Two north Shropshire churches are offering free help to hundreds of local people after partnering with an award-winning national debt counselling charity.

Cabin Lane Church in Oswestry and The Cellar Church in Ellesmere have joined forces with Christians Against Poverty (CAP) and aims to help a number of people this year, by offering home visits for people affected by debt.

David Lee, the CAP Debt Centre manager, said: “Typically, debts can build up when a relationship breaks down, someone loses their job, or through bereavement so often when people are least able to cope with a financial headache.

“That’s why we’re so excited to open a debt care because between us, there is a hug…

Read the full article at: http://www.bordercountiesadvertizer.co.uk/news/15993962.Hundreds_to_benefit_from_free_local_church_debt_help/

Wiping away student loans in bankruptcy is nearly impossible, so goes the conventional wisdom. But officials and lawyers in at least one state are trying to change that.

The Massachusetts Bar Association recently launched the Student Loan Bankruptcy Assistance Project. It aims to get more attorneys, even those who dont specialize in bankruptcy or student…

Read the full article at: https://www.marketwatch.com/story/inside-one-states-effort-to-help-borrowers-erase-their-student-debt-in-bankruptcy-2018-02-14

SIXTY residents and business across the Mackay region went bankrupt between September and December 2017.

The Australian Financial Security Authority (AFSA) yesterday released quarterly regional personal insolvency statistics and analysis for Queensland regions in the December quarter 2017.

The data revealed 53 Mackay residents declared non-business related insolvencies down from 60 in the September quarter. Across Queensland, there were 1,141 debtors who entered a new personal insolvency – 12.4% down from the September quarter.

Business related insolvencies declined dramatically in Mackay, with just seven recorded compared to 16 in the previous quarter.

The results paint the Mackay economy in stark comparison to that of city neighbours …

Read the full article at: https://www.cqnews.com.au/news/revealed-53-mackay-residents-7-businesses-go-bankr/3335381/

In 2017, the number of Romanian companies with a major impact on the economy went into insolvency decreased by around 7 percent from the previous year. However, the value of privately owned major impact companies that were in insolvency was EUR 1.22 billion at the end of 2017, a 15 percent increase compared to the end of 2016.  

Major impact companies are those companies with assets of over EUR 1 million, which generate around 70 percent of the turnover at the national level, and are the engine of the domestic economy, according to studies by CITR group.

At the same time, the total number of Romanian companies which entered an insolvency procedure grew in 2017 by around 9 percent from the previous year (from 8371 to 9102).

In this…

Read the full article at: http://www.business-review.eu/news/citr-fewer-major-impact-insolvencies-in-2017-but-of-higher-total-value-158006

A NEW support service for vulnerable young people in West Oxfordshire is now under way with hopes it will grow in size as time goes on.

Witney-based social enterprise Synolos has launched its new initiative for children in the district in an effort to pick up the pieces left by youth charity Base 33, which declared itself insolvent last year.

The new scheme has had some response in the community but Synolos founder Barry Ingleton believes some young people may be anxious about engaging with it.

He encouraged anybody hesitant about the new group to get in touch, and said Synolos would be doing some community outreach soon to raise its profile in the area.

Mr Ingleton said: Its bit by bit. Base 33 had …

Read the full article at: http://www.witneygazette.co.uk/news/15992628.New_Witney_youth_group_hopes_more_youngsters_will_get_involved/

SIXTY residents and business across the Mackay region went bankrupt between September and December 2017.

The Australian Financial Security Authority (AFSA) yesterday released quarterly regional personal insolvency statistics and analysis for Queensland regions in the December quarter 2017.

The data revealed 53 Mackay residents declared non-business related insolvencies down from 60 in the September quarter. Across Queensland, there were 1,141 debtors who entered a new personal insolvency – 12.4% down from the September quarter.

Business related insolvencies declined dramatically in Mackay, with just seven recorded compared to 16 in the previous quarter.

The results paint the Mackay economy in stark comparison to that of city neighbours …

Read the full article at: https://www.dailymercury.com.au/news/revealed-53-mackay-residents-7-businesses-go-bankr/3335381/

The Turnbull government is pushing ahead with plans to make university graduates repay their student debts sooner.

