The Liberal Party of Canada is refusing to release details of a fundraiser held by MP Raj Grewal that amassed hundreds of thousands of dollars at a time Grewal was struggling with millions in gambling debts.
With tickets priced at $500 a person, Grewal said the event for the Brampton East Liberal riding association last April attracted 1,200 people, an unusually large crowd for a local fundraiser that featured no party luminaries.
The potential take of up to $600,000 less costs and non-paying guests would have far exceeded the ridings spending limit of $100,000 for a minimum 37-day election campaign.
By contrast, most of the fundraisers included on a Liberal transparency website list fewer than 100 guests, even when Prime Ministe…
Read the full article at: https://nationalpost.com/news/canada/liberals-refuse-to-reveal-details-of-six-figure-fundraiser-for-mp-with-millions-in-gambling-debts
Tomorrow is being billed as D-Day for debt because charities say it is the busiest day of the year for people to seek help with money worries.
But its not overspending devastating the lives of thousands of people, it is basic household bills council tax, rent, energy and water.
We owe 19BILLION in arrears on these essentials, according to Citizens Advice.
Figures from the charity show the top day in the past two years for people seeking debt advice face to face and online was January 31. Last year, 2,762 contacted Citizens Advice on the final day of this depressing month.
Gillian Guy, Chief Executive at Citizens Advice, said: There is always a surge in demand for our debt advice towards the second half of January.
And, like every month…
Read the full article at: https://www.mirror.co.uk/money/how-small-debts-break-basic-13926906
The number of people going financially insolvent across England and Wales jumped to a seven-year high in 2018, official figures show.
Some 115,299 people went insolvent during 2018 marking the third year-on-year increase in a row and the highest annual total since 2011 when 119,943 cases were recorded.
The figures, released by the Insolvency Service, are made up of bankruptcies, which are often seen as a last resort; debt relief orders (DRO), which are aimed at people with lower debts but no realistic prospect of paying them off; and individual voluntary arrangements (IVAs), where money is shared out between creditors.
Of the people who went insolvent last year, 61.6% used an IVA, 24% used a DRO and 14.4% entered bankruptcy.
Meanwhi…
Read the full article at: https://www.bmmagazine.co.uk/news/personal-insolvencies-in-england-and-wales-jumped-to-seven-year-high-in-2018/
Express News Service
CHANDIGARH: Underscoring the tight financial situation faced by the state, Chief Minister Capt Amarinder Singh on Wednesday sought from the 15th Finance Commission a Special Debt Relief Package along with a one-time package to enable payment of the entire debt of the distressed farmers of Punjab.
At a meeting of the fifteenth Finan0000ce Commission here, Amarinder noted with concern the permanent loss of revenue suffered by the state post-GST implementation, whose compensation from the Centre will also end from July 1, 2022, resulting in a drastic fall in revenue in the range of Rs 10,000 to 12,000 crore per annum. In view of the loss, he urged the Commission to recommend a graded compensation …
Read the full article at: http://www.newindianexpress.com/nation/2019/jan/30/cm-amarinder-seeks-special-debt-relief-package-says-post-gst-revenue-loss-rs-12000-crore-per-year-1931999.html
While the number of insolvency cases are expected to pile up over the next few quarters, timely conclusion of cases within the law mandated 180-270 days can free up as much as Rs 67,000 crore to the system, says a report.
Since the bankruptcy law came into being from May 2016, close to 3,000 companies have been sent to various NCLTs for resolutions of which only 586 have been closed so far while 63 have been withdrawn after the law was amended last year under which Section 12A has been inserted into the original law.
According to Icra, as of December 2018, as many as 898 corporate insolvency cases are awaiting a resolution as against 768 cases as in September 2018. Up to December 2018, only 79 cases have yielded a resolu…
Read the full article at: https://www.moneycontrol.com/news/business/economy/timely-nclt-resolutions-can-release-rs-67000-crore-to-lenders-icra-3453681.html
Kinney Recruiting LLC
Description
An Am law firm in the Midwest has an immediate need for an associate for its Business Restructuring and Bankruptcy practice group in Ohio. The winning candidate will have 2-5 years of bankruptcy practice experience and outstanding academic credentials. Judicial clerkship for a bankruptcy judge is a plus. Must be barred in Ohio.To be considered, please submit your resume to [email protected]
Apply
…
Read the full article at: https://abovethelaw.com/job/junior-to-mid-level-bankruptcy-corporate-restructuring-associate-attorney-88434/