Insolvency Guardian Media Centre
The biggest threat to farmers with financial issues is that they are going to the wrong people for advice or looking for that advice too late, according to Gary Digney.
he chartered accountant and personal insolvency practitioner devised a recent landmark Personal Insolvency Arrangement (PIA) for a Roscommon farming couple who owed more than 500,000 to a bank and other creditors. The Circuit Court ruled that the couple, who were represented by Keith Farry BL, could avail of the PIA despite creditor opposition to the arrangement.
The decision is one of a number in the last eight months where both a residence and a family farm have been saved through a PIA. It is the first time such an arrangement has been approved in the face of creditor op…
Read the full article at: https://www.independent.ie/business/farming/news/how-a-personal-insolvency-arrangement-can-help-farmers-escape-a-debt-trap-39431691.html
Network Ten will axe local news bulletins in Adelaide, Brisbane and Perth in sweeping changes likely to be accompanied by widespread job cuts in three states.
High-profile presenters Kerri-Anne Kennerley, Natarsha Belling, Tim Bailey and Mike Larkin will reportedly lose their jobs as part of the cost-cutting.
Under a major restructure of its news operations, the Brisbane and Perth bulletins will be presented in Sydney from September 14.
Melbourne will present the Adelaide bulletin.
Presenters, journalists and operations staff are all targeted under the widespread cuts.
Among the first to announce they were leaving the network was Adelaide newsreader Rebecca Morse.
These painful changes reflect the state of t…
Read the full article at: https://thenewdaily.com.au/entertainment/tv/2020/08/11/network-10-axes-staff-bulletins/
That need for discretion meant Mr Hodgkinson was reluctant to name any of the firms high-profile clients.
But he did note he had played a role in helping billionaire Bruce Gordon buy a 50 per cent stake in National Rugby League club St George Illawarra Dragons in 2016.
There is lots of demand [for our services] amid COVID because nobody knows what the situation post-COVID will look like, he said.
Olvera Advisors, which launched in July, also has as founding partners Kate Barnet, Hugh Armenis and Lucy Vecchio, along with 15 consultants on staff.
The partners generated $8 million in revenue last financial year in their prior roles and are aiming to grow revenue at the new firm by 40 per cent a year over the next three years and to double …
Read the full article at: https://www.afr.com/companies/professional-services/the-firm-helping-rich-listers-protect-their-assets-20200729-p55gjb
COSTA MESA, Calif.–(BUSINESS WIRE)–Law firm Smiley | Wang-Ekvall leaders in business bankruptcy; insolvency and reorganization law; business litigation; and real estate transactions – announced today that Founding Partners Lei Lei Wang-Ekvall and Kyra Andrassy have been named in the inaugural Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers Guide. The publication says the masters of disaster recognized here bring remarkable skills in financing, structuring, litigating and creating a pathway forward. Not even Houdini could wrest the chains of these times, but these experts know all the tricks for those companies seeking a fighting chance.
This is an extraordinary list of bankruptcy professionals and we are honored to b…
Read the full article at: https://www.businesswire.com/news/home/20200810005676/en/Smiley-Wang-Ekvall-Attorneys-Named-Lawdragon-Leading-U.S.
Hundreds of employees at WarnerMedia are being let go on Monday as part of a company-wide restructuring.
Among the staffers being let go are Jeffrey Schlesinger, the president of Warner Bros. Worldwide Television Distribution. Ron Sanders, who served as president of Warner Bros. worldwide theatrical distribution and home entertainment as well as executive vice president of international business operations, as well as Kim Williams, EVP and CFO of Warner Bros. Entertainment, are also departing.
Schlesinger had been with Warner Bros. for over three decades. For a decade starting in 1984, he served as senior vice president of international television distribution at Warner Bros. and at Lorimar Telepictures, which was acquired by Warner Bro…
Read the full article at: https://variety.com/2020/film/news/layoffs-warner-bros-warnermedia-hbo-1234730458/
TORONTO, Aug. 10, 2020 /CNW/ — Quisitive Technology Solutions Inc. (“Quisitive” or the “Company“) (TSXV: QUIS), a premier Microsoft solutions provider that helps customers navigate the ever-changing climate that their business relies upon, is pleased to announce the successful completion of its debt consolidation initiatives pursuant to the terms of a loan agreement entered into between the Company, certain material subsidiaries of the Company, as guarantors, and a leading Canadian Schedule I Chartered Bank (the “Bank”) dated August 10, 2020 (the “Loan Agreement“).
