Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Piaggio Aerospace, the traditional Italian aircraft manufacturer, has filed for insolvency. The company, which was controlled by Abu Dhabi-based investment
LIMERICK, Ireland--(BUSINESS WIRE)--Waypoint Leasing Holdings Ltd., the largest independent global helicopter leasing company, today announced that it and certain of
Catch Group has launched a new website, but instead of offering steeply discounted apparel, dishwashing tablets and other household items, the new site offers competitively priced personal loans intended to help customers fund their everyday lives.
Catch has partnered with debt consolidation company, Now Finance, to provide the loans and is offering up to $750 cash back and a free annual Club Catch membership, valued at $69, to customers who take out a loan.
The move comes after Catch Group launched Catch Connect, a mobile phone offering, in February as part of a burgeoning diversification strategy.
What weve built is a strong brand that stands for good value great deals on high-quality products, Catch Group CEO Nati Harpaz told IR….
Piaggio Aerospace, the traditional Italian aircraft manufacturer, has filed for insolvency. The company, which was controlled by Abu Dhabi-based investment association Mubadala, declared bankruptcy on 22 November. According to Italian media, the decision wasnt made easy but was necessary for a complete restart. PiaggioAerospace needs to escape ongoing uncertainties stemming from its current financial situation. The main reason for the filing is that Piaggiosaircraft, including the Avanti Evo and the P.1HH, which were made for business companies, were not selling well.
About 1200 people are employed by Piaggio. The future of these positions is unclear.
Piaggio was founded in 1884 in Genoa, Italy. After some success producing motor vehicl…
LIMERICK, Ireland–(BUSINESS WIRE)–Waypoint Leasing Holdings Ltd., the largest independent global
helicopter leasing company, today announced that it and certain of its
subsidiaries (collectively Waypoint or the Company) have filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy Code
in the U.S. Bankruptcy Court for the Southern District ofNew York (the
Court). Waypoint expects to move through the restructuring process as
expeditiously as possible and is committed to working with its lenders
and all stakeholders towards a speedy and successful transformation. To
this end, Waypoint has run a comprehensive sale process over the past
months, has recei…
Almost 60,000 people in financial difficulty have deferred property tax payments worth more than 7 million, according to the latest figures.
Householders have delayed payment for numerous reasons including low income levels, current financial hardship, personal insolvency or as the personal representative of a deceased person.
Faced with mounting foreign debt, some of which may have resulted from dubious loan agreements, the Maldives is looking at India for more budgetary support to help Male meet its development goals:
Ahead of his meeting with Indian leaders on Monday, Maldives foreign minister Abdulla Shahid told TOI that Male was still trying to study the implications of the debt accumulated by the previous Abdulla Yameen government as figures provided by government officials on foreign debt did not necessarily “tally with the Chinese estimates”.
The Maldives is said to owe close to 70 per cent of its external debt to China.
“We hope that India will be generous enough to help us with the initial management of any shortfall we might face. We know that the…
Businesses are sidestepping tax bills amounting to tens of millions of pounds using an insolvency procedure that the government is considering banning. That is the conclusion of an independent panel set up by the government to monitor the use of insolvency arrangements known as pre-packs.
The Pre Pack Pool says some businesses have used the procedure to shed tax bills and pension liabilities. I have seen cases where the objective[of the pre-pack] was avoidance of liabilities, said Stuart Hopewell, co-director of the Pre Pack Pool, introduced in 2015 to provide opinions on pre-packs involving sales to connected parties.
We are unable to stop the process going through even if our opinion is the objective of the process is to avoid liab…
Managing your debt can be key to managing your finances properly. Whether you have multiple small loans or a number of credit card payments, youre forced to contend with many bills and payments on a monthly basis.
This can get tiresome or even confusing over time. In such a situation, consolidating all your monthly payments into a single monthly instalment can be a good move.
What is Debt Consolidation?
With multiple payments coming out of your account every month, keeping a tab on the different rates of interest, loan terms, or even the payment date can get complicated. But, what if you could unify all these different payments into one with a fixed interest rate, a fixed term, and a si…
The pre-Christmas sales are now in full swing and retailers are bombarding us with their so-called too good to miss offers.
But now can also be a particularly dangerous time for people being tipped into debts by festive spending which they could spend much of 2019 trying to pay off when bills thud onto doormats.
Previous research from the Money Advice Trust charity suggests more than a third (37%) of people put last Christmas on credit, and 13% of people say they regularly worry about money in the run-up to Christmas.
While for some, their money problems may simply stem from not sticking to their budge…
The self imposed 100 days deadline almost over the PTI (Pakistan Tehreek-e-Insaf) led government is yet to get its act together. Especially on the economic front there is confusion worst confounded.
The prime minister during the period has made quick dashes to Saudi Arabia, China, UAE and Malaysia ostensibly to get financial assistance in order to have less reliance on a yet elusive IMF loan bailout. Khans logic simply being that lesser the size of the IMF package the better it is for Pakistan.
The nature and the terms of assistance barring Saudi Arabia are still shrouded in secrecy. Riyadh has already deposited $1 billion in Pakistans State Bank with $2 billion to follow in order to shore up its reserves. Similarly Islama…
IMF faces China debt dilemma as low income nations seek help
The IMF has warned for more than a year of rising debt levels in low income countries. Now, bailout talks with Pakistan and requests for help from Angola, Zambia and others are forcing the fund to confront a pressing question: how far is debt distress in the developing world due to lending by China?
The trouble is, no one has the information needed to answer this question and so ensure that Beijing plays its part in any writedowns of debt to official creditors.
In the past decade, China has stepped into the gap left by western donors, offering no-strings finance for political allies and for projects advancing its commercial and geopolitical interests.
The Kerala State Fishermen Debt Relief Commission (KSFDRC) will probe fishermens complaint that some banks are denying debt relief to them using questionable methods.
KSFDRC Chairman P.S. Gopinathan, who was in the city for an adalat, said the banks were found adopting a renewal tactic, hoping it would help them surpass the commissions order for debt relief. Even if renewal or closure was done by a fishermen, responding to the banks frequent demands and persuasion, he is eligible for debt relief with retrospective effect, he added.
Mr. Gopinathan said some banks had been adopting renewal strategy with a misconception that it was enough to cancel all previous agreements between lenders and borrowers. Some even pretend to be ignorant of th…
The insolvency law has helped in directly and indirectly addressing stressed assets worth Rs 3 lakh crore in the last two years, a senior government official said on Saturday.
More than 9,000 cases have come for redressal under the Insolvency and Bankruptcy Code (IBC), which became fully operational in December 2016.
Corporate Affairs Secretary Injeti Srinivas said there has been a direct and indirect impact of the Code on stressed assets worth close to Rs 3 lakh crore.
The estimated amount, included recoveries made through resolution plans and cases settled before admission by the National Company Law Tribunal (NCLT) under the Code.
Over 3,500 cases have been resolved at pre-admission stage and resulted in claims worth Rs 1.2 lakh crore get…
