Insolvency Guardian Media Centre
PUBLISHED: 08:30 26 October 2018
There has been a whopping 44 per cent rise in personal debt levels for people living in Knebworth, according to new figures.
The latest quarterly UK Personal Debt …
Read the full article at: http://www.thecomet.net/news/creditfix-s-personal-debt-index-records-hike-in-knebworth-1-5749110
October 26th, 2018 
Jason Jiang
Greater China, Shipyards 0 comments
A local court in Jingjiang, Zhejiang has officially declared the bankruptcy of defunct Chinese shipbuilding group JES International Holdings, the Singapore-listed platform of Jiangsu Easter Heavy Industry and seven of its affiliate companies, three years after the yard applied for a debt restructuring.
Once a major private shipyard in China, JES ceased operations in August 2015 due to a major financial crisis and chaos within the Jin family, which controls JES.
In February, JES announced that it had failed to complete a deal to sel…
Read the full article at: https://splash247.com/jes-declared-bankrupt-by-court/
College graduates with student loan debt (read: pretty much all college graduates), rejoice and pack your bags. Financial salvation awaits you in the land of lobster and, now, student debt forgiveness. Thats right: Maine will help pay off your student loans if you move to that great northeasternmost state. Excuse me while book my plane ticket.
Maines Educational Opportunity Tax Credit program is helping residents pay off their student debt through a tax credit initiative. The program was initially targeted toward students who graduated from Maine colleges and universities as an effort to keep more recent grads in-state. Over time, the employer community spoke out loud and clear that even if 100 percent of college graduates in Maine chose …
Read the full article at: https://www.bustle.com/p/maine-will-help-pay-student-debt-of-people-who-move-there-through-a-new-tax-credit-initiative-12992273
ARLINGTON, Va., Oct. 25, 2018 /PRNewswire/ — QED Group, LLC (QED)announced today it has completed a two-year corporate restructuring process ahead of schedule with the promotion of Patrick Lohmeyer to Chief Operating Officer. Based in Arlington, VA, QED works with leading government agencies, organizations and global corporationsto design and implement cutting-edge, data-driven solutions that address complex international development challenges around the world.
“Change is never easy, but our industry is evolving, and it was important that our Company prepare for the future,” said President & CEO Neelima Grover, who founded QED 20 years ago with the vision to transform lives through knowledge-based solutions. “With our restruc…
Read the full article at: https://markets.businessinsider.com/news/stocks/qed-group-llc-completes-two-year-restructuring-early-promotes-patrick-lohmeyer-to-chief-operating-officer-1027656720
Millions of Americans face crushing medical debt every day. Its the leading cause of bankruptcy in the country and nearly one in four Hoosiers currently faces the heartache and stress of medical debt now in collections.
FOX59 News been digging in to this important story for several months, meeting with families all over Central Indiana facing the burden of medical debt, and uncovering the complicated system under which medical debt can be sold to collection agencies.
The debt is often sold multiple times and for pennies on the dollar, but the balance owed can grow at 12% interest. Under that scenario the debt almost doubles in just six years, which forces some people into extreme hardship.
Thats why FOX59 News is teaming up wi…
Read the full article at: https://fox59.com/2018/10/25/suffering-from-medical-debt-help-may-be-in-your-mailbox-from-fox-59/
Dear Sir / Madam,
We would like to inform you that meeting of the 06th Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Monday, 29th October 2018 at 12.00 noon IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article25324125.ece
CHICAGO–(BUSINESS WIRE)–Roosevelt University, a leading higher education institution dedicated
to social justice and to making higher education available to all
students who qualify academically, regardless of their background, today
announced that it has completed a successful debt restructuring that
provides significant relief from debt service obligations and allows the
University to reallocate funds towards completion of its turnaround
plan. The refinancing, which closed in late September, included
refunding of $195 million of debt.
