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Debt forgiveness can offer significant relief from high-rate credit card debt, but only in the right situations.
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Credit cards have always been an expensive way to borrow thanks to the high rates, compounding interest charges and extra fees they come with — and this type of debt is only getting pricier. With credit card interest rates currently averaging nearly 22%, just under an all-time high, many cardholders are now realizing that even their small revolving balances can balloon quickly. And, if…
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MANNHEIM, Germany, May 13, 2025 (GLOBE NEWSWIRE) — Affimed N.V. (Nasdaq: AFMD), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced its decision to file an application for opening of insolvency proceedings with the local court of Mannheim in Germany.
As previously reported, Affimed N.V. (the “Company”) has been engaged in discussions with potential investors and partners with respect to potential strategic transactions to raise additional capital. Despite its continuous and ongoing fundraising efforts, the Company has not been able to raise sufficient additional funds to continue the operations of the Company and its…
Coin is entering a new phase. The Italian department store company has received approval from the Court of Venice that will allow it to carry out a capital increase of more than €30 million, Milano Finanza reported. Despite the fact that the new shareholders were already closed since the end of April, the company still needed the judicial green light to implement the renewed restructuring plan.
A Hunan court confirmed the Stellantis joint venture was unable to repay debts despite a major sell-off of assets. By Stewart Burnett
A court in China’s Hunan province has declared GAC Fiat Chrysler Automobiles (GAC-FCA) bankrupt, ending the troubled joint venture between Stellantis and the state-owned Guangzhou Automobile Group. The bankruptcy administrator confirmed the company was unable to repay debts and lacked assets or conditions for restructuring.
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The tabling of the Bill to amend the Insolvency and Bankruptcy Code (IBC) in the upcoming monsoon session of Parliament now looks uncertain, given that “there has been no consultations with stakeholders till date on the draft Bill,” according to an official source. The ministry of corporate affairs has not yet prepared the final Bill, the source added.
Sources had earlier indicated that the Bill would be pushed for consideration and passage in the monsoon session.
The key aspect of the amendments includes changes in the crucial section 31(4) of the IBC that mandates the approval of the Competition Commission of India (CCI) before the committee of creditors approves a resolution plan involving “combinations”. This…
With the government last month announcing that the Parliamentary Joint Committee on Corporations and Financial Services would begin an inquiry into corporate insolvency in Australia, iNO sought the views of stakeholders and interested experts on the Inquiry’s Terms of Reference.
“At a higher level of policy, I think the inquiry is an opportunity to revisit some fundamental questions about if, why and how we expect company directors to be accountable for excessive risk-taking/leverage and the prevalence of egregiously deficient balance sheets which mean that unsecured creditors usually receive no dividends from liquidations. In short, I think the corporate rescue narrative, important though it is, has crowded out a much-needed…