Insolvency Guardian Media Centre
The 73-year-old and his partner Ria have been living in poverty in southeastern Bulgaria for the last two months, only to receive help after his story grabbed huge attention in the Netherlands following a TV documentary shown last Sunday.
They survived the freezing conditions in a broken-down van, lacking electricity, water and sanitary facilities, and looking after stray dogs, but Rias health deteriorated suddenly and she was rushed to hospital on Friday in critical condition.
Lubbers said her condition had improved slightly but she would remain in hospital for a few more days at least.
The most important (thing) now is that my girlfriend returns in good condition and can see the dogs again,” Lubbers told Reuters just outside the dilapidat…
Read the full article at: https://www.sbs.com.au/news/dutch-boxer-who-fought-ali-still-riding-punches-in-bulgaria
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology.
Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May 2013.
The next day, one of the students made a Facebook post about the incident.
“Just got kicked out of the unsigned indigenous computer room,” Alex Wood wrote.
“QUT stopping segregation with segregation?”
Jackson Powell, another of the boys kicked out, responded with: “I wonder where the white supremacist computer lab is”.
Another QUT student Calum Thwaites, who was not told to leave th…
Read the full article at: https://www.news-mail.com.au/news/cindy-prior-declared-bankrupt-years-after-telling-/3637075/
With the palladium price more than $500/oz more expensive than platinum, which is trading at about $812/oz and no signs of palladium supply matching demand any time soon, autocatalyst makers are moving closer to substituting palladium with platinum, Muller said.
There are no short-term levers to pull to increase palladium by any miners, particularly in SA, where the bulk of platinum group metal (PGM) mining is underground and it takes years to build news mines or develop access to reefs with a higher palladium content, Muller said.
The work Implats, the worlds second-largest platinum miner, has done with its mines so far, with the introduction of Mark Munroe to oversee the core yet unprofitable asse…
Read the full article at: https://www.businesslive.co.za/bd/companies/mining/2019-02-03-higher-metal-prices-open-options-for-implats-in-restructuring-plans/
RCom on Friday said that it has decided to file for insolvency as the proposed asset monetisation plan failed to make any progress.With Anil Ambanis Reliance Communications (RCom) filing for insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), the Department of Telecommunication (DoT) is likely to take a hit over its claim of Rs 2,900 crore, legal expert Punit Dutt Tyagi said. RCom on Friday said that it has decided to file for insolvency as the proposed asset monetisation plan failed to make any progress.
The company has decided to approach NCLT under Section 10 of the IBC and the resolution process would remain the same as in the case of proceedings initiated by an operational creditor. With RCom undergoing insolvency,…
Read the full article at: https://www.financialexpress.com/industry/as-anil-ambanis-rcom-files-for-insolvency-dot-likely-to-take-a-hit/1474531/
Super priority lending (also known as rescue financing) has been recognized in many jurisdictions. In India, it has now been expressly covered, to some extent, under the Insolvency and Bankruptcy Code, 2016 (IBC). It falls under the realm of interim finance, which is provided during the corporate insolvency resolution process of an Indian corporate debtor under the IBC. Lenders generally provide super priority lending or rescue financing to provide bridge funding or interim financing for reviving a viable borrower from the distressed situation while having a priority in repayment of such financing over existing lenders.
HSA Advocates
The IBC was enacted to amend and consolidate the existing laws relating to…
Read the full article at: https://www.vantageasia.com/rescue-financing-helping-hand-entities-distress/
Last year corporate deaths rose to levels not seen in five years. On almost every level, personal and company insolvencies are rising, and fast, according to the Insolvency Service. It is bleak news in a bleak midwinter.
Maybe that is not a surprise.HMV and House of Fraser were just two of the high street names that collapsed last year. Then there was Conviviality and more recently Patisserie Valerie, the Luke Johnson-led cake chain. And of course, Carillion, the outsourcer that went spectacularly bust a year ago.
Perhaps more remarkable is that the highest number of failures in the last quarter was in the construction industry. Retailers and wholesalers came second and eateries and inns ranked third, said the Insolvency Service.
