Insolvency Guardian Media Centre
HAUPPAUGE, N.Y.–(BUSINESS WIRE)–Vicon Industries, Inc. (OTCQB: VCON) today announced that the company is
implementing a restructuring plan to improve the overall operating
efficiency and performance of its business. These efforts are aimed to
position the company for long term growth and profitability.
The Company is taking several steps including reducing overhead
expenses, consolidating operations, and restructuring personnel to put
the company on a path toward profitability over the next several
quarters. The Company plans to provide specific details about these
changes in its next quarterly report.
Vicons Chairman and CEO, Saagar…
Read the full article at: https://www.businesswire.com/news/home/20180713005198/en/Vicon-CEO-Announces-Restructuring-Plan
ROHNERT PARK, Calif., July 13, 2018 /PRNewswire/ — It’s a fantasy many student loan borrowers will not allow themselves the joy of entertaining: waking up one day to find that their student loan is gone, canceled, wiped away or forgotten. The extra money freed up and the peace of mind that comes with a life free of debt represent an impossible dream to some that feels so far out of touch with reality that it can only be considered delusional. Yet, according to a report by the Levy Economics Institute of Bard College, the American economy would actually benefit if all student debt was suddenly and instantly wiped away. Ameritech Financial, a document preparation company assisting federal student loan borrowers …
Read the full article at: https://www.prnewswire.com/news-releases/canceling-all-student-debt-will-help-economy-ameritech-financial-dont-hold-your-breath-300680571.html
American higher education holds great promise: Thanks to easy-to-obtain loans, students can spend years studying just about whatever they want. But theres a catchbankruptcy rules make it almost impossible to default on these loans when students get in over their heads. Given spiraling tuition costs, this leaves millions of people deep in debt for decades, if not their entire lives.
The winners from this system include colleges that rake in the tuition, and the financial institutions that collect interest for decades. Those who are able to invest in their education do so in the expectation that the training and degree will allow them to earn more in their careers.
But as the debt piles up, society as a whole is losing out. Far to…
Read the full article at: https://qz.com/1326581/us-student-loans-making-default-easier-would-help-address-spiraling-debt/
New legislation that would legalize sports betting has raised concerns about increased gambling addiction. An estimated nine million Americans are believed to suffer from the disease. (Photo by Lyu Jia/VCG)
PHOENIX Another football game hadnt gone Joe Schillers way, and the thousands of dollars of debt he had accumulated from betting was about to bury him. With his life spinning out of control, he hopped in his car with his then-pregnant wifes paycheck in h…
Read the full article at: http://arizonasports.com/story/1595006/cashing-out-legalized-sports-gambling-raises-addiction-concerns/
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) today asked the resolution professional (RP) of Jaypee Infratech to submit details on the progress of the insolvency resolution process of the debt-ridden firm.
A two-member bench of the appellate tribunal, headed by Chairman Justice S J Mukhopadhaya, has asked the RP to list out the stage of the corporate insolvency resolution process.
“RP would file a reply with details of resolution plan including the stage at which it is in currently,” said NCLAT.
It has also asked to answer whether any plan is with the RP or the committee of creditors (CoC), and whether that particular plan has been accepted or rejected.
The appellate tribunal …
Read the full article at: http://www.newindianexpress.com/business/2018/jul/13/national-company-law-appellate-tribunal-directs-jaypee-infratech-rp-to-submit-insolvency-resolution-1842728.html
NEWCASTLE motorcycling identity Graeme Boyd says market conditions are to blame for the liquidation of the business he has run under his own name for more than 20 years.
Mr Boyd, who has also been an enthusiastic promoter of moto-cross events in the Hunter over the years, said that if there was any hope of the market recovering he would have tried to keep trading. But things were getting progressively worse and he was left with no option, financially.
Liquidator Brad Morelli of insolvency specialists Jirsch Sutherland said he was appointed on Monday and shut the Maitland Road, Islington, business the next day.
He said the companys 15 employees had been laid off and they …
Read the full article at: https://www.theherald.com.au/story/5523513/graeme-boyd-motorcycles-goes-into-liquidation/?cs=12
A new, truTV game show offers contestants a chance to pay off their student loans.
