These charges are baseless and I will be defending them. This has already been dealt with and is very old news.

Ron Bensimon

Originally from Melbourne but based in Bondi since 2017, Mr Bensimon indicated he would fight the case against him.

These charges are baseless and I will be defending them. This has already been dealt with and is very old news, Mr Bensimon said.

Australian Financial Security Authority deputy chief executive Gavin McCosker said the case highlighted the need for people to comply with the law once declared bankrupt.

Honesty is a key pillar of the personal insolvency system and any attempts to act dishonestly are a serious bre…

Read the full article at: https://www.theage.com.au/national/victoria/diamond-dealer-in-joel-selwood-engagement-ring-saga-charged-with-defrauding-creditors-20210222-p574sg.html

* Scheme received unanimous support of relevant lessors

* Khazanah to pump 3.6 bln rgt to fund MAG until 2025

* Group restructuring expected to complete early March

KUALA LUMPUR, Feb 22 (Reuters) – Malaysia Aviation Group obtained court approval in Britain on Monday for an agreement between the airlines leasing unit and a majority of its aircraft operating lessors, allowing it to begin a restructuring plan with new capital of 3.6 billion ringgit ($891 million).

MAG, parent of Malaysia Airlines, said on Monday the scheme received unanimous support of relevant lessors and represented an important component of a wider restructuring which will help to reduce its liabilities of more than 15 billion ringgit.

Now that the s…

Read the full article at: https://www.reuters.com/article/malaysia-airlines-restructuring/malaysia-aviation-groups-court-approval-paves-way-for-891mln-capital-injection-idUSL1N2KS18E

The Part A1 Moratorium is an insolvency process that was introduced by the Corporate Insolvency Governance Act 2020 to help financially distressed companies obtain temporary protection from creditor action, while the company attempts to rescue itself as a going concern. A quick legal update on the Part A1 Moratorium and its effects can be found below.

Download the below infographic.

Joe Donaghey and Haania Amir, London Trainee Solicitors, contributed to the drafting of this update.

[View source.]

Read the full article at: https://www.jdsupra.com/legalnews/the-part-a1-moratorium-stop-right-now-4491843/

For individual insolvencies, the number of bankruptcies in January 2021 was 818, while the number of Debt Relief Orders was 1,167. Both were 47% lower than in January 2020.

Overall numbers of company and individual insolvencies have remained low since the start of the first UK lockdown in March 2020, when compared with the same time period last year.

The Insolvency Service said this is likely to be partly driven by government measures put in place in response to the coronavirus (COVID 19) pandemic. Key measures include temporary restrictions on the use of statutory demands and certain winding-up petitions (leading to company compulsory liquidations), and enhanced government financial support for companies and individuals.

The overall nu…

Read the full article at: https://www.accountancydaily.co/insolvency-figures-drop-half-despite-pandemic

HONG KONG — HSBC Holdings is expected on Tuesday to unveil a renewed effort to push further into Asia and to relocate some top executives to Hong Kong as the bank accelerates its largest overhaul in decades to address years of underperformance.

With the U.K.-based bank’s business recovering in the fourth quarter, CEO Noel Quinn is hastening a plan unveiled a year ago that called for cutting 35,000 jobs, about 15% of its total, over three years.

The bank has flagged that it plans to grow its wealth business in the region with a focus on China and to also expand across South Asia.

HSBC, which received 54% of its total revenue and nearly all its profit from Asia in the first nine months of last year, is expected to report on Tuesday tha…

Read the full article at: https://asia.nikkei.com/Business/Finance/HSBC-to-expand-restructuring-with-faster-shift-to-Asia

Since his victory last November, President Biden has faced persistent calls from the left to forgive student loan debt for the45 million Americans who collect…

Read the full article at: https://www.forbes.com/sites/benritz/2021/02/22/the-right-way-to-do-student-debt-relief/

Grupeer is looking to work with lawyers representing a group of disgruntled investors who were taking legal action against the European peer-to-peer lender.

The Latvia-based peer-to-peer lender had itseconomic activities suspendedby the countrys tax authority last September.

It also faced criticism and legal action after it said in March that it wouldno longer pay interest owedto lendersdue to the state of emergency declared across EU member states and limits on being able to recover debts amid the pandemic.

Grupeer had already appointed debt collection firm Recollecta to take over management of platform repayments and revealed it is chasing 10m (9.03m) of unpaid debt from several loan originators.

But the platform has revealed this pl…

Read the full article at: https://www.p2pfinancenews.co.uk/2021/02/22/grupeer-proposes-ceasfire-with-disgruntled-investors/

It is important to remember that borrowers can refinance a federal loan to a private loan, but they cannot go the other way or revert back once this occurs.

The decision may be simpler for prospective borrowers since federal loan rates change each year and are based on the high yield of the last 10-year Treasury note auction in May, so prospective undergraduate federal loans borrowers generally receive the lowest rates (currently, 2.75%).

Undergraduates, however, arent often the ones accumulating massive amounts of debt due to federal borrowing limits. We typically see six-figure student debt totals among graduate students and parents.

A popular form of financing for this group is the federal PLUS loan. This loan, often referred to as a…

Read the full article at: https://www.thinkadvisor.com/2021/02/22/student-loan-debt-relief-recent-changes-advisors-should-know/

Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, responds to todays publication of Januarys corporate and personal insolvency statistics for England and Wales:

Januarys fall in corporate insolvency numbers has been driven by a fall in Creditors Voluntary Liquidations, administrations, and Company Voluntary Arrangements.

These figures dont reflect the fact that the economic fallout from the pandemic is continuing to hit businesses, individuals, and the wider economy. Its clear the Governments support packages which were extended again in December are helping prevent the rise in insolvency numbers we would have expected…

Read the full article at: https://www.businessupnorth.co.uk/monthly-corporate-and-individual-insolvency-statistics/

These charges are baseless and I will be defending them. This has already been dealt with and is very old news.

Ron Bensimon

Originally from Melbourne but based in Bondi since 2017, Mr Bensimon indicated he would fight the case against him.

These charges are baseless and I will be defending them. This has already been dealt with and is very old news, Mr Bensimon said.

Australian Financial Security Authority deputy chief executive Gavin McCosker said the case highlighted the need for people to comply with the law once declared bankrupt.