Lawyers for businesses suing Royal Bank of Scotland have demanded that the BBC release part of the City watchdogs report which was leaked to the broadcaster on RBSs controversial restructuring division.

The study was commissioned by the Financial Conduct Authority almost four years ago as part of its investigation into Global Restructuring Group (GRG). Despite being completed some time ago, the regulator has refused to publish its findings.

Ali Akram, whose LexLaw firm represents a number of businesses taking legal action against RBS, made a formal written request to the BBC on Friday for the documents. He has not ruled out going to court if they are not rel…

Read the full article at: https://www.thetimes.co.uk/edition/business/bbc-told-to-release-report-on-rbss-global-restructuring-group-2vxw8xjlj

Marriage is a partnership, and those vows do say “for richer, for poorer”which means if your partner has debt, it is now your business. But navigating debt isnt quite so simple. Some debt is good, other debt is bad, and some debt can come after you, even if your partners name is on the account. If youre getting married to someone who has debt (or you have debt yourself!), these are the things you need to know.

Getting married requires a little more financial planning than just managing your budget, which is where the pros come in. Matt Reiner, CFA, CFP, and CEO and co-founder of personal financial planning app Wela, has seen it all, and is here to help us figure out what you need to know about your partners debt, as well as what to do a…

Read the full article at: http://www.brides.com/story/everything-you-need-to-know-about-your-partners-financial-debts

CHENNAI:

Private power producer Ind Bharath Group has filed an insolvency petition against the States power utility Tamil Nadu Generation and Distribution Corporation (Tangedco) for non-payment of dues of over 700 crore under the Insolvency and Bankruptcy Code, 2016.

This is the first time the insolvency route has been used to recover non-payment of dues from a State-owned enterprise and corporate lawyers view the proceedings in this case would be keenly watched.

Ind Bharath Groups three arms Arkay Energy (Ramewswaram Ltd), Ind Bharath Power Gencom and Ind Bharath Thermal Power Ltd which have supplied power to Tangedco have approached the National Company Law Tribunal (NCLT) Chennai Bench for relief.

They have filed the case under Sectio…

Read the full article at: http://www.thehindu.com/news/national/tamil-nadu/private-power-producer-files-insolvency-petition-against-tangedco/article19612648.ece

New Delhi, Aug 31 () The NCLT has so far decided more than 655 cases under the Insolvency and Bankruptcy Code while all efforts are made to stick to the timelines, the tribunal’s President Justice M M Kumar said today.

The Code, which provides for a market-determined and time-bound resolution of insolvency proceedings, became operational in December 2016.

A case is taken up for resolution under the Code only after getting clearance from the National Company Law Tribunal (NCLT) and subsequently, an insolvency professional is appointed.

“We have already decided at the NCLT more than 655 cases under the IBC. We have made all efforts to keep the time line,” Kumar said here at an event to launch a book and a website on the C…

Read the full article at: http://timesofindia.indiatimes.com/business/india-business/over-655-cases-decided-under-insolvency-law-says-nclt-prez/articleshow/60342356.cms

The gambling industry is using third-party companies to harvest peoples data, helping bookmakers and online casinos target people on low incomes and those who have stopped gambling, the Guardian can reveal.

Traditional online gambling ads have become more expensive, which has encouraged betting firms to resort to alternative means to hook consumers. This led to the increasing use of data analysis to win new customers, industry sources said.

Third-party data providers allowed us to target their email lists with precision, said a digital marketer who counted betting companies among his clients before leaving his agency last year. Lower-income users were among the most successfully targeted segments.

We could also combine segments, i…

Read the full article at: https://www.theguardian.com/society/2017/aug/31/gambling-industry-third-party-companies-online-casinos

For David Bradford, his gambling addiction had got as bad as it possibly could.

The 57 year-old was in prison for fraud after stealing £50,000. His habit had cost his family their home and left them buried under £500,000 of debt.

For 888.com, however, there was more to be had out of David Bradford.

While he sat in jail, his son Adam saw that the online gambling company was sending adverts to his father’s mobile phone, at a cost of £5 a time.

Adam Bradford says: “After calling them six times and pleading with them, they switched off the text messages after almost £100 worth of charges.”

Dr Carol…

Read the full article at: http://www.bbc.com/news/business-41113795

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President Donald Trump is considering attaching an increase in the U.S. debt limit to an initial $5.95 billion disaster aid funding request for Hurricane Harvey, two administration officials said, a move aimed at lowering the risk of an unprecedented default.

The White House request, which could come as soon as Friday, would include $5.5 billion to the Federal Emergency Management Agency and the remainder to the Small Business Administration. The request is being prepared primarily to cover funding demands through the Sept. 30 end of the federal fiscal year, according to the officials, who described the matter on condition of ano…

Read the full article at: https://www.bloomberg.com/news/articles/2017-08-31/trump-is-said-to-weigh-tying-debt-limit-increase-to-harvey-aid

(Adds details on funding request, background, adds quote from head of Senate appropriations panel)

WASHINGTON, Sept 1 (Reuters) – U.S. President Donald Trump has asked Congress for an initial $7.85 billion for Hurricane Harvey recovery efforts, the White House budget director said on Friday, adding that failure to raise the budget ceiling may hinder disaster relief spending.

In a letter to U.S. House of Representatives Speaker Paul Ryan, White House budget director Mick Mulvaney said the request included $7.4 billion for the Federal Emergency Management Agencys Disaster Relief Fund and $450 million for the Small Business Administrations disaster loan program.

This request is a down-payment on the presidents commitment to help affected st…

Read the full article at: https://www.reuters.com/article/storm-harvey-aid/update-1-trump-seeks-7-85-bln-for-harvey-relief-warns-on-debt-ceiling-idUSL2N1LJ01X

Get your debt in control with a card with a long interest-free period and no balance transfer fees.

Are you struggling to repay your credit card debt because of high interest rates? If you answered yes and you want to get your finances under control, a 0% balance transfer credit card could help you repay your debt quicker and without the additional cost of interest.

As there are so many balance transfer offers on the market, weve highlighted some of the most competitive offers available through finder this month. Weve based our selection on the cards with the longest 0% promotional periods that dont charge a balance transfer fee. This way, youll have longer to pay off your…

Read the full article at: https://www.finder.com.au/best-0-balance-transfer-credit-cards-september-2017

Nigeria: Restructuring & Insolvency Review 2017

• September 2017