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.
Lamar Odom Says Kobe Bryant Offered to Help Him with Gambling Debt During One of Last Calls – PEOPLE
Lamar Odom Says Kobe Bryant Offered to Help with Gambling Debt | PEOPLE.com Skip to content Top Navigation Explore PEOPLE.com
Lenders of the debt-ridden Future Retail Ltd have approved a plan to restructure the existing financial debt of the company under an RBI announced resolution framework for COVID-19 related stress.
The restructuring plan now would be forwarded for approval to an expert committee, formed by RBI under the chairmanship of K V Kamath, Future Retail Ltd (FRL) said in a late-night regulatory update on Saturday.
As part of the resolution plan, the debt raised through the non-convertible debentures issued by FRL is also part of the existing debt and is proposed to be restructured, it added.
The board of the company, which now expects to recover from the financial stress with the resolution timeframe, has also approved the restructuring pl…
Read the full article at: https://www.business-standard.com/article/companies/future-lenders-approve-debt-restructuring-plan-to-be-sent-for-approval-121041800262_1.html
As the #FreeBritney movement rages in the US, everyday Australians are taking notice of the guardianship system here. What can we learn from the pop singers fight to take back control of not just her finances, but also her life?
At first, it might be difficult to see the similarities between Britney Spears and Monique Beach.
One is an international superstar who lives in a multi-million-dollar mansion in California. The other is a 48-year-old mother-of-two from Yetman in rural New South Wales, who lives in a small two-bedroom home with a black-mould problem and holes in the bathroom floor.
But each woman is fighting the same battle: for control, independence and autonomy over their finances and their lives.
Beachs struggle started a dec…
Read the full article at: https://www.bodyandsoul.com.au/health/how-britney-spears-is-helping-australians-clear-their-debt-no-really/news-story/2be5cab1c1cec91fe26cb7573cd66ba1
LONDON, April 15 (Reuters) – More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic.
Britains economy shrank by almost 10% last year and millions of people have been unable to work due to lockdown restrictions, but state loan guarantees and wage subsidies have kept most companies and households financially afloat for now.
Government figures on Thursday showed 992 companies in England and Wales were declared insolvent in March.
This represents a rise since the start of the year but is still 20% fewer than in March last year at the start of the pan…
Read the full article at: https://www.reuters.com/article/britain-economy-bankruptcy-idUSL8N2M845T
A man whose bankruptcy saw 37 social houses go to auction has found himself before Tweed Heads Local Court.
Geoffrey John Hirning purchased the Downs Housing company, previously Downs Aboriginal and Islander Housing Company, in 2016 before filing for bankruptcy a year later.
As a result of the bankruptcy the 37 houses in Toowoomba, all occupied by Indigenous Australians, were sold at auction leaving a number of tenants displaced.
Court documents reveal Hirning was declared bankrupt by the Federal Circuit court on June 5, 2019.
He filed an initial statement of affairs but the trustee’s office requested further bank statements, tax records, motor vehicles, details of real estate property and sale of property, assets and money given and p…
Read the full article at: https://www.northernstar.com.au/news/jail-sentence-for-man-after-bankruptcy-debacle/4239141/
These monthly statistics are designated as experimental statistics, defined in the Code of Practice as new Official Statistics undergoing evaluation that are published in order to involve users and stakeholders in their development as a means to build in quality at an early stage.
Experimental statistics status is given at the discretion of the responsible statistician. Defining what is experimental is largely a matter of judgement but will typically arise when statistics are new and still subject to testing in terms of their ability to meet users needs.
The removal of the experimental classification will take into account factors such as:
- When it is judged that the statistical methods are relatively stable
- When coverage reaches a good…
Read the full article at: https://www.gov.uk/government/statistics/monthly-insolvency-statistics-march-2021/methodology-and-quality-document-monthly-insolvency-statistics-march-2021
Aled Jones, a doctor with the City University Hospital, has admitted to defrauding the NHS of 68,000 for the reason of his gambling debts according to multiple sources. The 39-year-old doctor was sentenced at the Cardiff Crown Court on Tuesday, March 9, 2021.
On both counts of frauds, Aled Jones pleaded guilty. The court had earlier heard that he owed a massive debt from gambling, an addiction he developed back from when he was still a student studying medicine.