The bonds were issued by the Illinois Finance Authority and placed with
Dallas-based Preston Hollow Capital. Wells Farg…
Read the full article at: https://www.businesswire.com/news/home/20181025005036/en/Roosevelt-University-Announces-Successful-Debt-Restructuring-Preston
One of the UKs most renowned restaurateurs has urged Chancellor Philip Hammond to wake up and see how disastrous the situation is as he launched a petition calling for business rates to be reviewed.
David Moore, the owner of Michelin-star restaurant Pied Terre for 27 years, wants the UK to abolish business rates and instate a fairer US style sales tax instead.
The hospitality sector provides 2.3 million crucial jobs in the UK, but he fears that number will reduce in the next three years as hiring slows down due to Brexit.
The number of UK restaurants forced to close jumped by a fifth last year as major chains came under pressure from rising costs and competition, while nearly 1,000 restaurants were declared insolvent, comp…
Read the full article at: http://www.foodserviceequipmentjournal.com/philip-hammond-urged-to-wake-up-and-prevent-more-restaurants-from-collapsing/
Promoters of Essar Steel Ltd., the Ruia family, have offered to repay creditors of the steel firm in an attempt to withdraw it from the insolvency resolution process.
In a press statement on Thursday, the companys shareholders said they are willing to pay Rs 54,389 crore to creditors. The company said that Essar shareholders will offer upfront cash payment of Rs 47,507 crore to all creditors. This included Rs 45,559 crore to the senior secured financial creditors.
Under Section 12A of the Insolvency and Bankruptcy Code, 2016 the National Company Law Tribunal may allow withdrawal of an insolvency application by the person who filed the case but with the approval of ninety percent voting share of the committee of creditors. But such a withdr…
Read the full article at: https://www.bloombergquint.com/business/ruias-offer-to-repay-over-rs-54000-crore-to-withdraw-essar-steel-from-insolvency
In compliance of Para 16(h) of Part A of Schedule III and Regulation 30, i.e. submission of particulars of invitation of resolution plan under section 25(2)(h) of Insolvency Code in Form specified under Regulation 36A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, copy of Form G containing required particulars is enclosed that is published in Economic Times dated 25-10-2018
Pdf Link:
Jaypee Infratech Ltd – Corporate Insolvency Resolution Process (CIRP)-Invitation of Resolution Plan
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/jaypee-infratech-ltd-corporate-insolvency-resolution-process-cirp-invitation-of-resolution-plan/article25321801.ece
Sunil Kumar Ralhan (37) appeared at Birmingham Crown Court on 5 October 2018 and in addition to the court-ordered disqualification for 7 years, the company director received a 9-month prison sentence.
The court heard that Sunil Ralhan was the sole director of Travelogue Ltd from November 2014, having bought the travel agency from its former director.
However, the company was placed in liquidation in May 2015 after it failed to recover payments from travel agents based abroad who had bought tickets through Travelogue. The travel agency was later dissolved in February 2017.
Independent insolvency practitioners were appointed to take charge of liquidating the company but Sunil Ralhan had failed to keep adequate accounting records, while…
Read the full article at: https://www.gov.uk/government/news/jail-for-travel-agent-who-failed-to-explain-missing-thousands
NEW DELHI: A single court in Mumbai will hear matters pertaining to bankruptcy proceedings of 15 Videocon group companies pending in multiple courts, the National Company Law Tribunal (NCLT) ruled on Wednesday.
NCLT president, Justice MM Kumar, directed that all insolvency proceedings initiated by the State Bank of India against the Videocon group be adjudicated upon by the same bench that admitted an insolvency plea against Videocon Industries Limited, groups parent company, in June this year.
The petition for insolvency proceedings against Videocons parent was admitted by the court of Justice MK Shrawat at NCLT Mumbai this year.
The remaining matters are likely to get consolidated at the same bench. This is the first such instance sinc…
Read the full article at: https://economictimes.indiatimes.com/news/company/corporate-trends/mumbai-court-to-hear-bankruptcy-petitions-against-15-videocon-cos/articleshow/66356115.cms