A Czech court said on Wednesday it had declared bankruptcy on struggling national carrier Czech Airlines, following a request by the company itself.

“The court calls on the debtor’s creditors who have not registered their claims yet to do so within two months at the latest,” the Prague Municipal Court said.

A specialist transport website, zdopravy.cz, said the company had debts reaching 1.8 billion Czech crowns (70 million euros, $80 million).

Czech Airlines, a unit of the Prague-based Smartwings group, said last month it had filed a prop…

Read the full article at: https://www.hindustantimes.com/world-news/czech-airlines-goes-bankrupt-as-covid-19-impacts-operations-101615390702135.html

How many of us can forgive and forget when our friends or relatives owe us a sum of money?

32-year-oldNguyen Van Minh recently made a will and the first clause states that he will be forgiving and cancelling all his family and friends debt to him.

The total amount of debts is about 100 million VND (RM17,864). They have borrowed it quite long ago but were unable to pay it back. Mr. Nguyen told VNExpress.

He added: Last year I announced the cancellation of the debt to all the people who are involved so that they will not have added stress during the pandemic.

His announcement caused a lot of confusion and one of…

Read the full article at: https://worldofbuzz.com/32yo-vietnamese-man-cancels-friends-relatives-rm17000-debt-owed-to-him/

Hydro Tasmania says 50 jobs will go in the next 12 months as the business begins a restructure of its operations.

In a statement, Hydro chief executive Evangelista Albertini said the company needs to adapt to market conditions so it can be more productive and responsive to leverage advantages, which includes hydropower schemes and the potential to expand to include pumped hydro.

The company said it needs to focus on its “core business of generating clean and affo…

Read the full article at: https://www.abc.net.au/news/2021-03-10/hydro-tasmania-announces-restructure-job-losses/13235164

Keith Alan Da Costa (64), of Manningtree in Essex, was the sole director of KAD Consultants Limited since its incorporation in May 2011.

The company traded as surveyors providing services to general building contractors and the construction industry until it went into liquidation in June 2017.

KAD Consultants liquidation, however, triggered an investigation by the Insolvency Service before investigators uncovered instances of misconduct.

For the last 15 months of trading, Keith Da Costa did not maintain adequate accounting records which made it difficult to determine legitimate trading activities.

During this period, the company bank account revealed that in excess of 177,000 had been paid in and removed but it was not possible to …

Read the full article at: https://www.miragenews.com/surveyor-who-destroyed-company-papers-banned-526148/

March 09, 2021 22:07 ET | Source: Sundance Energy Inc.

Company initiates voluntary, prepackaged Chapter 11 process that will eliminate over $250 million of funded debt obligations

Chapter 11 process expected to conclude in approximately 60 days

All operations to continue as usual; employees, vendors, royalty owners, and other trade creditors to continue being paid in full in the ordinary course of business

Enters Chapter 11 process with at least $45 million of committed DIP financing

DENVER, March 09, 2021 (GLOBE NEWSWIRE) — Sundance Energy Inc. (NASDAQ: SNDE) and its affiliates (Sundance or the Company), an onshore independent oil and natural gas company focused on the development of large, repeatable resource plays in North Ameri…

Read the full article at: https://www.globenewswire.com/news-release/2021/03/10/2190014/0/en/Sundance-Energy-Takes-Action-to-Strengthen-Balance-Sheet-and-Position-Business-for-Sustained-Future-Success-Commences-Financial-Restructuring-With-Lender-Support.html

Jetstar will bring more of its jets back home from Japan to boost its domestic fleet as it faces a delay of up to two years in the delivery of its new Airbus A321neo aircraft.

The budget Qantas subsidiary was set to receive the first of the new single-aisle, long-range variant A321neo jets in August 2020 with 18 to have joined its fleet by the end of 2022, enabling it to expand further into popular Asian travel destinations. But the order was put on hold last May when the COVID-19 pandemic brought the aviation industry to its knees.

Jetstar chief executive Gareth Evans on Wednesday said he didnt expect the plan…

Read the full article at: https://www.watoday.com.au/business/companies/jetstar-to-bring-japan-jets-home-to-feast-on-tigerair-demise-20210310-p579ik.html

My husband and I were married in community of property and he passed away. We had sold our house a few years ago and have no assets as such, except two cars that are financed in my name with the bank. I do believe that all his debt had life insurance cover, but one bank is requesting a letter of authority or executorship from me but he had no assets and no will.

There are two life insurance policies where his two kids and I are nominated as beneficiaries but we still await an outcome on that. As it stands they are saying if the debts dont get paid by the credit life cover I will be liable to pay his debts. I dont think I can afford to do that. If declared insolvent does that mean I am declared insolvent as well? I am not sure what to do…

Read the full article at: https://www.moneyweb.co.za/qa/advisor-questions/will-i-be-declared-insolvent-if-my-late-partners-estate-is-declared-insolvent/

The relief bills provision mirrors a bill introduced in the Senate last month by a group of senators including Senators Reverend Raphael Warnock (D-GA) and Cory Booker (D-NJ). (That bill, in turn, draws on the Justice for Black Farmers Acta more sweeping piece of legislation that would issue land grants to Black farmers to make up for past losses, among other measures.) In addition to debt relief, it also allocates slightly over $1 billion to programs that would assess discriminatory USDA policies, provide technical support for Black farmers, and support research at historically Black colleges and universities.

If passed in the House, the bill will be sent to President Bidens desk. Civil rights advocates expressed cautious optimism that…

Read the full article at: https://thecounter.org/black-farmers-discrimination-debt-vilsack-american-rescue-plan-covid-19/

The number of low-income countries eligible for debt-service relief has doubled in the last decade. Heres how to help them.

The COVID-19 pandemic and the accompanying economic lockdowns have deepened inequality both within national borders and across the globe. Many low-income countries have suffered a severe economic contraction that has derailed budgets and created urgent financing needs. This has exacerbated debt-sustainability concerns, which were already high on the eve of the pandemic.

Today, more than half of low-income countries eligible for relief under the Group of 20s Debt Service Suspension Initiative are either in debt distress or at high risk, doubling in the last decade.

Since (at least) the founding of the League of Nati…

Read the full article at: https://blogs.worldbank.org/developmenttalk/key-resolving-covids-global-debt-crunch-transparency