Within a space of two years working as a registrar at the City University Hospital, under the Nephrology and Transplant Unit, Jones stole a total of 420 checks. As a registrar, the young doctor had access to the codes that unlocked the office of the Bereavement Services Departme…
Read the full article at: https://www.wales247.co.uk/cardiff-doctor-defrauded-68000-for-gambling-debts
There are several ways to pay off student loan debt when your balance tops six figures. (iStock)
CARES Act forbearance provisions for federal student loans have been extended through Sept. 30, 2021. However, that reprieve doesn’t extend to private student loans.
If you have private student loan debt, you may be wondering what your options are for managing it, especially if your balance hovers near six figures. According to statistics gathered by Credible, of the 43 million Americans who owe student loans, 2.8 million owe $100,000 or more.
The good news is there are things you can do to pay off student loan debt faster while potentially saving money.
If you have private student loans and are looking to ease the burden of student…
Read the full article at: https://www.foxbusiness.com/money/100k-student-debt-how-to-pay-off
Lamar Odom Says Kobe Bryant Offered to Help with Gambling Debt | PEOPLE.com
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Read the full article at: https://people.com/sports/lamar-odom-says-kobe-bryant-offered-to-help-with-gambling-problem/
The right payoff strategy can make all the difference in your ultimate success.
Paying off debt can be hard work, and it can take time. The good news is there are a number of approaches that can make the process easier. However, it can be hard to know which one is the smartest approach.
If you’re struggling to decide how best to tackle your financial obligations in order to become debt free, answering these three questions could help.
1. Does consolidation make sense?
Debt consolidation can be the best approach to debt payoff if certain conditions are met. Consolidation involves getting one new loan, which is used to pay off several existing debts. If you qualify for a low-interest consolidation loan, reducing your interest costs can h…
Read the full article at: https://www.fool.com/the-ascent/personal-finance/articles/ask-yourself-these-3-questions-to-choose-the-best-debt-payoff-plan/
Apr 16, 2021
A person holding a vegetable at a farm. Earlier this week, we posted important information about the American Rescue Plan debt relief payments for socially disadvantaged producers. The American Rescue Plan includes provisions for USDA to pay up to 120% of loan balances, as of January 1, 2021, for Farm Service Agency (FSA) Direct and Guaranteed Farm Loans and Farm Storage Facility Loans (FSFL).
If you are a Black, Native American/Alaskan Native, Asian American or Pacific Islander, or are of Hispanic/Latino ethnicity, with one of the loans listed above, you are eligible for the loan payment. FSA is working hard to ensure that we provide this relief as…
Read the full article at: https://www.usda.gov/media/blog/2021/04/16/faqs-american-rescue-plan-debt-relief-socially-disadvantaged-borrowers
Stuart Robb and Michelle Elliot
Specialist business advisory firm FRP has appointed a six-strong restructuring team, which includes partners Stuart Robb and Michelle Elliot based in Glasgow.
Mr Robb specialises in contentious insolvency and corporate restructuring. He has 25 years experience working on formal insolvency appointments across a wide variety of sectors.
With more than 20 years experience, Ms Elliot is a qualified chartered accountant and insolvency practitioner.
They join FRP with director Ricky OKane, senior manager James Dempster, manager Julie Millar, and senior relationship manager Donald Shanks. The move will establish an on-the-ground presence for FRP in Glasgow.
Jeremy French, COO of FRP, said the appointments str…
Read the full article at: https://dailybusinessgroup.co.uk/2021/04/frp-builds-six-strong-restructuring-team/
The administrators said it did not appear that the Australian group had been insolvent from a balance sheet perspective for any length of time before they were appointed, but said they needed to do detailed investigations examining whether it traded insolvent from a cash flow perspective.
They noted the company was highly illiquid, but this reflected that its financial exposures to Japans Softbank and Greensill Capital UK (GCUK) were not immediately repayable.
When Greensills Australian parent filed its most recent annual report with regulators, for the year ending December 2019, it had nine directors, including Lex Greensill and his brother Peter.
All of those directors, with the exception of Greenhill and Gabriel Caillaux, resigned f…
Read the full article at: https://www.afr.com/companies/financial-services/greensill-under-investigation-for-insolvent-trading-20210416-p57joa
