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Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
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3 resolutions that can save you from festive debt next year – Mirror.co.uk
Almost eight million people are predicted to finish January behind with their finances, thanks to the cost of celebrating Christmas
The 2018 New Year’s Resolutions that could help Aussies save $30000 – Mozo.com.au
Tuesday 02 January 2018 Article by Ceyda Erem One of the two biggest resolutions around are to lose weight and
Fraud investigation into insolvency firm P&A Partnership is dropped – The Times
Government abandons inquiry into multimillion-pound fee scamJames Hurley, Enterprise EditorJeremy Priestley, P&As controlling partner, strenuously denies there was any wrongdoing at
Insolvency proceedings to take toll on banks’ profits – Times of India
Mumbai: Banks will continue to make heavy provisions towards doubtful loans for the fourth quarter with lenders initiating insolvency proceedings
4 strategies to help you keep your resolution to pay down debt – MarketWatch
Paying off debt in the new year is a common resolution. But resolving to do something and actually doing it
Toowoomba company went into liquidation owing $3.7m – Toowoomba Chronicle
PETERS Coaches went into liquidation owing more than $3.7 million to creditors, according to the latest report lodged with the
Hammond relying on household debt to hit targets, says McDonnell – The Guardian
John McDonnell has accused the government of relying on millions of British families going further into debt in order to
Bad credit? You still have tools to whittle down debt – USA TODAY
Amrita Jayakumar, NerdWallet Published 7:00 a.m. ET Dec. 31, 2017 | Updated 7:55 a.m. ET Dec. 31, 2017CLOSE A good
ITC, JK Paper among potential suitors for Sirpur Paper Mills – Livemint
A file photo of a paper mill. Telangana-based Sirpur, one of the oldest paper mills in the country, shut operations
Report: Harry Wilson, top GOP recruit to challenge Cuomo, won’t run for governor – Auburn Citizen (blog)
Harry Wilson, a corporate restructuring expert who was viewed as a top prospect to challenge Democratic Gov. Andrew Cuomo in
Top story: Toyota’s banner year – Northeast Mississippi Daily Journal
Toyotas 10th year in Blue Springs was the business highlight of the year in the Northeast Mississippi, and the automaker
This new year rethinking gratitude – The Conversation US
Its a new year, which means that its also time to imagine new beginnings and better futures. Its time, in
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Almost eight million people are predicted to finish January behind with their finances, thanks to the cost of celebrating Christmas and the new year.

That’s according to new figures from National Debtline, run by the Money Advice Trust charity.

After the celebrations of the Christmas period, January is a challenging time for many households with the impact of festive spending taking its toll on household budgets,” said Money Advice Trust chief executive Joanna Elson.

But it doesn’t have to be that way.

With millions expecting to fall behind with their finances in January, we want people to be financially prepared for the year ahead,” she added.

Read More

The time to plan is now

Way more important than the thank you cards…

Read the full article at: http://www.mirror.co.uk/money/3-resolutions-can-save-you-11782222

Tuesday 02 January 2018

Article by Ceyda Erem

One of the two biggest resolutions around are to lose weight and save money, so how does shedding some of the holiday kilos while saving around $30,000 sound?

The 2018 New Years Resolutions that could help Aussies save $30,000

Mozo jotted down 6 of the most common new year resolutions and found that Aussies could be saving big by going cold turkey on our bad habits in 2018.

The biggest saving was quitting smoking, followed by cutting out booze and junk food.

RELATED: UBank reveals: 48% of Aussies admit to one major bad savings habit

We all know (smoking) can be hard on your health, but with the cost of a packet of cigarettes continuing to rise, it can be hard on your hip pocket. A pack-a-day smoker can burn through a whopping $12,000 each year, said Mozo …

Read the full article at: https://mozo.com.au/savings-accounts/articles/the-2-18-new-year-s-resolutions-that-could-help-aussies-save-3

Government abandons inquiry into multimillion-pound fee scam

James Hurley, Enterprise Editor

Jeremy Priestley, P&As controlling partner, strenuously denies there was any wrongdoing at the company, which went bust two years agoSWNS

The Department for Business, Energy and Industrial Strategy has dropped a criminal investigation into a firm of insolvency practitioners accused of a multimillion-pound fee fraud.

P&A Partnership, a Sheffield-based insolvency firm that worked on high-profile administrations including those of several football clubs, had been accused of cheating creditors of scores of businesses out of millions of pounds through overcharging.

The investigation has been abandoned after officials decided that continuing was not likel…

Read the full article at: https://www.thetimes.co.uk/article/fraud-investigation-into-insolvency-firm-p-a-partnership-is-dropped-w90j7m2sd

Mumbai: Banks will continue to make heavy provisions towards doubtful loans for the fourth quarter with lenders initiating insolvency proceedings against two dozen of the 28 large defaulters referred to them by the Reserve Bank of India (RBI).

The central bank’s norms require that if insolvency proceedings are started against a borrower, banks will have to set aside as provisions half the loan amount from their quarterly profits. The provisions are necessary as banks are likely to recover only a small fraction of their money from these loans.

The list of 28 companies referred to banks by the RBI include big names like Videocon Industries, Videocon Telecom, Ruchi Soya, Jayaswal Neco, Essar Projects, Orchid Pharma, IVRCL E…

Read the full article at: https://timesofindia.indiatimes.com/business/india-business/insolvency-proceedings-to-take-toll-on-banks-profits/articleshow/62330248.cms

Paying off debt in the new year is a common resolution. But resolving to do something and actually doing it are two different things.

Taking a smart approach to building good habits, however, can help you master your debt in the coming year.

