Insolvency Guardian Media Centre
In October 2017, the Federal Trade Commission (FTC) and several states launchedOperation Game of Loansto help fight deceptive student loan debt relief scams. Stemming from this program, the FTC settled with Student Debt Doctor (SDD) and American Student Loan Consolidators (ASLC), two Florida-based student loan debt relief companies, over collecting illegal upfront fees and falsely promising to help consumers enroll in government programs to reduce or forgive their student loan debt.
SDD entered into a stipulated judgment with the FTC on November 30, 2018. The stipulated judgment bans SDD from offering debt relief products, prohibits SDD from making misrepresentations related to financial products and services, and prohibits SDD from enga…
Read the full article at: http://www.insidearm.com/news/00044566-ftc-settles-two-student-loan-debt-relief-/
General Electric Companys (GE – Free Report) board of directors recently approved a quarterly cash dividend of 1 cent per share. The dividend rate is nearly 91.7% lower than the previous rate of 12 cents per share.
The company stated that the new dividend will be paid on Jan 25, 2019, to shareholders of record on Dec 20, 2018. General Electrics ex-dividend date payment date is Dec 19, 2018.
Concurrent with the third-quarter earnings release (on Oct 30, 2018), General Electric had communicated about its intention to trim the quarterly dividend rate to a penny, in sync with its ongoing business portfolio-restructuring program.
Prior to this, on Nov 13, 2017, General Electric had slashed its quarterly dividend payout by…
Read the full article at: https://www.zacks.com/stock/news/342169/ge-slashes-dividend-rate-remains-focused-on-restructuring
In a move that could potentially enable in finding a suitor under the corporate insolvency resolution process (CIRP), the National Company Law Tribunal-Hyderabad has extended the deadline to evaluate some plans.
The Hyderabad-based hospitality chain Viceroy Hotels Limited may perhaps find a suitor, with the NCLT extending the deadline for resolving the case.
The Judicial Member Ratakonda Murali, while allowing a petition to permit extension of period by exuding 45 days for counting the CIRP process, allowed Resolution Professional (RP) and the Committee of Creditors additional time.
The time period was extended to enable the Resolution Professional and CoC to review the Resolutions Plans which have been already filed.
The NCLT felt that sin…
Read the full article at: https://www.thehindubusinessline.com/companies/nclt-extends-deadline-for-viceroy-hotels-insolvency-resolution-process/article25711654.ece
Mark William Taylor, 51, and Kelie Taylor, 34, of Ellesmere Port, appeared at Liverpool Crown Court on 10 December 2018 following a joint investigation between Merseyside Police and the Insolvency Services Criminal Enforcement Team.
The case centred on the activities of Global Media Corporation Ltd and Paramount Media Company between 2009 and 2014. The two Wirral-based companies were operated by Mark Taylor, despite being previously disqualified from being a company director.
Following a large number of complaints to Action Fraud in relation to the two companies, investigators found that sales representatives would cold-call companies offering advertising space in various magazines which reportedly supported the emergency services.
T…
Read the full article at: https://www.gov.uk/government/news/husband-and-wife-sentenced-for-large-scale-publishing-fraud
- Augmented reality firm Blippar, one of the UKs best-funded startups, is close to collapse.
- According to The Sunday Times, its chairman has written to shareholders warning of a dispute between two investors.
- Malaysian sovereign wealth fund Khazanah has reportedly blocked property tycoon Nick Candy from injecting further funding into Blippar.
- There have been months of red flags, with Blippar trying to sell itself earlier this year, internal dissatisfaction, and public accounts showing losses.
- Now, insolvency firm David Rubin and Partners has been lined up as administrators.
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Blippar could live another day if Candy, already a major shareholder, can inject further cash into t…
Read the full article at: https://www.businessinsider.com.au/blippar-collapse-administration-attempts-to-sell-the-firm-snap-2018-12
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Shopping for a college graduate this holiday season? A new survey suggests helping with their student loan debt. [The Oklahoman archives] Gift-giving for that person on your list who graduated from college with student loan debt could be as easy as helping make a payment. Odds are it would be much appreciated.
