Groundwater being pumped from a highland aquifer, only to be whisked away in tankers and sold in little plastic bottles by a multinational corporation it’s a difficult concept for a small farming town to swallow.

Just ask the residents of Stanley, Victoria, whose four-year court battle to stop a farmer bottling local groundwater for Japanese beverage giant Asahi ended in failure last month. They were left with a $90,000 bill for legal costs.

Locals have clashed with the bottled water industry in many parts of the world, including the United Sta…

Read the full article at: http://www.abc.net.au/news/2018-05-17/what-happens-to-small-towns-whose-water-becomes-big-business-fo/9770128

Small ways you can save

To save in small ways, Tretina ditched cable and money-eating subscriptions like Netflix and Amazon.

The money I spent on cable, I automatically applied that to my loans, she says.

She also used coupons when she went grocery shopping and cooked most of her meals at home, which allows her to add about $60 to her monthly payments.

I started doing batch cooking on the weekends, she says. So that way I would have my lunch and dinner for the week, and wouldnt have to worry about spending more money on groceries. So that freed up an extra $15 a week that I would apply to my loans.

Tretina also made extra money through side hustles like pet sitting and online surveys that paid $5 per survey.

None of them were bringing i…

Read the full article at: https://www.nbcnews.com/better/business/how-pay-your-loans-using-debt-snowflake-method-ncna874796

THOUSANDS of new homeowners have been left without vital structural defects insurance after insurance carrier Alpha goes bust.
Many homeowners who require the 10-year structural defects insurance will still be unaware that they have been left without cover.
Alpha, who supplies the insurance new homes require to protect against structural defects, was declared insolvent in Denmark last week meaning peoples cover has come to an immediate end.
Policyholders are just receiving the news that their homes are no longer insured and at this stage no plans have been announced by those who issue policies under Alpha as to how customers can be protected going forward.
David Su…

Read the full article at: https://bdaily.co.uk/articles/2018/05/16/new-build-home-insurance-policies-at-risk-after-the-collapse-of-insurance-firm-alpha

When the Insolvency (England and Wales) Rules 2016 (IR16) came into force on 6 April 2017 it was clear that significant amendments to the Practice Direction on Insolvency Proceedings were needed as it had been in force since 2014 and was based upon the Insolvency Rules 1986. A planned interim practice direction was never created, leaving in place an outdated practice direction that was inconsistent with the latest legal rules and practice for more than a year.

The IPD has been updated to reflect a number of significant developments, including the IR16 (as amended), the Recast EU Regulation on Insolvency Proceedings, the introduction of electronic filing and the Business and Property Courts and the re-designation of registrars in bank…

Read the full article at: https://www.out-law.com/en/articles/2018/may/new-practice-direction-insolvency-proceedings/

As banks and financial institutions try to resolve the bad loan cases there is huge demand for insolvency resolution professionals.

So far, chartered accountants, company secretaries and lawyers have walked away with the mandate to provide resolution professional services. Non-professionals, including graduates from non-commerce backgrounds and having management experience of 15 years, and who have qualified themselves as RPs, are looking to break a sort of glass ceiling to get the mandate.

The reason is not far to see. Under the insolvency framework, it is the Committee of Creditors (CoC) that decides on the appointment of RP. The CoC wields significant influence and in many occasions it even replaces the interim resolution profession…

Read the full article at: https://www.thehindubusinessline.com/economy/insolvency-quality-competence-drive-choice-of-the-resolution-professional/article23905645.ece

A scathing MPs report into the collapse of Carillion has revealed the stricken construction giant paid almost £4 million to an array of City firms in the days before it was declared insolvent.

According to todays report, on 12 January, three days before the company went under and one day before chairman Philip Green wrote to the government pleading for taxpayer funding to keep going, £3.9m was paid out to law and accountancy firms.

Slaughter and May was paid £1.19m while magic circle counterparts Clifford Chance and Freshfields Bruckhaus Deringer were paid £149,104 and £91,165 respectively. EY one of the big four accountancy firms was paid £2.5 million.

The advisers were accused by MPs of squeezing fee income out of what remained of…

Read the full article at: https://www.lawgazette.co.uk/law/city-firms-squeezed-fee-income-from-stricken-carillion-/5066130.article