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.
Federal Treasurer Jim Chalmers has directed both the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority
The U.S. government now accepts Venmo, for those who would like to volunteer to help pay down the national debt.
That’s in addition to the taxes you pay.
I’ll bet you’re giddy about that.
It’s not really a new thing. For many years, the government has let you donate to the national debt at pay.gov. Apparently, you have had the ability to do so with Venmo for months now. It became known when an NPR reporter recently made a social media post about it.
That shows how often people visit the site to make these contributions.
This is not a scam. Well, other than the unstated premise that your contribution could make a difference.
How much is a trillion?
As I mentioned on a radio program a couple of weeks ago, all we need now is for a…
Federal Treasurer Jim Chalmers has directed both the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) to revise their approach to Higher Education Loan Program (HELP) debts when evaluating mortgage applications.
Under current responsible lending rules, lenders must assess student debt similarly to other debts like credit cards or personal loans, despite HELP repayments only being required when income exceeds certain thresholds.
“People with a HELP debt should be treated fairly when they want to buy a house, and we’re working with the regulators to make sure they are,” Mr Chalmers said.
The changes aim to remove barriers for first-home buyers whose…
A North Canterbury modular home builder has gone into liquidation, leaving behind more than NZ $1 million in debt and limited assets available to creditors. (main image: Modular units by Shape Construction wrapped and staged offsite. Source: Instagram.)
New Zealand-based Shape Construction Ltd, located in Kainga, ceased trading in April after operating for 13 years. The company, which specialised in modular and container-based housing projects across the country, was placed into liquidation on 2 May. Sole director and shareholder Toby Van T Veen appointed Brenton Hunt of Insolvency Matters Limited as liquidator.
According to the liquidator’s first report, the company was facing sustained financial pressure…
Industry sources have highlighted to NEXT.io HG Vora’s involvement in Maverick Gaming’s expansion strategy, which contributed to its eventual bankruptcy. Maverick Gaming, a Washington-based card room and casino operator founded by pro poker player Eric Persson, filed for Chapter 11 Bankruptcy protection [last] month.
An S&P credit rating note published June 2024 had previously highlighted the company’s “unsustainable” capital structure, due to its high debt balance in a difficult interest rate environment.
This followed an aggressive expansion strategy, where Maverick purchased numerous properties across…
A Special Bench of the Supreme Court headed by Chief Justice of India B.R. Gavai on Thursday began hearing a review of a May 2 verdict of the court, which rejected a resolution plan submitted by JSW Steel for Bhushan Power and Steel Ltd (BPSL).
The apex court judgment had further ordered the liquidation of BPSL to commence.
Appearing for the former promoters of BPSL, senior advocate Dhruv Mehta urged against the liquidation and sought a fresh corporate insolvency resolution process to be initiated if JSW’s resolution plan was found faulty.
Solicitor General Tushar Mehta, appearing for the Committee of Creditors, said the ex-promoters had “no business” questioning the terms of the resolution plan.
A Delaware bankruptcy judge Thursday confirmed the Chapter 11 liquidation plan from the company that once owned conservative social media platform Parler after the debtor resolved an objection from its ousted…
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The charges stemmed from $265,000 in checks Morris wrote in 2024 to the Wynn Las Vegas and MGM Grand casinos as part of a gambling line of credit. The checks bounced due to insufficient funds, triggering a warrant for his arrest. He was taken into custody at a South Florida airport on July 27.
Shortly after his release, Morris addressed the incident in a candid Instagram post—now deleted—stating he never intended to skip out on the debt and was “blindsided” by the arrest. He claimed he was held without bail, food, or water for over 50…
