News - Insolvency Guardian

Aside from mortgages, unsecured debt in the latter half of 2018 saw a rise of 886 per household on the previous year, with total debt adding up to an astonishing 428billion, compared to 286billion in 2008.

These figures put together several factors including personal loans, overdrafts, store and credit card debts and student loans.

Yes, the TUC is hoping to leverage these figures to discomfit the Tories on the platforms of austerity and wage stagnation.

Equally, and despite being applauded for its high employment figures, the Government should answer for relying on the insecurity caused by the gig economy, shift work and zero-hours contracts. As we move into Brexit year, we must reconsider the minimum wage and help to make work pay for the …

Dear Sir,
Sub: Outcome of 3rd CoC Meeting of M/ 5. Southern Online Bio Technologies Limited scheduled
on 8th January, 2019.
With reference to the subject cited above, I would like to inform you that the following matters
are the outcome of the 3rd Committee of Creditors Meeting of M/ 5. Southern Online Bio
Technologies Limited held on 8th January, 2019.
1. Discussed on the 2nd CoC meeting minutes and approved by the members of the CoC
2. Discussed on status of claims received
3. Discussed on the Expression of Interests received by the RP, discussed on the evaluation
matrix parameters and confirmed the changes, RP need to incorporate the changes in the
evaluation matrix and draft should be sent to the members of the CoC for their confirmation
and a…

In the unfortunate event of the company being liquidated, creditors of the company have no claim on the retirement funds collected on behalf of employees. Retirement funds belong to the employees and will be safely looked after by the fund administrator.

NEW YORK, Jan. 07, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Allegations: YRC Worldwide Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose tha…

Bankrupt All American Oil & Gas Inc. of San Antonio is working on a deal to sell its assets to its largest creditor.

The proposed transaction calls for creditor Kern Cal Oil 7 to bid the amount its owed by AAOG for the San Antonio companys assets. Such an offer is known as a credit bid. In October, KCO acquired $142 million in loans made to AAOG.

The bankruptcy had been shaping up to be a hotly contested affair until AAOG and KCO recently agreed to mediate their claims.

We would like to inform you that meeting of the 09th Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Monday, 14th January 2019 at 11.00 A.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.

The directive said that the operation of restructured SOEs improved considerably and contributed to stabilising the macroeconomy, citing that 147 were privatised in the period from 2016 to November 2018 and nearly VN155 trillion (US$6.74 billion) in State capital collected from divestments out of none-core businesses in the period.

However, the directive pointed out that the results of privatisation and divestment of SOEs were still below targets and the operation efficiency of SOEs was modest compared to the resources in their hands.

According to the directive, privatisation and capital divestment faced difficulties in evaluating corporate value. Especially, the lack of accountability, loose discipline, group in…

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that 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.

OnDecember 6, 2018, Hindenburg Research published a report describing the Company as a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets. On this news, shares of Yangtze River fell $1.71, or 17%, to close at $8.28 on December 7, 2018, thereby injuring investors.

COLUMBUS Ohio Attorney General Mike DeWine today announced a multistate settlement with Career Education Corporation, a for-profit college provider that operated several schools, including Sanford-Brown, Le Cordon Bleu, and International Academy of Design & Technology.

As part of the agreement, the company is expected to forgo collecting nearly $493.7 million in debts owed by former students, including an estimated $12.2 million for about 4,800 Ohioans.

This settlement will provide debt relief for thousands of former students, and it will require Career Education Corporation to take specific steps to help prospective students make informed decisions about their education, Attorney General DeWine said.

The settlement, which include…

Read the full article at: https://www.xeniagazette.com/news/38288/ag-announces-12-million-in-debt-relief-in-multi-state-settlement

The full roll out of Universal Credit, the governments plan to collapse six welfare benefits into one, was delayed in early January. This followed mounting concerns by MPs and months of trenchant criticism of its design, including from the UNs special rapporteur on extreme poverty and human rights.

These criticisms are warranted and important. Yet the concept of Universal Credit, and its approach to debt, reveals something wider about the UKs current political moment.

Taken at face value, Universal Credit has a seemingly innocent meaning. Credit simply means a payment made to your account. Universal means that it replaces previously separate benefits payments with a singular one that should fit all requirements. On this official …

Read the full article at: http://theconversation.com/how-universal-credit-perpetuates-the-false-equation-between-public-and-private-debt-105686

Insolvency Guardian Media Centre