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BURLINGTON – Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), alongside 10 Senate colleagues, sent a letter to Education Secretary Linda McMahon expressing outrage over the Trump administration’s decision to indefinitely pause student loan forgiveness under the Income-Based Repayment (IBR) plan.
The senators asked for clarity for the thousands of affected borrowers who have repaid their student loans for over 20 years and now face financial harm.
Joining Sanders on the letter are Sens. Mazie Hirono (D-Hawaii), Elizabeth Warren (D-Mass.),…
On 21 August 2025, a winding-up order was made against Speciality Steel UK Limited, and the court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator.
Following an application made by the Official Receiver, the court has also appointed Matthew James Cowlishaw, Hywel Phillips and Robert Fishman of Teneo Financial Advisory Limited as Special Managers of the company. The Special Managers have been appointed to assist the Official Receiver with the liquidation.
The Official Receiver will wind-up the company in accordance with his statutory duties. He also has a duty to inquire into the cause of the company’s failure and conduct of current and former directors.
Gupta and his companies have struggled ever since their major funder, Greensill Capital, collapsed into insolvency in 2021. Since then, many GFG assets have been faced with insolvency proceedings initiated by creditors seeking to be repaid what they are owed, including various Greensill entities.
An Australian steelworks owned by Gupta was taken over by the government in February with a A$2.4 billion ($1.5 billion). GFG has been the subject of a Serious Fraud Office investigation since 2021.
“The GFG Alliance is in severe financial distress. At the time of writing, at least 15 entities in the GFG Alliance are subject to formal insolvency or restructuring proceeding,” lawyers for the administrators of Greensill said in written…
(Reuters) -Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region.
Under the deal, about 80 members of PwC’s Australia business restructuring services team will join Teneo and will provide wide range of financial services in the country, including expertise in local and international restructuring and insolvency situations.
Stephen Longley, who has led PwC’s Australia business restructuring services team for the last four years, will become head of financial advisory Australia at Teneo, according to a company statement.
Delays in the admission process continue to be a challenge in the insolvency cases in India, said Ravi Mital, chairperson of the Insolvency and Bankruptcy Board of India (IBBI) on Thursday. He stated that a new framework being planned is aimed at making resolution faster and more efficient without compromising the rights of stakeholders.
“The proposed amendments (to Insolvency and Bankruptcy Code) are designed in a way that we expect that the resolution process will be completed faster. The time taken in the admission of a resolution plan has been further reduced. Under the new amendments, a time has been prescribed now for the adjudicating authority to approve the resolution plan,” Mital said.
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The borrowing limit for a line of credit is usually higher, but so is students’ responsibility; they are required to pay interest immediately on any money they borrow, even while they are in school, and repayment assistance programs are generally not available. For some students, a line of credit can be a helpful supplement to government aid, but it should not become a substitute for the built-in protections and supports of the federal and provincial student loan system.
The Mumbai bench of the National Company Law Tribunal (NCLT) allowed the liquidation of Reliance Capital Ltd. with the provision of the Insolvency and bankruptcy Code(IBC), 2016 and appointed the liquidator.
The Application has been filed under Section 33(2) of Insolvency and Bankruptcy Code, 2016 (“theCode”) read with applicable provisions of the Insolvency and Bankruptcy Code (Insolvency Resolution Process for Corporate
Persons), 2016 (“CIRP Regulations”) by Mr. Pankaj Sham Joshi (hereinafter referred to as the “Applicant”) seeking
The Company Petition was filed by the Financial Creditor i.e. Reliance Capital Limited as per Section 7 of the Code to initiate Corporate Insolvency Resolution Process (“CIRP”)…
