Insolvency Guardian Media Centre
KFC rival nears Chapter 7 bankruptcy, closes stores, liquidation looms MSN
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When a company enters formal Canadian insolvency proceedings, whether it is a restructuring or liquidation scenario, the Canadian legislation and courts have held that the “interest stops rule” applies in respect of unsecured claims, meaning interest ceases to accrue on such claims after the filing date. A recent decision from the Alberta Court of Appeal has confirmed that the interest stops rule does not apply to secured claims to the extent there is sufficient value in the creditor’s collateral. The decision has confirmed that secured creditors are entitled to payment of their post-filing interest as part of their secured claim, while unsecured creditors’ post-filing interest entitlements are to be disregarded,…
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When a company enters formal Canadian insolvency proceedings, whether it is a restructuring or liquidation scenario, the Canadian legislation and courts have held that the “interest stops rule” applies in respect of unsecured claims, meaning interest ceases to accrue on such claims after the filing date. A recent decision from the Alberta Court of Appeal has confirmed that the interest stops rule does not apply to secured claims to the extent there is sufficient value in the creditor’s collateral. The decision has confirmed that secured creditors are entitled to payment of their post-filing interest as part of their secured claim, while unsecured creditors’ post-filing interest entitlements are to be disregarded,…
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A relatively underappreciated constituency is raising the alarm about President Donald Trump’s “big, beautiful bill” — gamblers.
Tucked into the nearly 900-page legislation is a change to how gambling losses are taxed that some professional and amateur bettors say could crush the industry.
The provision, only a few paragraphs, would limit what gamblers can deduct from their yearly taxes to 90% of their losses starting in 2026. Currently, bettors can deduct the entirety of their losses, up until their winnings.
What a number of gambling aficionados pointed out on social media was that by limiting the tax deduction to 90% of losses, gamblers could actually owe taxes in years when they netted losses on their bets.
“This new amendment…
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Indian electric cab firm BluSmart has entered insolvency, an order from a company law tribunal showed, amid mounting corporate governance issues after a regulatory probe alleged its co-founder diverted funds meant for vehicle leases.
BluSmart suspended operations in April after India’s market regulator barred co-founder Anmol Jaggi from the securities market.
The ban followed allegations that Jaggi diverted funds from his publicly listed affiliate, Gensol, for personal use – including the purchase of a $5 million luxury apartment…
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The news on Wednesday that the Federal Reserve was keeping its benchmark interest rate frozen wasn’t exactly unexpected, but it still marked yet another major disappointment for borrowers. Saddled with high rates on everything from credit cards to personal loans to mortgages, the Fed’s decision this week all but ensures the status quo for around another two months, or until the…
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