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
Management of a troubled clinical waste firm have been branded disgusting by workers at its Dundee plant after they vowed to never throw in the towel against insolvency, even if it means staff going without money.
Workers at Healthcare Environmental Services (HES) Wester Gourdie facilityrevealed they have still not met face-to-face with managing directorGarry Pettigrew after he was accused ofdoing a runner from a redundancy meeting last week.
The beleaguered firm, which ceased trading following a stockpiling controversy, handed noticesto more than 100 staff in North Lanarkshire last Thursday after several of its NHS contracts were torn up.
Workers were left dumbfounded after Mr Pettigrew was spotted driving away from a hastily-scheduled …
Read the full article at: https://www.thecourier.co.uk/fp/news/local/dundee/796038/hes-boss-branded-disgusting-over-vow-to-continue-insolvency-fight-despite-staff-being-left-unable-to-claim/
MOSCOW, January 5./TASS/. Wage arrears of bankrupt Transaero Airlines exceed 600 million rubles ($ 8.930 million), a spokesperson for the Russian Investigative Committees transport division in Moscow told TASS on Saturday.
Transaero has debts to more than 7,000 of its former personnel. “More than 1,500 people have been questioned as aggrieved persons,” Natalya Fedorova said.
Earlier reports said the airlines debts to 7,413 staff were 290 million rubles.
Transaero stopped flights in the autumn of 2015 because of a debt of 250 billion rubles ($ 3.7 bln). Somewhat later, the Russian transport authorities revoked its air operator certificate. It w…
Read the full article at: http://tass.com/economy/1038996
This is to inform you that pursuant to the provisions of Regulations 17, 19 and 20 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the third meeting of Committee of Creditors (CoC) of the Corporate Debtor is scheduled to be held on Saturday, January 5, 2018 at 11.00 A.M. at Hotel K.C. Residency, SCO: 377 – 380, Sector – 35B, Chandigarh – 160022
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/parabolic-drugs-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article25918072.ece
The Mumbai bench of the National Company Law Tribunal (NCLT) has accepted a bid by an unregistered union of the premium apparel brand Reid & Taylor India to take over the firm, stalling liquidation and has posted the matter for further hearing on January 8.
Reid & Taylor, owned by the Kasliwal family-run S Kumar Group, which is also facing bankruptcy proceedings, owes over Rs 4,100 crore to banks and other lenders.
The committee of creditors had on December 14, 2018 decided to go in for liquidation as no resolution plan was submitted even though it got eight expressions of interest.
Its lenders and financial creditors include Finquest Financial Solution which is the largest with close to Rs 800 crore of claims, Union Bank…
Read the full article at: https://www.moneycontrol.com/news/business/reid-taylor-nclt-stalls-liquidation-accepts-union-bid-3356211.html
MUMBAI: The Mumbai bench of the National Company Law Tribunal (NCLT) has accepted a bid by an unregistered union of the premium apparel brand Reid & Taylor India to take over the firm, stalling liquidation and has posted the matter for further hearing on January 8.Reid & Taylor, owned by the Kasliwal family-run S Kumar Group, which is also facing bankruptcy proceedings, owes over Rs 4,100 crore to banks and other lenders.
The committee of creditors had on December 14, 2018 decided to go in for liquidation as no resolution plan was submitted even though it got eight expressions of interest.
Its lenders and financial creditors include Finquest Financial Solution which is the largest with close to Rs 800 crore of claims, Union Bank of India,…
Read the full article at: https://retail.economictimes.indiatimes.com/news/apparel-fashion/apparel/reid-and-taylor-nclt-stalls-liquidation-accepts-union-bid-for-company/67391608
Decisions about higher education are already stressful enough without having to worry about the high cost of obtaining a college education or questioning the value of your degree, Brnovich said. Weve secured $22 million in debt relief for Arizonans that will help thousands of students who were saddled with large debts and degrees that were less useful than CEC led its students to believe.
Read the full article at: http://www.tucsonnewsnow.com/2019/01/05/student-debt-relief-available-more-than-arizona-residents/
Three major insurance companies are suing PG&E over the billions of dollars in claims they expect to face from the Camp Fire.
The lawsuits, by Allstate Insurance Co., State Farm and USAA, represent another potentially staggering blow to PG&E, which has already acknowledged problems occurred on a high-voltage transmission tower near where the Camp Fire started Nov. 8.
Multiple lawsuits have been file…
Read the full article at: http://www.bendbulletin.com/home/6818475-151/pge-sued-by-insurance-companies
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) ( 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 senior e…
Read the full article at: https://www.gurufocus.com/news/794882/gainey-mckenna–egleston-announces-a-class-action-lawsuit-has-been-filed-against-yangtze-river-port–logistics-limited-yriv
LOS ANGELES–(BUSINESS WIRE)–Glancy
Prongay & Murray LLP (GPM), a global investors rights law
firm,announces that a class action lawsuit has been filed on behalf of
investors that purchased or otherwise acquired Yangtze River Port and
Logistics Limited (Yangtze River or the Company) (NASDAQ:YRIV)
securities between February 2, 2016 and December 5, 2018,
inclusive (the ‘Class Period’). Yangtze River investors have untilMarch
4, 2019to file a lead plaintiff motion.If you are a shareholder who suffered a loss, clickhereto
participate.OnDecember 6, 2018, Hindenburg Research published a report describing
the Company as a scheme run b…Read the full article at: https://www.businesswire.com/news/home/20190104005554/en/Glancy-Prongay-Murray-LLP-Announces-Filing-Securities
Bookmakers are sending gamblers into debt by advertising only their most addictive products, academics claim
- Universities of Warwick and Bath said customers are drawn in by the high odds
- Bets with lower odds have better long-term return but tend not to feature in ads
- Co-author Dr Philip Newall, from the University of Warwick, has proposed a risks warning system, similar to the alcohol-by-volume percentage on drinks bottles
Tom Witherow For The Daily Mail
Bookmakers are sending gamblers into debt by advertising only their most addictive products, academics have claimed.
Gambling co…
Read the full article at: https://www.dailymail.co.uk/news/article-6559497/Bookmakers-sending-gamblers-debt-advertising-addictive-products.html
MUMBAI: The Mumbai bench of the National Company Law Tribunal (