Insolvency Guardian Media Centre
A nonprofit helps people in need by purchasing bundles of past-due medical bills and forgiving them.
If youre looking for a special Christmas gift to mark this holiday season, you could follow in the footsteps of two women in upstate New York, a man who lost his wife to cancer, and a well-known television host.
All of them donated money to RIP Medical Debt, a nonprofit that helps people in need by purchasing bundles of past-due medical bills and forgiving them.
RIP Medical Debt is one of multiple organizations across the country hoping to help people with crushing medical costs. Other organizations allow people to make charitable donations so patients can afford exp…
Read the full article at: https://www.healthline.com/health-news/looking-for-a-gift-that-helps-buy-and-forgive-medical-debt
close up man hand press on calculator counting calculating about monthly expense from debt bill at the table in home office and managing payroll,money risk financial conceptGetty
Theres one thing uniting many employees today: student debt. With the average graduate taking on $37,172 in student loan debt more than some graduates make in one year of work that figure stays front and center while they make financial decisions.
That means that while money isnt everything when it comes to work, it takes on outsized importance. An inability to pay back student loans can result in losing the hard-won professional license that college made possible; the National Consumer Law Center notes many states tie licensing to st…
Read the full article at: https://www.forbes.com/sites/jaimecatmull/2018/12/18/how-businesses-are-helping-their-employees-ditch-student-loan-debt/
GROWER-BASED conservation farming association, Conservation Farmers Inc (CFI), is to be wound up.
The organisation, which has driven the adoption of no-till farming practices for more than three decades in the northern farming regions of Queensland and northern New South Wales, has been put into voluntary liquidation following a claim by a former director for substantial expenses that is now in the hands of the courts.
CFI chair, Darryl Bartelen, said the magnitude of the claim was untenable for a not-for-profit company.
Mr Bartelen said the CFI was unable to confront the financial enormity of the legal proceedings, leaving the Board with no other choice than to seek the closure of the …
Read the full article at: https://www.graincentral.com/news/conservation-ag-group-forced-into-liquidation/
Dear Sir / Madam,
We would like to inform you that Meeting of the Resolution Professional is scheduled to be held on Wednesday, 19th December 2018 at 02.30 P.M. IST at C-25, Laxmi Towers, A – 601, 6th Floor, Bandra Kurla Complex, Bandra (East), Mumbai 400051, INDIA to consider and approve audited financial results for the financial year 31st March 2018 of Sterling Biotech Limited.
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-updates-corporate-insolvency-resolution-process-cirp/article25774674.ece
Disappointment
Chairman Philip OLeary expressed disappointment, however, that the numbers opting for mediation have fallen in Dublin, with 318 first joint information sessions in 2017 compared with 348 in 2016 and 407 in 2015.
The board wants a higher take-up of mediation in applications for guardianship, custody or access in the Dublin area, and it is planning to hone its strategy in this area.
Of the boards 17,103 new applications for civil legal aid or international protection in 2017 (which represented a 3% increase), 68% involved family disputes.
The numbers waiting for legal services dropped for the fifth successive year, to 1,776 at year-end, from a high of over 5,000 in 2013.
Protection
A total of 25,049 aid applications were s…
Read the full article at: https://www.lawsociety.ie/gazette/legal-analysis/mediation-numbers-fall-in-dublin-family-law-cases/
Katie Price commanded a fortune of 45m during her heyday as one of the most powerful media figures in the UK.
After starting out as a glamour model, she starred in her own reality TV shows, won Celebrity Big Brother and even dabbled in pop music. Price, previously known by the pseudonym Jordan, has also put her name to lingerie, jewellery, perfume, baby clothes and multiple books, including a string of autobiographies.
But this year the mother-of-five has only narrowly avoided bankruptcy, has checked herself into rehab and, it emerged today, has been charged for drink driving.
On 4 December, HMRC agreed to accept her plans to repay her creditors 22,000 as part of an Individual Voluntary Agreement (IVA), which allows people to re…
Read the full article at: https://www.theweek.co.uk/95638/how-did-katie-price-lose-all-her-money
Ching Yau Yu and Vincent Wai Kit Yu were directors of Kai Hing Limited. The company was incorporated in January 2011 and traded under Yu and You Restaurant and Bar, a Chinese eatery in the Copster Green area of Blackburn.
