Insolvency Guardian Media Centre
All Ireland-winning Galway hurler Davy Glennon and Tony O’Reilly, a former postman who gambled 1.75m he stole from An Post, have rowed in behind a Fianna Fáil bill that would outlaw advertising aimed at glamorising gambling and oblige bookmakers to become more “socially responsible”.
They met with TDs in Leinster House yesterday and told them people are suffering because of a lack of regulation in the sector.
Debt
Mr Glennon, whose mother re-mortgaged her house to pay his debt, said the addiction is all-encompassing because major betting firms do little to help.
“My outlet was gambling and it took a hold of my life to an extent went from begging, borrowing and stealing. It was very dishonest and I was a compulsive liar,” h…
Read the full article at: https://www.independent.ie/irish-news/addicts-urge-tds-to-back-laws-targeted-at-gambling-advertising-36864822.html
Constituting a 14-member panel to suggest changes to a law little more than a year after its promulgation reflected the governments keenness to correct mistakes in the original legislation, while also shining the spotlight on an impatient New Delhi that seemed unwilling to give more time.
Even as some of the recommendations rush through the system to become law, the practitioners and lenders for whom the law was made believe these changes could engender more issues than helping settle some of the conflicts.
Inconsistencies, dilution in the spirit of the law, sounding more politically right than confronting the reality and bringing in constituencies that do not figure in the bankruptcy laws of mature countries appear to be hallmarks o…
Read the full article at: https://economictimes.indiatimes.com/news/economy/policy/why-ibc-panels-new-recommendations-may-defeat-the-very-purpose-of-the-law/articleshow/63994517.cms
Suffering from Medical Debt? Find Help Here. (Photo: WEYI/WSMH)
Medical debt can be finally and emotionally draining. If youre one of the millions of Americans who cant afford to pay your medical expenses, FOX66-NBC25 has compiled the following list of resources that may be able to help.
Charities or Nonprofits That Will Help With Medical Debt:
Elga Credit Union
Elga Credit Union has financial coaches and free financial fitness seminars that can help people with a variety of debt-related questions.
Pardee Cancer Treatment Fund
The Pardee Cancer Treatment Fund is a non-profit community organization providing financial assistance to patients residing in six mid-michigan counties undergoing can…
Read the full article at: http://nbc25news.com/features/medical-debt/suffering-from-medical-debt-find-help-here
More than $600,000 is owed to suppliers and tradies caught up in the liquidation of rich-list renovator Sasha deBrettons Million Dollar Makeovers.
Early numbers from liquidators Hall Chadwick filed with the corporate regulator list more than 70 unsecured creditors believed to be owed a total of $619,700. It includes $61,555 owed to the Australian Taxation Office.
DeBrettons statement of assets and liabilities puts Million Dollar Makeovers total assets at just over $3 million for an estimated surplus of $81,000 before the costs of the liquidation.
Ms deBretton Perths self-styled queen of rich-list renovations placed her group of companies into liquidation earlier last month.
Her Million Dollar Makeovers business offered gold, platinum or di…
Read the full article at: https://thewest.com.au/business/70-suppliers-and-tradies-owed-620000-in-million-dollar-makeovers-liquidation-ng-b88822231z
SAN FRANCISCO–(BUSINESS WIRE)–Capital IP Investment Partners (Capital IP) announced today that it
has completed a structured debt investment in GuideSpark, Inc.
(GuideSpark), the leader in employee communication. The financing will
be used to advance GuideSparks continued growth as the SaaS company
scales its market-leading Communicate Cloud software. GuideSpark is
headquartered in Redwood City, California.
This investment helps GuideSpark sustain our momentum and scale our
employee communication solutions to meet the growing need of enterprise
customers looking to better connect and communicate with their
employees, GuideSpark CEO Keith Kitani…
Read the full article at: https://www.businesswire.com/news/home/20180430006313/en/Capital-IP-Completes-Structured-Debt-Investment-GuideSpark
Following the release of the Q1 2018 Insolvency Service insolvency statistics today, Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, calls for stricter rules when promoting insolvency services online:
The figures released by the Insolvency Service today, showing an increase in both company and personal insolvencies, support our expectation that the number of individual voluntary arrangements (IVAs) and Trust Deeds will grow by around 17% in 2018. Our latest research reveals a similar trend; with the number of cases continuing to rise. March saw a record volume of IVAs and Trust Deeds issued (around 6,500), up by 20% on the same period last year.
One of the main drivers of this growth, along with incre…
Read the full article at: https://globalbankingandfinance.com/stricter-regulation-needed-as-personal-insolvencies-set-to-rise-by-17-in-2018/
The Resolution Professional (RP) of Adhunik Metaliks Ltd sought exclusion of 20 days from the mandatory 270-day timeframe required to complete the insolvency resolution process.
