Insolvency Guardian Media Centre
SUGAR LAND, Texas, Aug. 20, 2018 /PRNewswire/ — More than half of Americans who have been in credit card debt (51%) have used some form of credit card debt relief, according to a recent online survey conducted by The Harris Poll on behalf of Money Management International (MMI). Among them, the most common form of relief was balance transfer to another credit account (36%), followed by help from friends or family (30%) and debt consolidation loans (27%). Meanwhile, just 15% have employed a debt management plan (DMP) through a nonprofit credit counseling agency, like MMI.
The findings highlight a lack of awareness and widespread misunderstanding about the benefits of DMPs as an alternative to other de…
Read the full article at: https://www.prnewswire.com/news-releases/survey-most-americans-unfamiliar-with-major-advantages-of-nonprofit-credit-card-debt-relief-300699113.html
Apple today confirmed it has removed “many” illegal gambling apps, and developers distributing them, from its App Store in China.
“Gambling apps are illegal and not allowed on the App Store in China,” Apple said in a statement Monday. “We have already removed many apps and developers for trying to distribute illegal gambling apps on our App Store, and we are vigilant in our efforts to find these and stop them from being on the App Store.”
Chinese state broadcaster CCTV said 25,000 apps have been removed as of Sundaywhich would be less than two percent of the estimated 1.8 million apps on the App Store in the countrybut Apple hasn’t confirmed any numbers.
Apple began cracking down on gambling-related apps ear…
Read the full article at: https://www.macrumors.com/2018/08/19/apple-confirms-removing-gambling-apps/
SUGAR LAND, Texas, Aug. 20, 2018 /PRNewswire/ — More than half of Americans who have been in credit card debt (51%) have used some form of credit card debt relief, according to a recent online survey conducted by The Harris Poll on behalf of Money Management International (MMI). Among them, the most common form of relief was balance transfer to another credit account (36%), followed by help from friends or family (30%) and debt consolidation loans (27%). Meanwhile, just 15% have employed a debt management plan (DMP) through a nonprofit credit counseling agency, like MMI.
The findings highlight a lack of awareness and widespread misunderstanding about the benefits of DMPs as an alternative to other debt relief solutions. …
Read the full article at: https://markets.businessinsider.com/news/stocks/survey-most-americans-unfamiliar-with-major-advantages-of-nonprofit-credit-card-debt-relief-1027469736
Only weeks after his ex Katie Price was given 12 weeks to pay off her debts or be faced with being formally declared insolvent, Dwight Yorke faces the same threat of bankruptcy.
The former footballer, 46, has allegedly spiralled into debt and according to the Rolls Building court lists, he is to face the music on Monday morning.
His insolvency hearing is listed today in the same court Katies appeared in, at 10.30am under the name Dwight Eversley Yorke.
It has been alleged the former Manchester United and Aston Villa player was forced to sell his £2.25 million Cheshire mansion, after it was claimed his company assets were valued at only £2…
Read the full article at: https://metro.co.uk/2018/08/20/katie-prices-ex-dwight-yorke-follows-in-her-footsteps-as-he-faces-bankruptcy-7860154/
Neil Avery Hughes (51), from Water Orton, Birmingham, was a director of Contact Transport Limited (Contact Transport). Incorporated in February 1980, the company traded from premises in Garrets Green and provided haulage and parcel delivery services.
In 2011, Contact Transport was acquired by another company, Keelek 369 Limited, before it entered into a Company Voluntary Arrangement (CVA) in the same year to help manage its debts, which completed in July 2015.
While the company returned to profit between 2012 and 2014, Contact Transport entered into a difficult trading period and fell behind in repaying its debts to their creditors.
As a result, a winding up petition was filed against Contact Transport in March 2017 before the…
Read the full article at: https://www.gov.uk/government/news/9-year-ban-for-logistics-boss-after-submitting-1m-worth-of-false-claims
Dear Sir / Madam,
In addition to our earlier disclosure made on 02nd May 2018, 11th May 2018, 20th June 2018, 12th July 2018 and 27th July 2018, we would like to inform you that the Honble National Company Law Tribunal, Ahmedabad Bench (NCLT) in the matter IA 139 of 2018 in CP 53 of 2017, an application made by the Liberty Group PTE Ltd. (applicant), pursuant to Section 60(5) of Insolvency and Bankruptcy Code, 2016 (IBC) has adjourned the hearing of 09th August 2018 to 23rd August 2018. The copy of the said order is enclosed as Annexure A.