The restaurant featured in the TV programme, Ramsays Best Restaurant, in 2013.
However, Kai Hing Limited entered into difficult trading conditions and because the company couldnt pay its debts, Vincent and Ching Yu liquidated the company in January 2017, owing their creditors close to 385,000.
Independent insolvency practitioners were appointed to wind-up the business and reported to the Insolvency Service that the company had a substantial amount of tax discrepancies.
This triggered an investigation by the Insolve…
Read the full article at: https://www.gov.uk/government/news/mother-and-son-restaurateurs-banned-for-under-declaring-tax
The Insolvency and Bankruptcy Code, 2016 has seen its share of twists and turns. One more twist may be lying in wait; operational creditors seeking a voice alongside financial creditors in the insolvency process.
A financial creditor is one who has lent money to the company, and an operational creditor is a vendor who has supplied goods or services and is owed money by the company.
In the insolvency food chain, secured financial creditors rule the roost at the all-powerful committee of creditors (CoC). This is logical, no doubt. Banks should have a first claim to the proceeds of resolution when a borrower has defaulted on their loans. That is key for them to recover bad loans.
But other creditors are also victims. The hie…
Read the full article at: https://www.moneycontrol.com/news/business/quick-take-operational-creditors-seeking-a-seat-at-the-ibc-high-table-could-muddy-insolvency-waters-3304451.html
DOORSTEP loan firms will have to make the cost of rolling over borrowing clearer to customers, under new rules unveiled by City watchdog today in a victory for The Sun.
Firms have also been warned about contacting potential customers who have not applied for loans.
Getty – Contributor
Although, the Financial Conduct Authority has ruled out imposing a cap on the cost of borrowing for doortep loan sector.
The new rules come into force from tomorrow but firms have three months to make sure they are fully compliant with them.
The FCA has also announced store and catalogue firms will also have overhaul the way they advertise buy now, pay later offers….
Read the full article at: https://www.thesun.co.uk/money/8004340/doorstep-loan-crackdown-store-cards/
- Once-hyped augmented reality startup Blippar has laid off all of its employees after it collapsed into administration.
- The company said it would wind down its augmented reality services after being unable to raise the necessary funding to stay alive.
- The decision leaves loyal Blippar employees in a tough position before Christmas and may affect their pay.
Blippar, the once-hyped British augmented reality startup, has laid off all of its employees after falling into administration.
The administration process in the UK is similar to a company filing for Chapter 11 bankruptcy in the US.
Corporate insolvency firm David Rubin & Partners announced on Monday that had been appointed as Blippars admi…
Read the full article at: https://www.businessinsider.com.au/blippar-fired-all-its-employees-after-collapsing-into-administration-2018-12
Dear Sir / Madam,
We would like to inform you that 19th meeting of Committee of Creditors of ABG Shipyard Limited was held on Monday, 17th December 2018 at 02:30 P.M. IST at BDO India LLP, Level 9, The Ruby, North West Wing, Senapati Bapat Road, Dadar (W), Mumbai 400028, 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/abg-shipyard-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article25770759.ece
SINGAPORE — Commoditiestrader Noble Group is set to start implementinga long-awaited $3.5 billion debt-for-equity rescue restructuring on Wednesday, in a move that enables the scandal-hit company to avoid liquidation.
The Hong Kong-based and Singapore-listed company has been forced to resort to a form ofbankruptcy protection to carry out the plan, after the Singapore Exchange and other authorities earlier this month said they would not allow the new company to relist its shares.
Instead, Noble last week chose an alternative — a debt-for-equity swap under a court-appointed officer and no relisting. This plan was pre-approved by creditors and has now been accepted by a court in Bermuda, where the company is incorporated.
“The company and th…
Read the full article at: https://asia.nikkei.com/Business/Noble-set-to-implement-rescue-debt-restructuring-plan