Jon Bailey, professor emeritus in the psychology department at Florida State University, suggests applying some p…

Read the full article at: https://www.marketwatch.com/story/4-strategies-to-help-you-keep-your-resolution-to-pay-down-debt-2017-12-29

PETERS Coaches went into liquidation owing more than $3.7 million to creditors, according to the latest report lodged with the Australian Securities and Investments Commission.

Peters Coaches, a family-owned and run company that was in business for nearly seven decades, closed its doors on Monday, December 11, and was placed into liquidation at the direction of shareholders.

Toowoomba liquidator Adam Ward of Worrells Solvency and Forensic Accountants said the company was hit hard by the downturn in the resources sector over the past few years, and that attempts to refocus the business on the tourism industry had proved unsuccessful.

In a report on the company’s affairs lodged with ASIC, company director Russell Peters…

Read the full article at: https://www.thechronicle.com.au/news/report-toowoomba-company-went-liquidation-owing-37/3301589/

John McDonnell has accused the government of relying on millions of British families going further into debt in order to meet Treasury targets.

The shadow chancellor said families were set to borrow £445bn by the end of the parliament. He also highlighted official figures showing the ratio between household debt and income had reached a five-year high, with forecasts suggesting it will hit 150% by 2022.

That means families will have amassed debts worth a year and a halfs income which Labour warned could result in people falling into financial difficulties.

McDonnell is planning for the Labour party to focus heavily on the question of household debt as part of its new year strategy.

The alarming increase in household debt at a tim…

Read the full article at: https://www.theguardian.com/money/2017/dec/31/hammond-relying-on-household-debt-to-hit-targets-says-mcdonnell

Amrita Jayakumar, NerdWallet
Published 7:00 a.m. ET Dec. 31, 2017 | Updated 7:55 a.m. ET Dec. 31, 2017

CLOSE

A good credit score can take years to build, and when we make mistakes that jeopardize our credit, it can be challenging to recover. Here are five ways to boost your credit score by 100 points or more.

bad-credit-report-getty_large.jpg

(Photo: Getty Images)

Theres no easy way to get rid of debt. But a bad credit score typically below 630 can make it even harder.

In 2012, Cara and Jesse Nuno had more than $270,000 in debt between them and credit scores below 600. The Minnesota couple considered bankruptcy but couldnt afford the attorney fees, and Cara had a disability that prevented her from working.

The Nunos turned to a credit counselor, who …

Read the full article at: https://www.usatoday.com/story/money/personalfinance/2017/12/31/bad-credit-you-still-have-tools-whittle-down-debt/981852001/

A file photo of a paper mill. Telangana-based Sirpur, one of the oldest paper mills in the country, shut operations in September 2014 following successive quarterly losses. Photo: Bloomberg

A file photo of a paper mill. Telangana-based Sirpur, one of the oldest paper mills in the country, shut operations in September 2014 following successive quarterly losses. Photo: Bloomberg

Mumbai: Telangana-based Sirpur Paper Mills Ltd, which is in the middle of insolvency proceedings at the Hyderabad bench of the National Company Law Tribunal (NCLT), has received initial expressions of interest from several potential suitors including ITC Group, JK Paper Ltd, West Coast Paper Mills Ltd and the Kolkata-based Kohinoor Group, according to two people briefed on the matter.

The deadline for submitting the expressions of interest ended in the third week of December, following which binding bids are expected in January, the people cited above s…

Read the full article at: http://www.livemint.com/Companies/uqKbqYq5uahJgiVK5YMXaM/ITC-JK-Paper-among-potential-suitors-for-Sirpur-Paper-Mills.html

Harry Wilson, a corporate restructuring expert who was viewed as a top prospect to challenge Democratic Gov. Andrew Cuomo in 2018, will not run for governor. 

The New York Daily News cited a source close to Wilson who said family considerations were the primary factor in his decision not to seek the Republican gubernatorial nomination. 

Wilson told The Citizen in an interview last summer that his family would be a major factor in his decision-making process. He has four young daughters, including two in high school. As the founder of his own business, he now sets his own schedule. If he were elected governor, he would likely lose that abil…

Read the full article at: http://auburnpub.com/blogs/eye_on_ny/report-harry-wilson-top-gop-recruit-to-challenge-cuomo-won/article_e39527fa-ef04-11e7-a357-13c9c9529cf8.html

Toyotas 10th year in Blue Springs was the business highlight of the year in the Northeast Mississippi, and the automaker punctuated its anniversary by producing its 1 millionth car earlier in the month.

One million vehicles in six years of production thats a true testament to the teamwork of over 1,500 team members who work here, said incoming Toyota Mississippi President Sean Suggs. I remember I came here four years ago, and I said we had to be brilliant at the basics, and I think the team members have proven that over and over again, building quality at the process.

Originally announced in 2007, the plant was to open in late 2009 to pro…

Read the full article at: http://www.djournal.com/news/business/top-story-toyota-s-banner-year/article_9029c213-dd56-5d48-81fe-45aab7c72408.html

Its a new year, which means that its also time to imagine new beginnings and better futures. Its time, in short, for New Years resolutions.

Gratitude, in particular, has become a popular resolution. For many of us, living gratefully seems to promise more happiness in our lives.

But what if weve got gratitude all wrong?

I began writing my book The Art of Gratitude because I too believed that gratitude might offer an antidote to the anger, fear and resentment that characterize contemporary life. But as I read one self-help book about gratitude after another, it had the opposite effect on me. The more I read, the less grateful I felt.

I came to ask, does the problem lie in how gratitude tends to be defined?

The debt…

Read the full article at: http://theconversation.com/this-new-year-rethinking-gratitude-88227

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