has bought US soccer team @RochesterRhinos
Striker to be co-owner of New York-based side Will continue to play for Leicester City #LCFC Hands-on role as he looks to revive club ‘I’m so excited’, @vardy7 tells @TheAthletic
I live in Rochester. I grew up in Palmyra, NY, which is a small town to the east of the city. The idea that Jamie Vardy would invest in my hometown team ranks right up there with the news t…
A UN General Assembly high-level meeting on middle-income countries is held at the UN headquarters in New York, on June 17, 2021. Guterres on Thursday called for debt relief extension for middle-income countries. (Eskinder Debebe/UN Photo/Handout via Xinhua)
UNITED NATIONS, June 17 (Xinhua) — United Nations Secretary-General Antonio Guterres on Thursday called for debt relief extension for middle-income countries.
“Innovative instruments to allow debt restructuring and meaningful debt reduction can help middle-income countries expand their fiscal space to boost investment and steer a resilient and sustainable recovery from the (COVID-19) crisis,” the secretary-general told the General Assembly high-level meeting on…
On Tuesday, the National Company Law Tribunal (NCLT) questioned the extensive haircut that lenders have agreed to take in the insolvency resolution of Videocon group companies.
Billionaire Anil Agarwals Twin Star Technologies has proposed to pay 2,962 crore against admitted claims of 64,838 crore, implying a 95.85% loss to all Videocon creditors. The tribunal noted that this is close to the liquidation value of these companies.
However, steep haircuts are nothing new for lenders who have taken bankrupt companies to the courts.
According to data from Insolvency and Bankruptcy Board of India (IBBI), in over 363 major NCLT resolutions since 2017, banks have taken an average haircut of 80% over the past four years. Some of the large haircu…