The Loan Agreement provides for a five-year term loan of US$16,133,000 (the “Term Loan“) and a revolving operating line of credit of up to US$5,000,000 (the “Operating Line“…
Read the full article at: https://www.newswire.ca/news-releases/quisitive-announces-debt-consolidation-867358959.html
This is an opinion article by an external contributor. The views belong to the writer.
Measures announced by Cambodiasbanks and microfinance lenders to help clients who are unable to repay because of COVID-19 are grossly inadequate. Debt relief, the only realistic way to help these stricken borrowers, is now essential.
This is the only way out which will not lead to widespread seizures of land and property from impoverished farmers.These people were in many cases rashly encouraged to borrow to generate profits for the banks and microfinance lenders in Cambodia over the last 20 years.
As I argued in The Brussels Times in July, Cambodias largest microfinance lender ACLEDA has betra…
Read the full article at: https://www.brusselstimes.com/opinion/125906/cambodian-microfinance-borrowers-urgently-need-debt-relief/
Payment freezes on personal loans are masking the true nature of deteriorating personal finances, an insolvency expert has warned.
Analysis by debt industry data company TDX Group found the volume of individual voluntary arrangements (IVAs) and trust deeds decreased by 39 per cent between the first and second quarter of 2020 and is down 38 per cent annually.
However, David Heathcote, personal insolvency expert at TDX Group, is predicting a steep rise in the fourth quarter and next year as borrowers come off payment holidays.
Read more:RateSetter reports slowdown in requests for payment breaks
Unfortunately, this trend is mainly due to the temporary relief of forbearance, and a truer picture will emerge with an expected steep rise in pe…
Read the full article at: https://www.p2pfinancenews.co.uk/2020/08/10/personal-insolvencies-set-for-rapid-rise-in-fourth-quarter-as-payment-breaks-end/
NEW data has revealed the number of personal insolvencies recorded in Mackay and Whitsunday in June quarter 2020, compared to March quarter 2020.
The figures by Australian Financial Security Authority show new personal insolvencies fell 21.6 per cent in capital cities in the June quarter compared to the previous quarter.
They decreased in all capital cities except Greater Darwin.
Over the June quarter 2020, new personal insolvencies also fell 17.7 per cent in regions outside capital cities.
The Greater Brisbane regions with the highest numbers of debtors entering personal insolvency were Springfield – Redbank (47), North Lakes (35) and Narangba – Burpengary (34).
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Read the full article at: https://www.dailymercury.com.au/news/how-many-people-in-mackay-went-bankrupt-in-june-qu/4075596/
Understanding how your marriage contract will impact the management of your familys finances is essential to a happy marriage and a secure financial future, notes Cyber Finance, a debt management company.
If you get married without drawing up an ante-nuptial contract, you will automatically be regarded as being married in community of property because this is the default contract in South Africa.
While you may save some money by not paying a lawyer to draw up an ante-nuptial contract, a marriage in community of property carries significant financial implications for the couple, it said.
When you are married in community of property, you and your spouse share the risks and the benefits of a joint estate. No asset can physically be divide…
Read the full article at: https://businesstech.co.za/news/wealth/423270/how-being-married-in-community-of-property-impacts-your-debts-as-a-couple/
BELGRADE,Mont., Aug. 10, 2020 (GLOBE NEWSWIRE) Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced that it has entered into a Restructuring and Exchange Agreement with the lenders under its credit facility pursuant to which the parties agreed to take certain actions to restructure Xtants outstanding indebtedness, including the exchange of certain indebtedness outstanding under the facility, together with accrued and unpaid interest thereon, into shares of Xtant common stock.
The primary purpose of the restructuring is to improve Xtants capital structure by reducing its outstanding debt, which the Company expects will…
Read the full article at: https://orthospinenews.com/2020/08/10/xtant-medical-announces-debt-restructuring/
President Donald Trump signs executive orders extending coronavirus economic relief in Bedminster, New Jersey, on Aug. 8.
JIM WATSON | AFP | Getty Images
Trump’s executive order has already been called unconstitutional, and higher-education expert Mark Kantrowitz said he believes the president doesn’t have the legal authority to implement a payment pause and interest waiver for borrowers.
Still, he said, “it’s unlikely that anybody is going to objectto the executive order with regard to the student loan provisions.”
The payment pause, like the one in the CARES Act, is expected to be automatic. That means you shouldn’t have to call your servicer and ask that your loans be put on hold.
Always be sure to get resolutions in …
Read the full article at: https://www.cnbc.com/2020/08/10/trump-extends-payment-pause-for-student-loan-borrowers-until-2021.html