The agrarian distress has aggravated in the last few years as evinced from several recent demonstrations in various parts of the country. The plight of farmers marching hundreds of kilometres in poor conditions point out to the fact that there has been no meaningful improvement in quality of life of our large populace (around 60%), dependent on agriculture and allied activities, in the past 70 years.

The reaction to this crisis at times is a knee jerk one, such as waiver of agricultural loans, as seen in a few states recently. Its limitations are many. There is a large number of those engaged as agricultural labourers and sharecroppers who a…

Read the full article at: https://www.businesstoday.in/opinion/columns/beyond-debt-relief-what-next-for-farmers/story/303988.html

The National Company Law Appellate Tribunal (NCLAT) has ruled that a personal guarantors right to subrogation against a corporate debtor can be taken away in a resolution plan under the Insolvency and Bankruptcy Code (IBC).

Simply put, a personal guarantor has no right to step into the shoes of a creditor against the corporate debtor (company going through IBC) in case of a resolution plan under the IBC.

This ruling came in an appeal filed by Lalit Mishra & Ors, the promoters of Sharon Bio Medicine Ltd (corporate debtor), against the February 28 order of NCLAT, Mumbai.

Subrogation refers to the substitution of one person or group by another in respect of debt or insurance claim, accompanied by the transfer of any associated rights and dut…

Read the full article at: https://www.thehindubusinessline.com/money-and-banking/in-a-resolution-plan-under-ibc-personal-guarantors-cant-step-into-creditors-shoes/article25821235.ece

ALBANY, N.Y. (AP) Philip Sasser had a familiar, sinking feeling when he saw the yellow envelope in his mailbox. He figured it was another past-due medical bill, but it turned out to be quite the opposite.

I opened it up and it said these bills had been paid off, said Sasser, of Milton, Florida. I didnt understand. It was out of the blue.

Sasser is among the lucky recipients of a letter from RIP Medical Debt, a Rye, New York-based nonprofit that uses money from donors to eliminate crushing medical debt that threatens the financial well-being of hundreds of thousands of American families. The charity says it has erased $475 million in debt for more than 250,000 people since it was founded four years ago.

Its a random act of kindness, …

Read the full article at: https://ktiv.com/2018/12/24/secret-santas-charity-buys-and-erases-past-due-medical-debt/

Ghana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law.

The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses, closing and the transferring of assets of failed business.

Mr Felix Addo, the President of GARIA, made the call at its end of year cocktail reception on the theme: Towards Enhancing the Ease of Doing Business: The Journey So Far in Reforming the Companies and Insolvency Bills.

He said an effective insolvency would prevent the premature disme…

Read the full article at: https://businessghana.com/site/news/business/178747/GARIA-urges-Government-to-pass-corporate-insolvency-law

Ghana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law.

The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses, closing and the transferring of assets of failed business.

Mr Felix Addo, the President of GARIA, made the call at its end of year cocktail reception on the theme: Towards Enhancing the Ease of Doing Business: The Journey So Far in Reforming the Companies and Insolvency Bills.

He said an effective insolvency would prevent the premature disme…

Read the full article at: https://www.businessghana.com/site/news/Business/178747/GARIA-urges-Government-to-pass-corporate-insolvency-law

ALBANY, N.Y. (AP) – Philip Sasser had a familiar, sinking feeling when he saw the yellow envelope in his mailbox. He figured it was another past-due medical bill, but it…

Read the full article at: https://www.wnct.com/news/national/secret-santas-charity-buys-and-erases-pastdue-medical-debt/1673522865