Paid Off, which premiered Tuesday, July 10, is styled like Jeopardy with creator Michael Torpey functioning as the shows Alex Trebeck. In the first episode, 28-year-old Madeleine Pilon won $24,000 to pay off her student loans, which totaled $41,000.
…
Read the full article at: https://www.thestate.com/news/local/education/article214750845.html
NEW DELHI: HDFC Ltd has taken the holding company of Malvinder and Shivinder Singh to bankruptcy court to recover outstanding dues worth Rs 41.1crore.
The National Company Law Tribunal (NCLT) asked the company, RHC Holding Pvt, on June 14 to state why insolvency proceedings should not be initiated against it and decided to take up the matter on July 25.
RHC suggested the development is the result of an unfavourable ruling for the Singh brothers in a legal battle against Japanese drugmaker Daiichi Sankyo.
Unfortunately, the adverse ruling against the promoters in the Daiichi Sankyo arbitration case has compounded problems, leading to severe liquidity pressures, which has triggered unanticipated defaults with banks and lenders, an RHC s…
Read the full article at: https://economictimes.indiatimes.com/industry/banking/finance/hdfc-ltd-takes-malvinder-and-shivinder-singhs-holding-company-to-nclt-over-dues/articleshow/64969529.cms
Many families today struggle with debt. College loans, car loans, credit cards, medical bills, mortgages, and other personal loans can easily add up to a lifestyle of struggle and stress.
Total household debt in America during the first quarter of 2018 was $13.21 trillionthe 15th consecutive quarter with an increaseaccording to the Federal Reserve Bank of New York.
Allison Baggerly, a teacher, blogger, and mom of two, decided in 2012, along with her husband, to show debt the door. They paid off $111,000 in just 4 and a half years on two teachers salaries. She is now inspiring her growing online community, Inspired Budget, to do the same.
I asked Baggerly about her journey to becoming debt-free.
The Epoch Times: When did you decid…
Read the full article at: https://www.theepochtimes.com/how-one-mom-kicked-debt-to-the-curb-and-is-helping-others-do-the-same_2585302.html
NEWCASTLE motorcycling identity Graeme Boyd says the worst market the conditions his industry are to blame for the liquidation of the business he has run under his own name for more than 20 years.
Mr Boyd, who has also been an enthusiastic promoter of moto-cross events in the Hunter over the years, said that if there was any hope of the market recovering he would have tried to keep trading. But things were getting progressively worse and he was left with no option, financially.
Liquidator Brad Morelli of insolvency specialists Jirsch Sutherland said he was appointed on Monday and shut the Maitland Road, Islington, business the next day.
He said the companys 15 employees had been laid off and they would have to apply to the federal governmen…
Read the full article at: http://www.theherald.com.au/story/5523513/graeme-boyd-motorcycles-goes-into-liquidation/
Finance guru Paul Baxendale-Walker, 54, who also starred in porn movies, introduced EBTs to ex-Gers chairman Sir David Murray
THE PORN star behind Rangers controversial tax scheme has been declared bankrupt with whopping debts of £16 million.
Finance guru Paul Baxendale-Walker, 54, who introduced EBTs to ex-Gers chairman Sir David Murray, went bust at a hearing in London.
The court heard Baxendale-Walker who once appeared in sex flicks owed over £16 million to creditors.
The bankruptcy case was brought against him by former client Iain Barker, who claimed Baxendale-Walkers legal firm …
Read the full article at: https://www.thescottishsun.co.uk/news/2922130/porn-star-rangers-ebts-bankrupt/
HENNEPIN Gambling debts and “onerous” payday loans led a Standard man to murder his sister-in-law, fracture her skull, and bury her in a shallow grave, a prosecutor told the jury Wednesday in opening statements in Putnam County Court.
Clifford A. Andersen Jr., 68, is charged with two counts of first-degree murder and concealment of a homicidal death, accused of killing Deborah Dewey, 62, of Ladd. He’s being held on $1.5 million bond and faces 20 to 60 years or …
Read the full article at: http://www.tonicanews.com/2018/07/12/prosecutor-debt-drove-man-to-murder-his-sister-in-law/ad9rqvs/