The legislation to cut the HECS-HELP repayment threshold from $55,000 to $45,000, among other measures, was introduced to parliament on Wednesday.

The move was flagged in December’s mid-year budget update, and is an easing of what the government originally wanted to do – cut the threshold to $42,000 – with its higher education changes included in the May 2017 budget.

That original package was stalled in the Senate and will now be dropped.

The cut to the repayment threshold was expected to save the budget $245 million over the next four years.

The bill also includes a new lifetime limit on how much students can borrow from taxpay…

Read the full article at: https://www.sbs.com.au/news/govt-pushes-students-to-repay-debt-sooner

Technology is the king in modern times. Things which were considered unimaginable are happening in split of seconds. Disruptive technologies are challenging the way we think, visualize and implement the things. Digital printing, blockchain technology, artificial intelligence, APIs are the things that will rule in the years to come and legal system cannot afford to remain aloof to such changes. The need and requirement of new generation, business, law, transactions cannot be met if we continue with old age system and procedures.  Technology is bridging information gap in financial sector. Fintech companies are revolutionizing lending activities. Conceptualization of Information Utilities (IUs) is perhaps the first instance where technolog…

Read the full article at: http://www.livelaw.in/evolution-law-corporate-insolvency-part-iii-role-information-utilities-issues-creditors-committee/

TWO Sunshine Coast areas have experienced significant spikes in business bankruptcies, with one recording a 266 per cent increase.

Maroochy and Sunshine Coast Hinterland businesses were hardest hit by financial strife during the December 2017 quarter, according to the Australian Financial Security Authority’s regional personal insolvency statistics.

Financial insolvencies increased by eight to 14 in Maroochy over those three months while the Sunshine Coast Hinterland experienced an increase of three to 11, a 266 per cent spike.

Bankruptcies in Buderim – both business and personal related – decreased significantly during the quarter, down from 25 to 18.

Decreases were also recorded in Caloundra (35 to 28) and Namb…

Read the full article at: https://www.sunshinecoastdaily.com.au/news/coast-suburb-where-business-bankruptcies-increased/3335256/

Can retail billionaire Solly Lew save Myer?

Myers survival in its current form must overtake all other concerns and become the main focus for all who have a stake in the outcome. Whether its largest shareholder and second-largest supplier, Lew’s Premier Investments, wins the battle to control its board is of secondary importance.

Myer has hundreds of millions of dollars in landlord lease liabilities that are increasingly difficult to carry when sales and profits are in free fall. Thus the department store chain is staring down the barrel of an existential moment if it remains on its cu…

Read the full article at: http://www.smh.com.au/business/retail/existential-crisis-even-solly-lew-will-struggle-to-save-myer-20180214-p4z0ad.html

MUMBAI, INDIA, Feb. 13, 2018 (GLOBE NEWSWIRE) — Aurionpro Solutions Ltd (NSE:AURIONPRO) (BSE:532668), a leading provider of technology solutions for Banking, Digital Innovation and Cybersecurity, today announced its consolidated financial results for the third quarter and nine months ended December 31, 2017.

Q3 FY17-18 Financial Highlights

Key highlights for the Q3 of FY17-18 are:

• Total Revenue for the quarter was Rs.166.05 Crore, up 13.26 % YoY
• Consolidated EBITDA (includes onetime expenses for ESPS of Rs 1.85 Crore, and Forex Loss of Rs 4.05 Crore) for the quarter was Rs. 27.02 Crore, up 48.08 % YoY. Adjusted EBIDTA at Rs.32.92 Crore.
• Profit After Tax (PAT) was Rs.13.33 Crore, up 163.43 % YoY

In line with our strategy of simplify…

Read the full article at: https://globenewswire.com/news-release/2018/02/14/1340993/0/en/Aurionpro-eying-accelerated-growth-on-sustained-positive-business-momentum-and-reports-revenue-of-Rs-166-05-Cr-in-Q3-FY17-18-EBITDA-at-Rs-27-02-Cr.html