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Insolvency Guardian Media Centre
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.
The world cannot recover from the health and economic crises of the COVID-19 pandemic and tackle climate change without debt relief for the world’s poorest countries, said the secretary-general of Caritas Internationalis.
As the leaders of the world’s wealthiest nations prepared to meet for the G7 summit in Cornwall, England, Caritas insisted their agenda could not possibly succeed without canceling the debt of poor countries and allowing those funds to be reinvested in COVID-19 vaccines and health care, economic recovery projects and combating the climate crisis.
At the summit June 11-13, U.S. President Joe Biden was set to meet with the heads of the other G7 governments — Canada, Japan, Germany, France, Italy and the United Kingdom…
Read the full article at: https://angelusnews.com/news/world/caritas-tells-g7-leaders-debt-relief-is-key-to-global-covid-19-recovery/
Chris Gash
Add burdensome credit card debt to the list of woes the pandemic has made worse for older Americans. New surveys confirm what your letters have already told me: Many of you are struggling to make monthly payments while balances grow. And even those of you who aren’t struggling are carrying more of this debt, and paying more interest, than you were before.
So, burn debt we must. If you’re carrying $5,000 at current rates of just over 16 percent, you’re paying about $67 a month in interest. That drain on your money gets in the way of everything else you want to do, including sleep soundly.
I’ll assume you’ve already dug deep for cash to pay down the balance held a yard sale, taken on a side gig, sold a car, or used …
Read the full article at: https://www.aarp.org/money/credit-loans-debt/info-2021/how-to-free-yourself-from-credit-card-debt.html
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When youre struggling with overdue debt, you may wonder whether debt settlement is the right way to take care of it. It may be a workable option, depending on which approach you take: relying on a third-party debt settlement company or settling the debt on your own.
Experts warn that using a debt settlement company can be a costly, risky alternative. Meanwhile, a DIY settlement plan may work, but it can be tough to carry out.
Read on to learn about the ins and outs of working with a debt settlement company.
Find Out If You Qualify For Debt Relief
Free, No-commitment Estimate…
Read the full article at: https://www.forbes.com/advisor/debt-relief/debt-settlement-how-it-works-and-risks/
NEW DELHI : Jaypee Infratech’s financial creditors on Thursday decided to put the bids of NBCC and Suraksha group to vote after both parties submitted final offers for the debt-laden company.
The winning bidder will acquire Jaypee Infratech Ltd (JIL), which went into insolvency nearly four years ago, as well as complete more than 20,000 pending flats across various projects in Delhi-NCR.
A meeting of the Committee of Creditors (CoC) was held to discuss the resolution plans of the two contenders — NBCC and Suraksha — under the Corporate Insolvency Resolution Process (CIRP).
According to sources, the CoC,which includes members of 13 banks and a representative of over 20,000 homebuyers, decided to put to vote the resolution plans of…
Read the full article at: https://www.livemint.com/companies/news/creditors-to-vote-on-nbcc-suraksha-final-offers-for-bankrupt-jaypee-infratech-11623335634724.html
A battle over who is responsible for cleaning up hundreds of oil and gas rigs in the Gulf of Mexico is quietly playing out in a bankruptcy court in southern Texas. The contestants in this game of fossil fuel infrastructure hot potato: Fieldwood Energy, an offshore drilling company attempting to offload more than $7 billion in environmental cleanup responsibilities; a group of oil majors including Chevron, Marathon Oil, and BP; and the Department of the Interior.*
Fieldwood has declared bankruptcy, and a court is considering the company’s plan to split its assets, moving older legacy wells and drilling rigs that are expensive to clean up into two entities while creating a new company appropriately named NewCo to purchase the more prof…
Read the full article at: https://www.salon.com/2021/06/10/how-bankruptcy-lets-oil-and-gas-companies-evade-cleanup-rules_partner/
It spent $2.5 billion at its Melbourne casino on marketing, for example including loyalty programs, freebies on accommodation and hospitality, advertising, rebates and other measures and just $1.9 million on its responsible gaming program.
For the tens of thousands of guests that visited Crown in its pre-COVID-19 pomp, just 12 responsible gambling officers roamed the floor, although thats up from five a few years ago.
The Crown Resorts executive in charge of Melbournes VIP Mahogany Room, Peter Lawrence, accepted on Tuesday that pay incentives offered to Crown staff to drive revenue led it to disregard the welfare of some wealthy gamblers.
The commission heard the story of a certain Mr Hasna, who lost $100,000 and was encouraged to kee…
Read the full article at: https://www.afr.com/chanticleer/problem-gambling-probe-may-upend-crown-s-business-model-20210609-p57zm0
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A man with Cincinnati ties is heading to federal prison for embezzling more than $22 million from his employer and then using the stolen money for personal expenses and gambling.