Wind-…
Read the full article at: https://www.ft.com/content/e5deb838-2580-11e9-8ce6-5db4543da632
PERSONAL insolvency in Caloundra was up 35 per cent last quarter with 27 people applying for bankruptcy.
That is compared with 20 for the previous quarter, according to data released by the Australian Financial Security Authority.
While individuals in Caloundra were hard hit, business-related insolvencies were down from 11 to four.
Across the Sunshine Coast hinterland, 17 personal bankruptcies were reported in the December quarter, compared with 10 in the three months to September.
The data revealed that across the Sunshine Coast, business-related bankruptcies had declined. A total of 39 were recorded in the September quarter, down to 24 last quarter.
Personal insolvencies increased by just one, to 87 last quarter compared.
Nambour showed th…
Read the full article at: https://www.sunshinecoastdaily.com.au/news/personal-bankruptcy-on-the-rise-in-caloundra-hinte/3638106/
At the suggestion of various family members, I turned to the famed 5:2 diet, in which you eat normally for five days and fast for two days each week. Within a month I had shed four kilograms.
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For me, 5:2 was like a factory reboot: it quickly and effectively reset my settings. It helped me undo some old eating habits and develop a new normal quickly.
The same principles apply when it comes to money.
Deborah Southon, director of debt and budgeting specialists Fox Symes, says doing a “fast” of sorts when it comes to spending can be very powerful at this time of year.
The beginning of the year is always the busiest time when it comes to people seeking help with debt, Southon says.
The festive period sees many Australians begin the new year…
Read the full article at: https://www.smh.com.au/money/planning-and-budgeting/how-to-go-on-a-spending-diet-to-tame-the-money-beast-20190130-p50um0.html
The interests of banks, financial institutions and other lenders and recovery of loans advanced by them is at the heart of the insolvency framework introduced by the Insolvency and Bankruptcy Code, 2016 (code). Although the code has been brought into being to protect the interests of the lenders, no lender wants a transaction to enter insolvency proceedings.
There are many provisions in loan agreements that may not protect the lenders interest before the insolvency proceedings are initiated. The provisions under existing loan documentation need to be revisited.
SNG & Partners
Definition of financial indebtedness: The lenders prefer to keep restrictive covenants with respect to the financial indebtedness of th…
Read the full article at: https://www.vantageasia.com/revisiting-loan-documents-light-insolvency-code/
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology.
Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May 2013.
The next day, one of the students made a Facebook post about the incident.
“Just got kicked out of the unsigned indigenous computer room,” Alex Wood wrote.
“QUT stopping segregation with segregation?”
Jackson Powell, another of the boys kicked out, responded with: “I wonder where the white supremacist computer lab is”.
Another QUT student Calum Thwaites, who was not told to leave th…
Read the full article at: https://www.dailyexaminer.com.au/news/cindy-prior-declared-bankrupt-years-after-telling-/3637075/
Sir, A letter from the Community Action Network in relation to the Abhaile scheme (January 30th) implies that as the recently published report shows that 30 per cent of people who have received advice on foot of the scheme have a solution in place or will have within one year of taking up advice, therefore the service is failing 70 per cent. What the report says is that over and above the 30 per cent referred to, a further 53 per cent of borrowers who engaged with Abhaile are still in their homes and are receiving ongoing support from their Abhaile financial adviser who is working with the borrower to get a solution in place.
…
Read the full article at: https://www.irishtimes.com/opinion/letters/abhaile-scheme-and-debt-advice-1.3777907
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GreenSpace will reap CAD1.8m from the deal and also royalties based on revenue |
Loss-making Canadian food manufacturer GreenSpace Brands is undergoing a strategic restructuring process which will include the disposal of its Rolling Meadow Dairy brand and a reduction in its headcount.
Nine jobs are set to go as part of changes to the business model being instigated by Toronto-based GreenSpace, which also said in a statement late yesterday (31 January) that chief financial officer Greg Guyatt will be leaving the firm for another senior finance position. Cindy Leung, who is currently vice president of finance, will fill the role on an interim basis.
Guyatt only joined the Toronto-listed business during the summer, when he r…
Read the full article at: https://www.just-food.com/news/loss-making-greenspace-brands-restructuring-sees-sale-of-rolling-meadow-as-cfo-departs_id140868.aspx