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.
First Brands Group, the auto parts maker facing a growing wave of doubts about its finances and earnings statements, is discussing options with its creditors for restructuring its $6 billion debt load that include a possible Chapter 11 bankruptcy filing.
The company’s advisers are sounding out lenders for new financing, which could be structured as a so-called debtor-in-possession loan to fund continuing operations if it begins the Chapter 11 process,…
Bengaluru: Widespread crop loss due to excessive rain during the now concluded kharif season has prompted farmer organisations to demand a loan waiver and the setting up of a debt relief commission on the lines of Kerala. Despite the early onset of monsoon in May, sowing took place only on 67.7 lakh hectares as against a target of 82.5 lakh hectares for the June–Sept season. Crops on 5.2 lakh hectares were lost. Northern districts including Kalaburagi, Dharwad, Bidar, Belagavi, Bagalkot, Haveri and Vijayapura, were the worst hit. “Farmers in Karnataka experience only two conditions: Floods due to excessive rains or drought,” said T Yashawanta, state general secretary, Karnataka Pranta Raitha Sangha. “Whether it rains or not, farmers…
US Treasury Secretary Scott Bessent has said the US is “ready to do what is needed” to help stabilise Argentina’s escalating financial turmoil.
“All options for stabilization are on the table,” Bessent wrote on social media, calling Argentina a “systematically important US ally in Latin America”.
The message helped to calm financial markets, which have been rattled as recent election losses raise doubts about the future of Javier Milei’s cost-cutting, free-market agenda.
The value of the peso has been plunging, while investors dump Argentine stocks and bonds.
Milei, a libertarian economist and ally of US President Donald Trump, was elected president of Argentina in 2023 as an outsider candidate who promised to control soaring…
CHICAGO, IL – Verizon Great Lakes and the Chicago Bears today announced a partnership to provide $2 million in medical debt relief specifically for Illinois veterans, as part of Verizon’s groundbreaking $22 million commitment to eliminate crushing medical debt for veterans across the Great Lakes region through 2026.
This initiative targets the crushing weight of medical debt—a significant burden that disproportionately affects veterans transitioning to civilian life and seeking care. By removing this obstacle, the program aims to provide a pathway to greater financial stability for those who have served the nation.
Since launching in 2024, Verizon’s veteran medical debt relief program has already erased $8.79 million in medical debt for…
Verizon (NYSE:VZ) and the Chicago Bears have partnered to provide $2 million in medical debt relief for Illinois veterans, as part of Verizon’s larger $22 million commitment to eliminate medical debt for veterans across the Great Lakes region through 2026.
The program has already eliminated $8.79 million in medical debt for over 6,000 veterans throughout the Great Lakes market since 2024, providing an average relief of $1,400 per veteran. The initiative joins Verizon’s existing partnerships with major sports franchises including the Cleveland Browns, Detroit Lions, and Green Bay Packers. Veterans will be contacted directly by ForgiveCo, with no application required.
Cryptocurrencies saw big declines on the back of a broad-based sell-off on Monday as positions worth $1.5 billion were liquidated, according to data from Coinglass, causing the price of tokens like bitcoin and ethereum to tumble.
Over 407,000 traders liquidated positions on the crypto derivatives market the 24 hours leading up to Monday, Coinglass data shows. That marks the biggest liquidation wave the crypto market has seen since March 27, according to the crypto trading platform.
Bitcoin dropped as much as 3% on Monday to trade around $111,000, before the coin pared its losses and climbed back above the $113k mark.
Police in Vietnam have rescued two Chinese nationals who were kidnapped after they failed to repay their casino debt to loan sharks. [Image: Shutterstock.com]
Law enforcement in Vietnam has rescued two Chinese nationals who racked up major debts at a casino in the country and were kidnapped after they failed to repay what they owed.
Li Yao Zong and Wang Xiaoci reportedly lost hundreds of thousands of yuan that they had gotten from loan sharks when playing at the Hoiana Casino. They were told that the daily interest payments on the money owed could be as much as 20,000 yuan (US$2,811).
friend of one of the victims was seen being forced into a car at the casino
Greek gaming technology firmIntralot has lined up €660 million ($775 million) in new long-term debt financing to help fund its planned acquisition of Bally’s International Interactivebusiness and refinance existing borrowings.
The financing package includes a £400 million ($539 million) six-year senior secured term loan agreement with institutional lenders and €200 million ($234 million) in binding commitments for a four-year amortising term loan from a consortium of Greek banks, Intralot said on Friday.
The company expects the proceeds will be used “to finance in part the acquisition and repay certain existing indebtedness.”
The closing of the new debt facilities remains subject to conditions related to the…
