Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Debt relief is high on the agenda in South Africa’s G2-presidency as it uses its hosting of the global forum to champion a more inclusive global system.
In this regard, it established the G20 Africa Expert Panel to address Africa’s debt crisis, among other issues, proposing solutions such as reforming global financial structures, enhancing local currency bond markets, and boosting domestic resource mobilisation.
The expert panel, led by former South African finance minister Trevor Manuel, emphasises a shift from aid to investment-driven growth, advocating reforms that lower capital costs for African nations and increase their agency in development.
The panel also counts among its 25 members African Development Bank Vice president and…
Retirement is supposed to be a time of financial stability—but for millions of seniors, credit card debt is turning it into a daily struggle. As inflation drives up the cost of living, more retirees are relying on plastic to cover basic expenses. The result? A quiet crisis that’s growing worse every month. With fixed incomes and limited borrowing options, older Americans are falling deeper into debt—and many don’t know where to turn.
Fixed Incomes Can’t Keep Up
Most retirees rely on Social Security, pensions, or savings that don’t adjust quickly to inflation. When prices rise for groceries, utilities, and medical care, those fixed incomes fall short. Credit cards become a lifeline—but…
New Delhi, Nov 7 (PTI) In a major relief to realty firm Mahagun, the National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against it and directed the NCLT to hear the petition afresh, considering the fresh status report filed before it over the projects.
The National Company Law Appellate Tribunal (NCLAT) has provided major relief to real estate developer Mahagun by setting aside the insolvency proceedings against the firm and directing the NCLT to reconsider the case, taking into account the latest status report on the projects. (Representational Image) (Unsplash )
A two-member bench of the appellate tribunal said the NCLT should have taken into consideration the directions issued by the Supreme Court in…
According to the analysis, the sector has not caused a debt crisis, accounting for only between 0.2% and 0.5% of household consumption and 0.1% to 0.3% of the national GDP. Brazilian families spend around 30% of their income paying off debts — and this figure does not include current housing costs. What is the impact of sports betting on that percentage? LCA Consultoria Econômica conducted a study that answered this question: the impact is less than 0.5%.
This means that the main difficulty Brazilians face in reducing debt-related expenses is due to other factors, such as the high interest rates charged by banks, says André Gelfi, director and co-founder of IBJR. “The formal financial system charges interest rates as high as 451%…
The pioneer streaming platform Idagio has applied to Berlin’s Charlottenburg Court to approve its self-administered insolvency. The plan is said to ensure the continuation of IDAGIO’s classical music service, without job losses.
The press release (below) makes no mention of Idagio’s visionary founder Till Jjanczukowicz.
“This is very good news for our subscribers and for the entire team,” said Managing Director Erwin Stürzer, who oversaw the self-administration process. He was supported by attorney Olaf Schubert and restructuring expert Dr. Christian Matiebel. The court appointed Dr. Sven Kirchner of the law firm Münzel & Böhm as insolvency monitor.
From 28 to 30 November, Castel Gandolfo will be host to ‘Restarting the Economy’, a global meeting promoted by The Economy of Francesco. The international event will be aimed at rethinking the economy in light of the Jubilee, focusing on social justice, care for the Earth, and freedom from debt.
By Aiza Asi
From the ancient practice of debt remission to the cold, calculating mechanisms of modern global finance, humanity has long wrestled with the chains of debt. But what if justice isn’t about punitive retribution, but radical liberation? Is it possible to forge a new economy, not on the shifting sands of endless accumulation, but on the solid bedrock of forgiveness?
Debt is not merely an economic transaction; it is a…
Miyoko Schinner, the founder of Miyoko’s Creamery, is attempting to reacquire the plant-based dairy company she launched in 2014. Schinner’s bid comes after the company entered an Assignment for the Benefit of Creditors (ABC) process, an alternative to bankruptcy, following financial difficulties. The ABC process was initiated in early October after Miyoko’s Creamery was unable to meet its debts.
“I believe I am the best chance for reviving the brand and really putting it back on the map”
Schinner, who parted ways with the company in 2022 after being removed as CEO, shared her intention to make a bid for the company on her GoFundMe page. In her post, Schinner explained that she had been informed about the…
Meaders Hair Limited, which trades as Meaders Hair & Beauty in Corn Street, Witney, was placed into voluntary liquidation last month.
This means the registered company is being wound down – in this case with debts that need to be settled to creditors.
HMRC is owed £38,638 in unpaid VAT, £16,390 in unpaid PAYE and National Insurance Contributions and £14,176 to the Corporation Tax Services department.
The company’s sole director, shareholder and founder Luke Meader, 42, is listed as a creditor being owed £2,468.
Debts of £20,280 are owed to Lloyds Bank for a Bounce Back Loan and the finance group Liberis is waiting on £24,567, a statement of affairs released on Companies House reveal.
