Debt consolidation is the conversion of high-rate debt into lower-rate debt in order to reduce total interest costs. Homeowners with large amounts of credit card debt who have unused borrowing power on their home have a consolidation option.

Whether or not it is in the homeowners long-run interest to exercise the option, however, turns out to be a challenging question, the answer to which depends on the specifics of the individual case. That makes it a calculator problem, where the challenge becomes finding the right calculator. This article will help with that.

Consolidation options of a homeowner with two mortgages

Homeowners who have both…

Read the full article at: https://www.postbulletin.com/news/business/the-mortgage-professor-debt-consolidation-during-a-period-of-rising/article_84efd593-98dd-5135-9b30-8ff6addd85df.html

Background

The UKs place as a leading centre for corporate restructuring is under threat. Singapore and the EU are becoming increasingly competitive. Although the UK is ranked 7^th in the world by the World Bank for ease of doing business, it is 14^th for resolving insolvency, behind Puerto Rico, Slovenia, Belgium, Canada, and Iceland.

Another driver for change is the perception of injustice arising from some recent high profile corporate failures, such as Monarch, BHS, and Carillion. The governments view is that, not only do we need some new insolvency and pre-insolvency tools, but more legislation is needed to improve corporate governance.

The proposals …

Read the full article at: https://www.accountancyage.com/insolvency-and-corporate-governance/

BOSTON – Federal authorities said a $40,000 gambling debt led a Boston man to help kidnap a Quincy victim, beat him, and extort him for cash.

Kim Nguyen, 25, pleaded guilty Wednesday to federal charges of kidnapping, conspiracy to collect extensions of credit by extortionate means, and operating an illegal gambling business. Nguyen is scheduled to be sentenced Jan. 10, 2019.

Nguyen was arrested and indicted in August of last year along with three other Boston men. Vinh Huynh, 35, and Quang Le, 27, were indicted with the same charges while Ban Tran, 26, was charged only with operating an illegal gambling business.

Authorities said that Nguyen and Le armed with knives kidnapped the victim from his Quincy home and drove him aroun…

Read the full article at: http://www.patriotledger.com/news/20181018/boston-man-pleads-guilty-to-quincy-kidnapping

Shilpi Cable Technologies Limited informed the exchanges that the resolution plan submitted by the resolution applicant was put up for the approval of the committee of creditors (CoC) in the Fifteenth CoC Meeting of Shilpi Cable Technologies Limited, in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder. On account of less than 66% of the votes being cast in favour, the aforementioned approval of the CoC could not be obtained.

Further, the CoC voted on a resolution for authorising the resolution professional to file an application for liquidation of the Company before the Honble NCLT, New Delhi (Principal Bench) in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules…

Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/shilpi-cable-technologies-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article25257878.ece

Max Brenner has been saved at the last minute by Australian investment office Tozer & Co.

The dessert chains future was thrown into question earlier this month when it entered voluntary administration. It was then announced that 20 of the brands 37 Australian stores would be closed.

However, appointed liquidators BDO Australiaissued a statement on 17 October revealing the sale o…

Read the full article at: https://www.hospitalitymagazine.com.au/deal-struck-to-save-max-brenner/

While a corporate entity may have creditors, debtors and assets in various countries, the Insolvency and Bankruptcy Code, 2016 (IBC), in its current avatar has no comprehensive legal framework on cross-border insolvency (CBI). The Ministry of Corporate Affairs on 20 June 2018 issued a public notice inviting comments on a draft chapter on CBI, which is primarily based on the United Nations Commission on International Trade Law Model Law on Cross-Border Insolvency, 1997.

Currently, sections 234 and 235 of the IBC empower: (i) the government to make bilateral agreements with other countries for enforcing the IBC; and (ii) the National Company Law Tribunal (NCLT) to is…

Read the full article at: https://www.vantageasia.com/new-framework-proposed-cross-border-insolvency/

Casa de Insolventa Transilvania, one of the biggest insolvency management firms in Romania, will open its first office outside the country in Cyprus, an emerging market where the insolvency practitioner profession only started to be officially recognized 2 years ago.

The European insolvency market needs a complex multidisciplinary approach and the integrated product that the CITR offers. The decision to open a CITR office in Cyprus is a natural step in the companys evolution, given the strong leadership position on the national market and the first step towards what CITR will mean over the next ten years. We are ready to expand to new European countries in need of our expertise and we are already analyzing two new markets to explore, …

Read the full article at: http://business-review.eu/news/citr-opens-in-cyprus-its-first-office-outside-the-country-188111

COLORADO SPRINGS Walking across the stage, receiving a diploma and finishing college for many, its supposed to signify the end of years of education and the beginning of a professional life.

Theres just one problem: student loan debt.

We have a big problem. Student loan debt is now about $1.5 trillion in the United States. Forty-four million Americans are borrowers of a student loan with an average student loan debt of about $40,000, said U.S. Sen. Cory Gardner (R- Colorado).

Gardner, who visited the News 5 studios Wednesday, is trying to curb rising higher education costs with the Student Loan Repayment Acceleration Act.

The bill would let employers help employees pay off their debt.

For a person whos just out of…

Read the full article at: https://koaa.com/news/2018/10/17/gardner-bill-would-let-employers-help-pay-student-loan-debt/

The future of chocolate cafe Max Brenner was looking very unclear just 24 hours ago after the company collapsed into liquidation on Wednesday.

Its now been reported that brothers David and Craig Tozer from Tozer & Co last night struck a deal to gain the companys licence.

“In conjunction with the franchisor, we are excited by the prospect of investing, growing and developing a highly successful business,” David Tozer told The Sydney Morning Herald .

“The brand has a rich history across the world and also within Australia.”

The deal will be finalised over the coming months, meanwhile the remaining stores across the country will be running business as usual.

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