A new survey of 1,000 people by LendEDU shows most would prefer the giver skip the present and make a student loan payment of equal value, even for modest gifts like a…When you subscribe for $0.99, you get full digital access to: 1) Unlock ALL exclusive articles from The Oklahoman. 2) Custom…
Read the full article at: https://newsok.com/article/5617289/gift-idea-for-the-college-graduate-help-pay-off-student-loan-debt
The matter, which involved Jaypees Noida-based township project, was brought before a bench headed by Justice Madan B. Lokur who said that it would come up for hearing before an appropriate bench.
New Delhi: Chitra Sharma, a homebuyer, moved the Supreme Court on Monday against an order of the registrar declining to entertain an application for modification of an August order that had remanded the insolvency case against Jaypee Infratech Ltd (JIL) to the company tribunal to be started afresh.
The matter, which involved Jaypees Noida-based township project, was brought before a bench headed by Justice Madan B. Lokur who said that it would come up for hearing before an appropriate bench.
On 9 August, a bench headed by former chief justice Dip…
Read the full article at: https://www.livemint.com/Companies/QtJ3FPnUuluUUuPlPjYatJ/Plea-in-SC-seeks-modification-of-order-remanding-Jaypee-inso.html
Sub: Extension of Corporate Insolvency Resolution Process (`CIRP) for further period of 45 days.
Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 – Reg.
With reference to the above cited subject, I would like to inform that the Honorable National Company Law Tribunal, Hyderabad Bench (NCLT) vide its Order dated 06/12/2018 has granted an extension of CIRP for a further period of 45 days beyond the period of the 270 days from 07/12/2018 to 20/01/2019.
Kindly take the same on your records and oblige.Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/viceroy-hotels-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article25710606.ece
Daily News
10 December 2018
Jobbird, a Dutch job board, declared bankruptcy last week with the groups founder seemingly failing to inform its employees.
According to Sprout.nl, Jobbird founder Jan-Peter Cruiming filed for bankruptcy behind the scenes and did not notify employees.
Staff at Jobbird were given notice of dismissal last week by an unexpected visit from a curator who told them of the companys bankruptcy.
Matthijs Jorissen, Chief Marketing Officer and Chief Technology Officer of Jobbird, stated that he has received two weeks from the bankruptcy trustee in which to make arrangements with an investor or a strategic buyer. Staff at Jobbird will continue to work duri…
Read the full article at: http://www2.staffingindustry.com/eng/Editorial/Daily-News/Netherlands-Dutch-jobs-board-Jobbird-goes-bankrupt-founder-fails-to-notify-employees-48344
Martin Lewis, 46, appeared on This Morning today to try and help people struggling to cope with debt.
He explained how new data shows over 100,000 people in debt attempt suicide each year in England.
A campaign just launched by the Money and Mental Health Policy Institute charity, founded and chaired by Martin Lewis, is asking for the law to be changed to stop what they call the debt threats letters from lenders, which are leaving many people in debt feeling there is no way out of their situation.
Martin said on the ITV show: Ive been saying for years that money and mental health are a marriage made in hell. The links are hideous.
You are up to four times more likely to be in debt crisis if you have a mental health problem than average, and …
Read the full article at: https://www.express.co.uk/life-style/life/1056756/martin-lewis-money-saving-expert-this-morning-debt-problems-management
Have you ever been to see a counsellor? Are you familiar with how they operate?
Practicing clinical psychology takes years of tertiary study. Counsellors, while not psychologists, also undergo formal training.
So why is there a need for all this study?
The answer is simple. When you sit down in front of a therapist, a very serious exchange occurs youre trusting that person with your mental health and well-being.
Financial counsellors are part of this group of health practitioners. Their job is particularly challenging because they need to use both their financial expertise, and counselling skills.
Right now, there arent enough counsellors in Australia, and its causing great harm leading some, as I understand, to suicide.
The problem
Australia …
Read the full article at: https://au.finance.yahoo.com/news/debt-distress-really-costs-231134861.html
Adelaide
Adelaide City Council will vo…
Read the full article at: https://indaily.com.au/news/local/2018/12/10/city-council-pushes-for-20-year-debt-repayment-extension/
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