Insolvency Guardian Media Centre
At one point, Calvin Zhao, who was a 23-year-old graduate student at San Francisco State University, was deep in gambling debt. He managed to find a way out of debt and out of the casinos. Now, he and another man are passing knowledge forward by talking to Asian-American students about gambling debts, and how to gamble responsibly. Their work is part of a larger study on Asian-American young people and gambling. According to their research, Asian-American students are more likely to have unhealthy behavior with regard to gambling. The men have made it their mission to make sure that other Asian students do not spend more money on gambling than they can afford.
Zhaos Experience
Calvin Zhao had just graduated from college and was working whi…
Read the full article at: https://www.usaonlinecasino.com/casino-news/nonprofit-helps-asian-american-students-avoid-major-gambling-debt/
The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the Ahmedabad bench of National Company Law Tribunal (NCLT) to pass appropriate orders in the Essar Steel insolvency case by January 31, failing which the appellate tribunal would take up the matter and pass orders in the case on February 4, when it will hear the matter. The NCLT bench of Ahmedabad has reserved its order on a maintainability plea moved by erstwhile promoters of Essar Steel who have offered to settle the debt by paying back all the creditors.
Appearing for ArcelorMittal, Senior Advocate Neeraj Kishan Kaul on Wednesday said that the Supreme Courts order of October in the Essar Steel insolvency case h…
Read the full article at: https://www.business-standard.com/article/companies/conclude-essar-steel-insolvency-case-by-january-31-nclat-to-nclt-119012301227_1.html
The RSA will enable the Company to emerge as a fully integrated Independent Power Producer focused on maximizing the operating and financial synergies of its retail, nuclear and fossil generating assets. The Company will continue operating its nuclear and fossil generation until their previously announced deactivation dates, with a possibility of running the units for an extended period if the Company obtains sufficient legislative support and meaningful market reforms. The Company continues to have constructive dialogue with important stakeholders at the state and federal levels for necessary financial support for its baseload assets that are a critical source of reliable and clean power in Ohio a…
Read the full article at: https://www.prnewswire.com/news-releases/firstenergy-solutions-corp-reaches-restructuring-support-agreement-with-key-stakeholders-300782793.html
We refer to the intimation made on January 21, 2019 for 14th Meeting of Committee of Creditors (COC) and would further like to inform you that the said meeting was conducted on 22nd January, 2019 to provide business and Corporate Insolvency Resolution Process (CIRP) updates and discussion was held between CoC members and the Resolution Applicant about the proposed resolution plan.
This letter may be treated as communication under Regulation 30 and any other applicable provisions, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ushdev-international-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article26068332.ece
The number of people facing financial hardship has increased in Scotland, according to official statistics published on Wednesday.
A report by the Scottish insolvency service Accountant in Bankruptcy (AiB) indicates the total number of personal insolvenciesrecorded in the third quarter for 2018-2019 was 3,198.
It represents an increase of 18% on the same period for 2017-2018, when the figure was 2,707.
The total number of personal insolvencies is calculated by combining bankruptcies, a legal declaration that someone cannot pay their debts and protected trust deeds (PTDs), which is a form of insolvency that transfers a debtors estate to a trustee to be realised for the benefit of creditors.
The figures state there were …
Read the full article at: https://www.gazette-news.co.uk/news/national/17378716.rise-in-number-of-scots-going-bust-report-indicates/
The number of people facing financial hardship has increased in Scotland, according to official statistics published on Wednesday.
A report by the Scottish insolvency service Accountant in Bankruptcy (AiB) indicates the total number of personal insolvenciesrecorded in the third quarter for 2018-2019 was 3,198.
It represents an increase of 18% on the same period for 2017-2018, when the figure was 2,707.
The total number of personal insolvencies is calculated by combining bankruptcies, a legal declaration that someone cannot pay their debts and protected trust deeds (PTDs), which is a form of insolvency that transfers a debtors estate to a trustee to be realised for the benefit of creditors.
The figures state there were 1,217 bankruptcies…
Read the full article at: https://www.shropshirestar.com/news/uk-news/2019/01/23/rise-in-number-of-scots-going-bust-report-indicates/
The cross-border insolvency framework released for discussions encompasses authorities across jurisdictions pertaining to insolvency proceedings of any single corporate debtor.
Currently several multinational companies (MNCs) hold their assets in foreign jurisdictions through subsidiaries which are distinct legal entities. Consequently, the commencement of insolvency proceedings for any single company cannot be extended to all its group companies under the proposed legal framework.
What is required is to promote effective group companies insolvency by consolidating companies within a group and allowing restructuring of the groups assets and liabilities as though only one entity existed.
This is possible by permitting insolvency proceedin…
Read the full article at: https://www.livemint.com/companies/news/dealing-with-cross-border-insolvency-of-a-single-corporate-entity-1548182663063.html
Amlak Finance, a Dubai-based Sharia-complaint home financier, initiated talks with creditors to restructure debt, which the company restructured previously.
The company had restructured its Dh10.2 billion investment deposits and settled Dh2.8bn in cash with financiers in 2014 and subsequently revised the terms of the 12-year restructuring deal in 2016, the company said in a statement on Wednesday to the Dubai Financial Market, where its shares are traded.
The restructuring agreements have allowed for the resumption of normal business activity and enabled the company to pay Dh4.3bn, or 48 per cent of its total debt outstanding to financiers, and the redemption of Dh275 million…
Read the full article at: https://www.thenational.ae/business/banking/amlak-resumes-talks-with-creditors-to-renegotiate-debt-restructuring-1.816893
The
iHeart Media headquarters is shown Thursday, March 15, 2018, in
Phoenix.
AP Photo/Matt
York
-
iHeartMedia on Monday announced that the United States
Bankruptcy Court for the Southern District of Texas has
confirmed the Companys Plan of Reorganization. -
The Company expects to complete its restructuring
process in the first half of 2019. -
Under the terms of the Plan, iHeartMedia will complete
a comprehensive balance sheet restructuring that will reduce
its debt from $16.1 billion to $5.75 billion. -
Additionally, the company will separate Clear Channel
Outdoor Holdings, Inc. from iHeartMedia, …Read the full article at: https://www.businessinsider.com/iheartmedia-bankruptcy-reorganization-plan-2019-1
Dear Sir / Madam,
We would like to inform you that 10th meeting of Committee of Creditors of Sterling Biotech Limited was held on Tuesday, 22nd January 2019 at 02.00 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article26068117.ece
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Buyers will have their deposits refundedafter learning a long-delayed Russell Vale housing subdivision has been sold off and the developer gone into liquidation. A 19-lot residential housing development, Tallowoods estate had been previously been stalled after the developer was forced to stop work and clean upasbestos contaminationon the site. Purchaserspaid a deposit to the developer,a company called Keerong Investments,for land off the plan about five years ago. Buyers were recently informed that the entire development had been sold, and the developers had gone into liquidation. One of the buyers,Brett Kelly said the buyerswere seeking legal advice on why their contracts couldnt have been carried over to the subdivis…
Read the full article at: https://www.illawarramercury.com.au/story/5866922/theres-not-much-we-can-do-tallowoods-buyers-outraged/
Democratic Sen. Elizabeth Warren promised to help rebuild Puerto Rico from Hurricane Maria and support laws to give the U.S. territory equal treatment and debt relief as she condemned President Donald Trump during a visit Tuesday to the island, which has become an obligatory stop for potential and presidential candidates.
Warren demanded the resignation of Brock Long, administra…
Read the full article at: https://www.charlotteobserver.com/news/nation-world/world/article224925580.html