Further as previously intimated, the Honble NCLT has directed that the period of pendency of IA 139 of 2018 shall be exempted from computing the Corporate Insolvency Resolution Process (CIRP) period o…
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/article24735811.ece
Of the 40 largest NPA accounts sent to various National Company Law Tribunals (NCLTs) since last July, which together constitute around 40 percent of over Rs 11 trillion worth of bad loans, only seven had been resolved so far, where the banks took an average haircut of over 60 percent since some accounts such as Alok Industries were bid out for only 17 percent of the money owed to lenders.
It is against this backdrop that the government is mulling strengthening the valuation process by empowering and educating chartered accountants and company secretaries under a separate law.
The government it seems is missing the wood for the trees. It is common self-deprecating humor in Chartered Accountant (CA) circles tha…
Read the full article at: https://www.firstpost.com/business/insolvency-and-bankruptcy-code-there-are-glaring-problems-and-it-isnt-only-about-low-valuations-4997891.html
KATIE Price and Mel B are apparently teetering on the brink of bankruptcy but theyre not the only super-rich celebs who have faced financial problems.
The Sun has taken a look at some of the ones who went broke and a couple who came very close.
Toni Braxton
Was worth: $13 million
How she blew it: The Grammy winner has been declared bankrupt not once, but twice.
The first time was in 1998, in part thanks to her extravagant spending habit (I kind of lost it a little bit on houseware). In 2010 she filed again, owing up to $55 million after a heart condition forced her to cancel a series of shows in Las Vegas.
Boom or bust? Toni was able to breathe again after she settled her second bankruptcy case in 2013. And this year she released her ninth st…
Read the full article at: https://www.news.com.au/entertainment/celebrity-life/riches-to-rags-surprising-stars-who-lost-it-all/news-story/f19fc955eacca6595f0052150e54e22c
Kristen Davis believes she did everything she could to get through college without racking up mounds of student loan debt.
She got good grades in high school, earning her a generous scholarship to Oakland University.
It wasnt the full ride, but it was the second-highest scholarship that Oakland offers, Davis said.
She always had a job in college. She served as editor of the campus newspaper, which paid all of her tuition for her junior year.
Still, when she graduated from Oakland last year with a degree in journalism and a minor in communications, she had $18,000 in student loan debt.
Whats crazy is that I think mine is less than a lot of oth…
Read the full article at: https://www.theoaklandpress.com/news/local/student-debt-remains-a-heavy-burden-for-many-college-graduates/article_f41afaa8-a225-11e8-8b85-b3ac5e6f0e00.html
NewsWritten by Tom Williams on August 20, 2018
A touring company of which producer Alison Wonderland (real name Alexandra Sholler) is a major stakeholder is in the process of being liquidated, after owing over $776,000 to suppliers following Wonderlands 2017 Scarehouse Project tour.
Wonderland Touring Pty Ltd of which Wonderland is a 50 per cent stakeholder, alongside co-directors and 25 per cent stakeholders Christopher Murray and Garth Crane (who is also Wonderlands manager) entered liquidation on 20th June 2018, after being created in July 2017.
According to documents from the Australian Securities & Investments Commission (ASIC), Wonderland Touring Pty Ltd had $75 in its accounts when it entered liquidation, and owed $776,056 to credi…
Read the full article at: http://musicfeeds.com.au/news/alison-wonderland-touring-company-liquidation-owing-776000/
The main contractor of M+, the West Kowloon Cultural Districts contemporary art museum, was fired by the government-appointed management authority on Friday due to alleged insolvency.
In a press statement, the West Kowloon Cultural District Authority (WKCDA) said it has terminated its contract with Hsin Chong Construction Company Limited over the troubled project. Hsin Chong was awarded the HK$5.9 billion contract for multiple buildings in September 2015 after a selective tendering process.
The M+ building under construction. Photo: WKCDA.
The decision to terminate the contract has been forced upon the Authority due to the insolvency of [Hsin Chong] which has been caused by the severe financial troubles facing its parent company, Hs…
Read the full article at: https://www.hongkongfp.com/2018/08/20/west-kowloon-m-museum-main-contractor-fired-due-insolvency/
FILE
PHOTO: Noble Group founder and Chairman Richard Elman poses at
his office in Hong Kong
Thomson
Reuters
SINGAPORE/BENGALURU (Reuters) – Embattled commodity trader Noble
Group Ltd said on Monday that its founder, Richard Elman, will
not take up a previously announced position as an executive
director in the restructured company, citing “personal reasons”.
Once Asia’s largest commodity trader, Noble has shrunk its
business after selling billions of dollars of assets, taking
hefty writedowns and cutting hundreds of jobs. Its restructuring
plan – crucial to its survival – gained ground last month when it
won over a key shareholder with a swee…
Read the full article at: http://uk.businessinsider.com/r-noble-group-founder-declines-executive-director-role-in-restructured-firm-2018-8