Insolvency Guardian Media Centre
I get calls almost every other day, according to another in April. I consider this harassment.
I am reporting a potentially fraudulent credit collection and reporting issue, said a third.
The firm, Capio Asset Servicing, came under investigation last year as part of Operation Corrupt Collector, an enforcement sweep of the debt-collection industry by federal and state officials. In a September lawsuit, New Mexico Attorney General Hector Balderas (D) alleged that the company was seeking to collect debts that were not owed and causing emotional and physical stress when they threaten and intimidate consumers.
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Yet the federal governments Paycheck Protection Program last year also gave the company a helping hand: It provided $2….
Read the full article at: https://www.washingtonpost.com/business/2021/01/15/debt-collectors-payday-ppp/
It was a dramatic end for government super-contractor Carillion when it crashed into insolvent liquidation in January 2018. Part-completed road projects, unfinished hospital buildings and disruption to hospital cleaning and catering heralded the end of this self-styled integrated support services business.
Carillion owed its creditors over 1.5 billion, and when matters came to a head on the back of asset write-downs and a plummeting share price, the government refused to mount a rescue. In the end over 3,000 employees lost their jobs and many supplier firms lost contracts, with domino insolvencies spreading from the rotten core of Carillion.
Now comes the possibility of a regulatory reckoning, at least for eight directors of the public …
Read the full article at: https://theconversation.com/carillion-move-to-disqualify-directors-signals-uk-authorities-getting-tougher-on-corporate-wrongdoing-153390
R3, the insolvency trade body, has launched a new resource for consumers in England and Waleswho want to learn more about personal insolvency processes and managing their debts
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The document, Dealing with money worries a guide to your options, provides an overview of the potential solutions available to those who are worried about their personal finances.
Weve developed this document to provide individuals with all of the information they might need about the various options they can access and to make the idea of seeking help or advice on personal debt issues less overwhelming, said Eleanor Temple, chair of R3 in Yorkshire…
Read the full article at: https://www.yorkshirepost.co.uk/business/new-guide-help-yorkshire-consumers-who-are-worried-about-debts-3101522
The GVP board hopes ACG will vote in favour of liquidation
Associated Capital Group (ACG) has been urged to back a proposed members’ voluntary liquidation resolution by the board of Gabelli Value Plus+ Trust (GVP), as it looks to end a long-running dispute between shareholders.
The GVP board said it would shortly publish a circular to shareholders convening a general meeting, at which it would propose placing the company into members’ voluntary liquidation.
This, the board said, would be the most straightforward and cost-effective way of effecting “the clearly expressed desire of the majority of shareholders’ for a discontinuation of the company”.
Investment trust sector urged to grow in order to ‘stay relev…
Read the full article at: https://www.investmentweek.co.uk/news/4025858/gvp-board-urges-acg-end-long-running-dispute-vote-liquidation
Australian Fashion Labels has failed to pique the interest of a buyer, resulting in an unsuccessful sale of the entire business.
Australian Fashion Labels is a retailer that houses the labels Finders Keepers, Keepsake, The Fifth Label and C/MEO.
Last week the retailer filed for voluntary administration, and currently owes approximately $11 million to three creditors, and a further $1 million to employees, which includes redundancies.
According to a report from Ragtrader, when the Duff & Phelps administrator, Brett Lord, was appointed, there was basically no money in the bank at all.
People had been paid their wages up until the end of last week but there was no money to pay wages or rent or anything else going forward, Lord explained…
Read the full article at: https://powerretail.com.au/news/afl-first-creditors-meeting/
KUALA LUMPUR (Reuters) – Most of AirAsia X Bhds (AAX) lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganization, court documents filed this month show.
In emails attached to the court filings, supportive lessors said they wanted to continue discussions with the budget airline and potential new investors, seeking more equitable terms and new commercial arrangements.
The affidavits come after more than a dozen creditors filed to intervene with its pr…
Read the full article at: https://www.reuters.com/article/airasiax-lawsuit/exclusive-airasia-x-shows-court-creditors-support-for-restructuring-plan-idUSL1N2JQ02Q
MichaelSvoboda | E+ | Getty Images
CNBC Select rounded up the top personal loans to help you dig out of debt, looking at fees, interest rates and flexible repayment options for different credit scores.
Read the full article at: https://www.cnbc.com/select/best-loans-for-refinancing-credit-card-debt/
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The document, Dealing with money worries a guide to your options, provides an overview of the potential solutions available to those who are worried about their personal finances.
Weve developed this document to provide individuals with all of the information they might need about the various options they can access and to make the idea of seeking help or advice on personal debt issues less overwhelming, said Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds.
It explains the options that are available for people who are struggling financially, what they involve and who they are typically suitable for, and we hope it will encourage more people to seek help as early as possible.
…
Read the full article at: https://www.yorkshireeveningpost.co.uk/business/new-guide-help-yorkshire-consumers-who-are-worried-about-debts-3101522
By Yoo Jee-ho
SEOUL, Jan. 15 (Yonhap) — About two weeks before the start of spring training across the league, the Korea Baseball Organization (KBO) has been rocked by its latest gambling scandal.
The Doosan Bears on Tuesday asked the KBO to place two of their minor leaguers, pitcher Jeong Hyun-wook and catcher Kwon Ki-young, on the inactive list, for engaging in illegal betting activities.
Once placed there, they must be reinstated by the league commissioner before they can play again.
Though the latest incident involved little-known minor leaguers, their lack of star power is beside the point. The aftermath of the damaging match-fixing scandal from 2012 and from 2016 is still fresh on the minds of many in the league. Along t…
Read the full article at: https://en.yna.co.kr/view/AEN20210115003000315
Directors of Nixon Hire have hailed the firms resilience in the face of Covid-19, following a year of restructuring to refocus the firm and improve profitability.
The industrial equipment company, first formed 52 years ago and headquartered in Newcastle, initially operated as a plant hire company with room to service no more than three machines at a time.
The company has since grown to own and operate depots across the North East, Scotland, Cumbria and further afield, providing plant, tools, accommodation units, portable toilets and site equipment for hire.
Latest accounts for John Nixon Ltd which trades as Nixon Hire detail how the firm has spent more than a year restructuring the business, following the acquisition of Elliott Group…
Read the full article at: https://www.business-live.co.uk/enterprise/nixon-hire-says-strong-position-19624900
Insolvency Claims in 2021
Given the impact of COVID, insolvencies are on everybodys mindhow to avoid them or how to navigate them. Knowing what to do when you find yourself in the middle of a business or personal insolvency is crucial. Litigation funding may be one of the most valuable tools in the insolvency toolbox.
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Read the full article at: https://litigationfinancejournal.com/insolvency-claims-in-2021/
A major union is taking steps against the liquidation of Egyptian Iron and Steel Company, one of the companies linked to the Ministry of the Public Business Sector, RT reported on Wednesday. The company was established by the then President of Egypt, Gamal Abdel Nasser, in 1954.
The head of the Syndicate of Private Sector Workers called on the government to explain the decision taken at the Extraordinary General Meeting of the company. Shaaban Khalifa pointed out that the liquidation decision will have “negative consequences” for 7,500 workers and their families.
Khalifa added that the EGM took the easiest way out without considering alternatives that could stop the iconic company’s losses, which are estimated at 9 million Egyptian po…
Read the full article at: https://www.middleeastmonitor.com/20210114-union-acts-against-liquidation-of-egyptian-iron-and-steel-company/