The 270-day deadline granted to the bankrupt company under the corporate insolvency resolution process (CIRP) expired on April 29.
While no resolution plan was approved by the Committee of Creditors (CoC) during this period, the Resolution Professional on Tuesday submitted a progress report and sought a 20-day extension of the timeframe.
A similar appeal was made by the workers union of Adhunik Metaliks.
We will see if such an exclusion can be provided or not, the division bench of Justice Jinan KR and Justice Madan B Gosavi said.
Under the Insolvency and Bankruptcy…
Read the full article at: https://www.thehindubusinessline.com/news/adhunik-metaliks-seeks-seeks-20-day-extension-to-complete-insolvency-process/article23740439.ece
State PPBM information chief Yaakob Osman says he was shocked when he was denied candidacy in Penaga.
Penang PPBM information chief Yaakob Osman apologises to PH supporters in Penaga for his carelessness.
BUTTERWORTH: A PPBM leader said he cried for two days straight after being told he was a bankrupt when filing his candidacy for a state seat in Penang last Saturday.
Penang PPBM information chief Yaakob Osman said he never knew he was a bankrupt until that fateful day.
At a meet-the-people session at Paya Keladi in Kepala Batas here, he said his lawyers, who did a thorough search, revealed that he was declared a bankrupt over credit card arrears incurred 20 years ago.
He said the bankruptcy notice was sent to the address on the …
Read the full article at: http://www.freemalaysiatoday.com/category/nation/2018/05/02/i-cried-for-2-days-straight-says-ppbm-hopeful-declared-a-bankrupt/
Wisr Limited(ASX:WZR), formerly known as DirectMoney, grew its origination of personal loans by 42% in the March quarter compared with the previous December quarter.
The 42% quarter-on-quarter growth follows 79% growth in the December quarter and 20% growth in the September quarter.
Notably, since the business restructure in 2016, the gross annualised loss rate for the loan book through to the end of the March quarter has been below 2%.
Restructure has provided a new foundation for the company to grow from
Wisrs CEO Anthony Nantes said: These increases over the most recent quarter, reflects the new brand positioning, updated strategy and ongoing improvements to Wisrs loan assessment, underwri…
Read the full article at: http://www.proactiveinvestors.com.au/companies/news/196194/wisr-grows-personal-loan-originations-by-42-in-march-quarter-196194.html
ST. LOUIS (KMOV.com) — As News 4 continues to hear from viewers dealing with medical debt, we are also hearing from people around St. Louis who want to help with this growing issue.
At his West St. Louis County law firm, Quinn Estate and Elder Law, Brian Quinn helps seniors plan for retirement, and he sees many people facing the same problem.
Medical debt is definitely a reality, says Quinn.
Craig Antico, founder of the non-profit RIP Medical Debt, sees the problem nationwide. His company tries to help with the problem, by buying and forgiving millions of dollars worth of medical debt from debt collectors. Working with a donation of $12,500 from KMOV, Antico purchased more than $1 million worth of medical debt for 512 people around the S…
Read the full article at: http://www.kmov.com/story/38088605/how-you-can-help-st-louisans-pay-off-medical-debt
Coimbatore: Though there is no change in the position that moratorium on sale will apply not only to the assets of the Corporate Debtor but also to the assets of the guarantors, the National Company Law Appellate Tribunal (NCLAT) has made it clear that the moratorium does not restrict the filing of application for initiating insolvency resolution process against guarantors under IBC (Insolvency and Bankruptcy Code).
Incidentally, provisions for starting bankruptcy proceedings against individuals have not yet been notified under IBC.
However, it is made clear that order of Moratorium will be applicable only to the proceedings against the Corporate Debtor and the Personal Guarantor, if pending before any court of law/tribunal or authority b…
Read the full article at: https://timesofindia.indiatimes.com/business/india-business/moratorium-no-restriction-for-insolvency-proceedings-against-guarantors-nclat/articleshow/63978276.cms
The National Company Law Appellate Tribunal (NCLAT) today ordered the lenders of Electrosteel Steels to submit evaluation criteria and comparative charts showing the score matrix done by it of the top three bidders in insolvency resolution proceedings.
In addition, the tribunal has asked the resolution professional and the committee of creditors to submit statements of offers made by the top three bidders for the beleaguered Electrosteel Steel.
It stated that the matter would be heard on May 17 and ordered the parties to maintain status quo on the resolution plan submitted by Vedanta. This follows Renaissance Steels appeal in the tribunal that questions, under the Section 2…
Read the full article at: http://www.business-standard.com/article/companies/insolvency-proceedings-tribunal-seeks-electrosteel-steels-bid-details-118050101131_1.html