Read the full article at: https://www.stuff.co.nz/taranaki-daily-news/news/123376283/long-established-taranaki-taxi-company-goes-into-voluntary-liquidation

Virgin Australia has put a positive spin on the realities of near-empty airports, as a young girl expresses her excitement to be back in the air, by dancing through the airport to INXSs What you need.

Titled You cant keep a good thing down, the campaign is the first major marketing activity since Virgin Australia was placed under voluntary administration on April 21, after failing to secure an agreement on financial support from the Australian Government and investors. The campaign is also launching just days ahead of the airlines sale to Bain Capital going through on Tuesday 17 November.

The travel bans implemented in Australia to control the spread of COVID-19 earlier this year reduced Virgins domestic activity by 90% and led to the s…

Read the full article at: https://mumbrella.com.au/virgin-australia-celebrates-return-to-the-skies-post-covid-and-administration-657826

The strain of corporate debt looms large over the global economy. Months into the pandemic, corporate balance sheets in both advanced economies and emerging markets are more stretched than ever, with aggregate corporate debt standing at historically high levels relative to GDP. At the same time, traditional measures of debt affordability and debt sustainability are deteriorating as the global recession takes hold.

With governments phasing out unprecedented support to business, including through extensive forbearance, we will soon witness a significant spike in corporate insolvencies across the board. This can severely undermine the green and resilient economic recovery the world needs.

Extending Debt-for-Climate (D4C) swaps to the corp…

Read the full article at: https://blogs.worldbank.org/psd/corporate-debt-restructuring-times-covid-19-case-debt-climate-swaps

Debt management

If you have credit card balances that are beyond your ability to repay, creditors may be open to negotiating. Thats when working with a nonprofit or a credit union to create a debt-management plan can be the most helpful.

Certified counselors will help you set up a voluntary agreement between you and your creditors, and set up a single payment for you. Youll pay directly to the non profit, who will handle each of your debt payments on your behalf. Theres no charge and youll likely get reduced or waived charges and fees from your creditors.

Something to consider: Your debt management plan could take three to five years to pay off, meaning you wont be able to open any line of credit until your debts are entirely paid off. …

Read the full article at: https://moneywise.com/a/thepennyhoarder-debt-management-or-consolidation

As U.S. President-elect Joe Biden starts to formulate his foreign policies, the list of regions and issues needing immediate attention is already long. But one that should stand out is Africas debt. Tipped into crisis territory by the economic knock-on effects of the COVID-19 pandemic, it threatens to push the region further into Chinas hands.

Even before the pandemic hit, many African countries had enormous debt burdens, which grew heavier this spring when the value of their currencies fell relative to the foreign currencies in which the debt was denominated. At the same time, the income necessary to make regular interest payments on the debt dried up. Commodity-dependent African economies like Angola and Nigeria rely on oil; demand ha…

Read the full article at: https://foreignpolicy.com/2020/11/12/debt-relief-africa-financing-china-sdr/

The news that Croydon Council has declared itself bankrupt has been on the cards for the past few months but what does it mean for those that live in the borough?

You should still be able to get your bins emptied as this is considered an essential service.

And many will worry about what this means for children and vulnerable people, but social care and education are both on the list of statutory services.

Councils are required by law to have a balanced budget and with a 66 million budget gap projected for this year, director of finance, Lisa Taylor, had to issue a Section 114 notice effectively declaring bankruptcy.

It means for the next 21 days at Croydon Council, all new …

Read the full article at: https://www.mylondon.news/news/south-london-news/croydon-council-bankruptcy-what-croydon-19267199

Virgin Australia is celebrating its emergence from voluntary administration on Tuesday with an early drop of more than half a million fares from $75.

While the best deals are out of Sydney, flights from Brisbane start at $89 – to Newcastle, Proserpine and Sydney – and top out at $159 to Launceston.

The Brisbane-headquartered airline is keen to get Queenslanders flying again after a turbulent year that not only closed down most airline travel due to COVID-19 but also saw it placed into voluntary administration in April owing 12,000 creditors more than $7 billion.

In September Bain Capital, an American investment giant, secured control of Australia’s second-largest airline f…

Read the full article at: https://www.warwickdailynews.com.au/news/flight-frenzy-get-airborne-for-as-little-as-79/4138835/