Embattled commodity trader Noble Group Ltd. is on track to complete its mammoth restructuring deal after a Bermuda court approved an officer to carry out the plan, using a local kind of insolvency process.
In a brief court hearing Friday, the judge called the company insolvent and allowed a court-appointed officer to oversee the restructuring.
The green light from the Bermuda court will allow Noble to avoid liquidation after its preferred restructuring plan was scuppered at the last moment by an investigation from Singap…
Read the full article at: https://www.arkansasonline.com/news/2018/dec/16/noble-group-restructuring-gets-ok-20181/?business
The Department of Education (DOE), complying with a federal judges ruling,announced a massive victory for students victimized by now-closed for-profit colleges: their loans will be canceled.
Around 15,000 students will have an estimated $150 million in debt erased. The students granted forgiveness are those who were attended for-profit schools that abruptly closed, leaving them with no degree, education debt and worthless credits.
Loans forgiven include federal and Parent PLUS loans. The discharge doesnt cover private student loans or money paid out of pocket by students.
Students who attended these programs cant get their time back, but at least they will no longer be forced to repay student loans they borro…
Read the full article at: https://www.bankrate.com/loans/student-loans/for-profit-college-student-loan-forgiveness/
The new year is about to start and National Debt Relief aims to help people put together their financial resolutions for the year. The article titled “Financial Resolutions 5 You Need to Make for 2019” released December 14, 2018, gives consumers an idea on some of the best things they can aim to improve on for the incoming year.
Phoenix, AZ (PRWEB) December 16, 2018
The new year is about to start and National Debt Relief aims to help people put together their financial resolutions for the year. The article titled “Financial Resolutions 5 You Need to Make for 2019” released December 14, 2018, gives consumers an idea on some of the best things they can aim to improve on for the incoming year.
The article starts off…
Read the full article at: https://www.benzinga.com/pressreleases/18/12/p12856426/financial-resolutions-to-consider-shared-by-national-debt-relief
The Indian beer, airline and Formula One boss known as the king of good times faces bankruptcy proceedings in a London court and a separate attempt to force the sale of his sons luxury yacht.
The State Bank of India and other lenders that extended more than 1bn to Vijay Mallyas Kingfisher Airlines before it went bust in 2012 have lodged a petition to have the tycoon declared bankrupt in an effort to seize his assets.
Chairman of the company that owns Kingfisher beer and co-owned the Force India F1 team before it collapsed in July, Mallya fled to Britain two years ago, shortly before an arrest warrant was issued in India. He is on…
Read the full article at: https://www.thetimes.co.uk/edition/business/fugitive-indian-beer-tycoon-vijay-mallya-threatened-with-bankruptcy-fm5x5xztw
A Justice Department official asked a federal judge to withhold payments to McKinsey & Co. for its work advising a bankrupt Colorado coal miner, adding another voice to a chorus of criticism faulting how the firm discloses potential conflicts of interest.
In a Friday filing with the U.S. Bankruptcy Court in Houston, Acting U.S. Trustee Henry Hobbs Jr. said disclosures McKinsey filed to support its application to advise Westmoreland Coal Co. are neither transparent nor complete. Because McKinseys disclosures dont comply with the law, it shouldnt be compensated for the services it has already provided, he said.
The U.S. Trustee Program serves as the governments bankruptcy watchdog and is tasked with preserving the integrity of the system. W…
Read the full article at: https://www.wsj.com/articles/justice-department-chides-mckinsey-in-another-bankruptcy-case-11544901946
Digging your way out of debt begins with figuring out how much you owe and to whom, so you can prioritize repayments and avoid shooting yourself in the foot.
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If a penny saved is a penny earned, a penny paid back should be worth at least as much. But the way Americans are paying off balances may be making it more difficult for them to earn that pennyand their fin…
Read the full article at: https://www.wsj.com/articles/the-best-ways-to-get-out-of-debt-11544902840
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By Jean Chatzky
We vote no on the idea of money as the root of all evil. But it does turn out to cause quite a bit of trouble in relationships and when it does you can likely point a finger toward one specific financial issue: debt.
More than half of all couples go into their partnerships with debt, and 40 percent say that this financial burden ends up having a negative impact on their relationships, according to a new Couples & Money study by Fidelity. Not only do couples disagree on whose responsibility the debt is 49 percent contradict one another as to exactly whos on the hook couples who are concerned about paying down debt are also more likely to suffer from poor commun…
Read the full article at: https://www.nbcnews.com/better/business/want-marital-bliss-divorce-debt-not-each-other-ncna948131