NEIL MITCHELL
(@RNW_…

Read the full article at: https://www.theguardian.com/business/2019/jan/06/rbs-critic-pays-20000-for-billboard-criticising-bank

Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid payment of taxes only to re-establish themselves under different trading names.


This was revealed by Finance minister Mthuli Ncube in the National Assembly last month during the debate on the Finance Bill.


Ncube is proposing the insertion of a harsh clause to the statutes to hold devious directors of companies that are wound up or declared insolvent liable in their personal capacities.


Lawmakers have taken great exception to the proposal which says a director in a company that goes bust and is declared insolvent is immediately liable for the tax liabilities of the firm.

Ncube argued in the National Assembly that su…

Read the full article at: http://www.newsdzezimbabwe.co.uk/2019/01/we-were-duped-of-35-billion-minister.html

After having its SSL and EVSSL certificates deemed untrustworthy by the most popular browsers, VASCO announced that DigiNotar, filed a voluntary bankruptcy petition and was declared bankrupt today. This is unsurprising, since a report issued by security audit firm Fox-IT, who has been hired to investigate the now notorious DigiNotar breach, revealed that things were far worse than we were led to believe.

Read the full article at: https://www.osnews.com/story/25178/diginotar-files-for-bankruptcy/

“As liquidation will get only a meagre value, the creditors will be most affected and the workmen will be losing their livelihood,” the tribunal said in an order passed on January 1 on an RP proposal from the union submitted on Dec. 19, 2018.

The bench cited a recent Supreme Court order in the Arcelor Mittal case wherein the apex court had said observed that the corporate debtor consists of several employees and workmen whose daily bread depends on the outcome of RP. And so if there is a resolution applicant who could continue to run the company as a going concern, every effort must be made to try and see that this is made possible.

Accordingly, “the main objective of the IBC is resolution rather than liquidation. If the liquidation is ord…

Read the full article at: https://www.bloombergquint.com/business/reid-taylor-nclt-stalls-liquidation-accepts-union-bid-for-company

Ahead of the season two premiere of “grown-ish” on Wednesday night, Freeform teamed up with the scholarship app Scholly to help pay off student loan debt.

In the promo, Freeform announced it has partnered with Scholly on a program that will pay off up to $125,000 in student loan debt.

Current students and graduates with an outstanding loan balance may apply for the program, which states that the goal is to “pay off your debt – so you can start living your best life.”

“College is great but student loans suck,” the promo says.

Tony Rivetti/Freeform

The program is now taking first round submissions on myscholly.com or the Scholly app. Winners will be announced at the 2019 Freeform Summi…

Read the full article at: https://abcnews.go.com/GMA/Culture/freeform-promotes-grown-ish-launches-program-pay-off/story?id=60138038

FROM rags to riches and back again.

Former Sunderland striker Asamoah Gyan, who was earning 227,000-a-week at Shanghai SIPG, became the latest start to reportedly go broke yesterday.

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The Ghanaian striker used to drive around in a Rolls-Royce but is now understood to have just 600 in his bank account while being unable to provide for his f…

Read the full article at: https://ghanasoccernet.com/ten-footballers-who-went-bankrupt-after-reports-asamoah-gyan-is-broke

NEW YORK, Jan. 04, 2019 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Yangtze River Port & Logistics Limited (Yangtze or the Company) (Nasdaq: YRIV) in the United States District Court for the Eastern District of New York, on behalf of a class consisting of investors who purchased or otherwise acquired securities of Yangtze between February 2, 2016 through December 5, 2018 (the Class Period), seeking to recover damages caused by Defendants violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 promulgated thereunder.

The Complaint alleges that Yangtze and certain…

Read the full article at: https://globenewswire.com/news-release/2019/01/05/1680856/0/en/Gainey-McKenna-Egleston-Announces-A-Class-Action-Lawsuit-Has-Been-Filed-Against-Yangtze-River-Port-Logistics-Limited-YRIV.html

NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, reminds purchasers of
the securities of Yangtze River Port and Logistics Limited (NASDAQ:
YRIV) from February 2, 2016 through December 5, 2018, inclusive (the
Class Period) of the important March 4, 2019 lead plaintiff deadline
in the first filed case commenced by the Rosen Firm. The lawsuit seeks
to recover damages for Yangtze River investors under the federal
securities laws.

To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html
or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at
866-767-3653 or email [email protected]
or zha…

Read the full article at: https://www.businesswire.com/news/home/20190105005001/en/YRIV-NOTICE-ALERT-Rosen-Law-Firm-Reminds

NEW YORK, Jan. 05, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Yangtze River Port & Logistics Limited (Yangtze or the Company) ( YRIV) Investors are advised to contact Robert S. Willoughby at [emailprotected] or 888-476-6529, ext. 9980.

The investigation concerns whether Yangtze and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

[Click here to join a class action]

On December 6, 2018, Hindenburg Research (Hindenburg) published a report entitled Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report described Yangtze as a scheme run by its Cha…

Read the full article at: https://www.gurufocus.com/news/795003/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yangtze-river-port–logistics-limited–yriv

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen Firm. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.

To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [emailprotected] or [emailprotected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS…

Read the full article at: https://www.globalbankingandfinance.com/yriv-notice-alert-rosen-law-firm-reminds-yangtze-river-port-and-logistics-limited-investors-of-important-deadline-in-first-filed-class-action-yriv/

Many people juggle between a load of bills and loans. If you are one of them, you have to do something to repay this debt. Debt consolidation can be a good option for you to roll away high-interest debts. A person with a manageable amount of debt can regroup multiple bills with different due dates, payments and interest rates. If you are wondering if debt consolidation is best for you, here are some thoughtful approaches.

People may need a debt consolidation loan for the following reasons. These reasons will help you to find out if debt consolidation is best for you.

• If you want to simplify your finances, debt consolidation is suitable for you. Instead of worrying about several debt payments each month, you can turnthem into one.
• With…

  Read the full article at: https://marketbusinessnews.com/is-debt-consolidation-best-for-you/193636/

  Personal and corporate guarantors, whove had to not only shoulder equal liability as the borrower under the insolvency law, now have also lost their right of subrogation.

  Under the Insolvency and Bankruptcy Code, courtsby relying on the Indian Contract Acthave held that the liability of a guarantor and borrower is co-extensive, they have the same liability towards the creditor. If the creditor recovers some amount from the borrower, the liability of the guarantor reduces proportionately and vice-versa.

  But also built in the Contract Act is the right of subrogation for the benefit of guarantors. This means that if a creditor recovers partial or full debt from the guarantor, the guarantor will then be able to step into the shoes of the credi…

  Read the full article at: https://www.bloombergquint.com/law-and-policy/insolvency-law-guarantors-lose-the-right-to-step-into-creditors-shoes