THOUSANDS of residents across the Corangamite electorate will have their student debt cut by an average of $5,500, following the passing of the newly re-elected Albanese Government’s first piece of legislation.

The 48th Parliament convened for the first-time at the end of last month, with Labor’s pre-election promise to slash student and apprentice debt by 20 per cent, the first priority.

About 18,000 people in the Corangamite electorate alone are expected to benefit from the new legislation, which has also seen the minimum repayment threshold rise to $67,000, up from $54,000.

Speaking to the bill last week, Corangamite Labor federal member Libby Coker said the legislation will mean more…

THOUSANDS of residents across the Corangamite electorate will have their student debt cut by an average of $5,500, following the passing of the newly re-elected Albanese Government’s first piece of legislation.

The 48th Parliament convened for the first-time at the end of last month, with Labor’s pre-election promise to slash student and apprentice debt by 20 per cent, the first priority.

About 18,000 people in the Corangamite electorate alone are expected to benefit from the new legislation, which has also seen the minimum repayment threshold rise to $67,000, up from $54,000.

Speaking to the bill last week, Corangamite Labor federal member Libby Coker said the legislation will mean more money in the pockets of young…

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There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:

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Factors such as credit score, debts, employment history, and spending habits can greatly affect your mortgage application. What about gambling, though? Well, mortgage lenders go through your credit card transactions thoroughly and will likely flag gambling-related transactions.

After all, the demand for this form of entertainment is still high and continues to rise. Just last year, there were over 19.3 million online gamblers in Canada, so it’s a common hobby. Currently, there are dozens of new online casino reviews that help players find the sites where they can bet and play slots, poker, and live dealer games. They attract new players and experienced gamblers with numerous promotions and bonuses. However, this can also…

The another significant amendment is shifting the Competition Commission of India (CCI) approval timeline — allowing the CoC to approve a plan without waiting for prior CCI approval. This means only the successful resolution applicant will need to secure CCI clearance post-CoC approval.

Under the current framework, all prospective resolution applicants are required to obtain CCI approval, before the CoC to approve the resolution plan.

In cases like Jaiprakash Associates, where multiple bidders were involved, each had to seek CCI approval, leading to unnecessary delays and increased costs. The new framework is expected to streamline the process and significantly reduce compliance costs for applicants.

Thirdly, the Bill clarified the…

By Alex Wittenberg · August 12, 2025, 1:30 PM EDT

A Delaware bankruptcy judge on Tuesday approved Joonko Diversity Inc.’s Chapter 11 liquidation plan after the debtor resolved objections from shareholders and others, letting the artificial intelligence-powered recruitment firm wind down…

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US corporate bankruptcies in July hit their highest monthly level since 2020. The number of large public and private companies filing for bankruptcy increased from 66 in June to 71 in July. This makes 446 bankruptcy filings for the first seven months of 2025, the most since 2010.

Economic pressures due to Trump tariffs

In the face of rising interest rates, persistent supply chain issues, and uncertainty surrounding Trump tariff policies, companies continue to face increasing challenges. For the seventh consecutive month in July, the Federal Reserve kept its benchmark interest rate between 4.25% and 4.50%.

BREAKING: 71 large US companies went bankrupt in July, the highest monthly total since the 2020 pandemic.

This follows 66…

The Bill outlines a creditor-led, largely out-of-court insolvency process for quick rescue, faster tribunal timelines, a new framework for group insolvencies and cross-border bankruptcies, and clearer rules on the priority of government dues. It also marks a big departure from the current regime by allowing management of bankrupt companies to continue running day-to-day operations under the watch of a resolution professional.

At present, insolvency cases that are meant to be admitted within 14 days take an average 434 days, eroding value for lenders and shareholders.

“The proposed amendments aim to reduce delays, maximise value for all stakeholders, and improve…

    New Delhi, Aug 12 (PTI) The government on Tuesday introduced a bill in the Lok Sabha to amend the insolvency law, proposing a raft of amendments, including an out-of-court mechanism to address genuine business failures, group and cross-border insolvency frameworks.
    Besides, provisions have been proposed to reduce the time taken for admission of insolvency resolution applications, to expand the definition of resolution plan and decriminalisation of certain actions.
    Finance and Corporate Affairs Minister Nirmala Sitharaman introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, which was later referred to a select committee of the House, following the request of the minister.
    In the Statement of…

Switzerland: 107-year-old health insurance company goes bankrupt, affecting over 9000 citizens

Zug-based health insurance company Klug has declared bankruptcy and will cease operations at the end of the year. The news was confirmed on Tuesday by the company, which has a 107-year history and counts around 9,300…