COVID has unquestionably caused unprecedented distress in many industries. Many businesses are facing liquidity constraints or are being required to redesign their business model to respond to evolving consumer trends or supply-chain disruptions. But businesses can take steps to manage risk and survive.

Call in the professionals. A prudent step is to engage outside restructuring or financial advisers to help develop and implement short- and long-term plans. Incurring the expense of outside advisers while the company is focused on reducing expenses might seem incongruous. But existing management will likely already be overextend…

Read the full article at: https://www.ibj.com/articles/kayla-britton-restructuring-considerations-for-the-distressed-company

The Kingdom of Saudi Arabia overhauled its corporate insolvency framework in 2018 with the introduction of a new bankruptcy law. In this client alert we examine the new Bankruptcy law in detail.

Executive Summary

The bankruptcy law that came into effect in the Kingdom of Saudi Arabia in 2018 reshaped the legal landscape with regards to the restructuring and liquidation of companies in the Kingdom. It established the framework for the administration of restructuring and liquidation procedures in Saudi Arabia, through the Commercial Courts and a newly formed Bankruptcy Commission. In addition, it set out a number of clearly defined restructuring and liquidation procedures to which a company may be subject, depending on its circumstances, …

Read the full article at: https://www.jdsupra.com/legalnews/the-saudi-bankruptcy-law-a-seismic-shift-8579637/

That Australian women earn less than Australian men is well-known. The latest calculation put the gap the extent to which the average female full-time wage is less than the average male full-time wage at 13.4%.

Women are also less likely to be employed than men, about 14% less likely, in part because women give birth to and are more likely to care for children.

What is less well known is that women are 32% less likely to work full-time than men and have an average commute that is 20% shorter.

Could womens shorter hours (even when working full-time), and shorter commutes be part of the reason for the gender gaps in wages and employment?

If women are willing to endure longer periods of unemployment and lower rates of pay in order to ge…

Read the full article at: https://theconversation.com/why-do-women-get-paid-less-than-men-hours-and-commuting-provide-clues-155883

A hunt for the assets of Tommy Robinson has begun after he declared himself bankrupt this week.

The founder of the English Defence League, whose real name is Stephen Yaxley-Lennon and who was one of Britains best-funded activists, filed for bankruptcy before a trial in which he is being sued for libel by a Syrian refugee.

Robinson once had more than a million social media followers and was able to raise huge amounts with regular appeals for donations. He drove expensive cars, was pictured wearing clothes and watches worth thousands of pounds and had cosmetic dentistry.

In 2018 he claimed to have received 350,000 of donations in two weeks and was said to have banked more than 2 million. He has suffered a loss of

Read the full article at: https://www.thetimes.co.uk/article/search-for-tommy-robinsons-assets-after-edl-founder-declares-bankruptcy-nbtk7v356

Unlike many other debt relief services who help clients out of debt with a process known as debt settlement, Debt Reduction Services offers assistance via debt management plans (DMPs). With a debt management plan, clients get help negotiating payments and interest rates with their creditors, after which they’ll make a single monthly payment to the agency they’re working with. Once their plan is underway, Debt Reduction Services will disburse payments to each of the creditors in the plan each month. This strategy helps clients simplify their finances with one m…

Read the full article at: https://www.investopedia.com/debt-reduction-services-review-5114311