US Department of Education Announces Path for Debt Relief for Students at 91 Additional Corinthian Campuses – U.S. Department of Education (press release)

Liquidation

The U.S. Department of Education announced today that students who were defrauded at 91 former Corinthian Colleges Inc. (Corinthian) campuses nationwide have a clear path to loan forgiveness under evidence uncovered by the Department while working with multiple state attorneys general. These campuses represent the largest group of borrowers eligible for loan relief so far…

The Quagmire of the ‘Dual Fiduciary’ – New York Law Journal (registration)

Liquidation

Scott M. Himes and Brent Weisenberg In today’s investment world, private equity firms, investment managers and other investors often acquire a substantial interest in a business and, as a consequence, earn the right to put “their people” on the company’s board. That person then becomes a “dual fiduciary”someone with fiduciary obligations to his or…

Victoria urges Malcolm Turnbull to crack down on debt management firms – The Age

Bankruptcy

Consumer Affairs Minister Jane Garrett has serious concerns about debt management firms. Photo: Josh Robenstone The Turnbull government is under growing pressure to crack down on “debt vultures” that fleece money from vulnerable people by falsely promising to provide solutions to their financial distress. Victoria has written to Canberra warning about the conduct of debt…