Dennis Blieden, 31, of Cincinnati, formerly of Santa Monica, California, was sentenced by United States District Judge Andr Birotte Jr., who ordered him to pay $22,669,979 in restitution. He was sentenced to 6 yearsin prison.
According to voter registration records, Blieden was registered to vote in Montgomery, Ohio, from 2008 to 2013. He still has relatives in the area.
From 2015 to 2019, Blieden was controller and vice president of accounting and finance for StyleHaul Inc., which represents influencers on Instagram, according to a state…
Read the full article at: https://www.cincinnati.com/story/news/2021/06/10/dennis-blieden-sentenced-stealing-firm-representing-social-media-influencers-pay-gambling-debt/7633184002/
EAST GREENWICH, R.I., June 10, 2021 /PRNewswire/ –Alex and Ani, LLC (“Alex and Ani” or the “Company”), creators of the iconic charm bangle and affordable meaning based jewelry, today announced that in continuation of its efforts to stabilize its business, the Company has entered into a Restructuring Support Agreement (“RSA”) with its debt holders and equity sponsors regarding a comprehensive financial and operational restructuring. To implement the restructuring, the Company has commenced Chapter 11 proceedings in the United StatesBankruptcy Court for the District of Delaware.
Alex and Ani intends to continue operating its currently open stores and its website as usual during the court-supervised process.
Contemporaneously with the Cha…
Read the full article at: https://www.prnewswire.com/news-releases/alex-and-ani-announces-restructuring-support-agreement-with-its-secured-lenders-and-equity-sponsors-301309948.html
The 80 workers currently on strike at General Mills factory, in the western Sydney suburb of Rooty Hill, are facing a dual offensive. The company is seeking to impose sub-inflation wage increases and cuts to overtime payments, and the United Workers Union (UWU) is doing everything in its power to isolate the stoppage and prepare the grounds for a sell-out.
From the opening minutes of the industrial action last Friday, UWU officials have sought to prevent workers from speaking to Socialist Equality Party (SEP) members, demonstrating their role as an industrial police force, intensely hostile to an international socialist perspective. The attacks on the SEP are the sharpest expression of a broader effort by the union to ensure that produc…
Read the full article at: https://www.wsws.org/en/articles/2021/06/10/gmst-j10.html
Miss Brenda’s Pre-School Story Time
Charleston Carnegie Public Library is excited to announce the return of in person programming with Miss Brendas Preschool Story Time at the Kiwanis Park Amphitheater
Miss Brenda and Mr. Turtle can’t wait to see you outside at the Kiwanis Amphitheater on Mondays at 10:30 a.m. from June 14 through July 19.
This event will not be held during inclement weather, but all cancellations will be posted on the Library’s Facebook page.
Miss Brendas Preschool Story Time will present stories, songs and action rhymes.
Kiwanis Park is located at the corner of Division and Jackson Streets, with…
Read the full article at: https://jg-tc.com/entertainment/books/charleston-library-announces-upcoming-events/article_49885119-f93b-5d64-ae48-5a7266829326.html
Scott Ian Rooney (40), of Leicester, was appointed sole director of Magnetic Push Limited in February 2017.
The company provided payroll services, trading from a serviced office in Liverpool, and was previously known as The Knowledgeshares Limited and My PSU Subcontractors Limited.
Magnetic Push Limited operated for just 11 months before it went into liquidation and was voluntarily wound up.
The liquidator, however, reported to the Insolvency Service that Scott Rooney refused to co-operate and failed to deliver up the companys books and records.
Scott Rooneys lack of co-operation and further information provided by the tax authorities that the company was part of a tax avoidance scheme triggered an investigation by the Insolvency S…
Read the full article at: https://www.miragenews.com/11-year-ban-for-payroll-boss-in-tax-avoidance-575512/
The head of a major Bundaberg farming group has been declared bankrupt two years after the collapse of several of his companies owing an estimated $80 million.
Guy Barbera, who headed the Barbera family farming empire for years, was made a bankrupt in the Federal Circuit Court in March following an application by several creditors including the liquidator of one of the failed companies.
The Barbera family have been farming zucchinis, capsicums and tomatoes in the region for almost 50 years and at one stage employed hundreds of workers across the state’s salad bowl.
The bankruptcy comes as liquidators of other failed companies in the Barbera group including Barbera Fresh and Barbera Farms prepare to launch a public examination in the Fe…
Read the full article at: https://www.qt.com.au/news/barbera-patriarch-declared-bankrupt-as-liquidators/4265765/