With help from Benjamin Wermund, Caitlin Emma and Kimberly Hefling COULD ELECTION STALL PROGRESS ON BORROWER DEFENSE? The presidential transition has created a cloud of uncertainty for tens of thousands of student borrowers seeking loan forgiveness some of whom have already waited more than a year to find out if they’ll get relief. The students,…
The bankruptcy application from US fund Cerberus to have independent TD and former property developer Mick Wallace placed in bankruptcy adds a new layer to what is already a complex relationship. Mr Wallace has used his position as a public representative to relentlessly attack the State-owned National Asset Management Agency (Nama) and how it has…
The High Court has adjourned for a month an application to bankrupt Independent TD Mick Wallace. The application arises out of a 2m judgment obtained earlier this year against him by a company called Promontoria (Aran) Ltd which took over the TDs debt to Ulster Bank. Edward Farrelly BL, for Promotoria, told Ms Justice Caroline…
UK household debt has swollen to £1.5trn in the UK for the first time, with indebtedness growing at the fastest rate since before the credit crunch of 2007, according to new research. Before the peak of the financial crisis in 2008, personal debt in the UK reached £1.4trn. Following a recent low of £1.36trn in…
West Midlands-based furniture manufacturer Ashcraft Furniture Limited has entered insolvency for the second time. James Martin and Mark Newman, of CCW Recovery Solutions, were appointed as joint liquidators on 13 October 2016 after the company, formerly known as AFL International Ltd, racked up a creditor bill over £460,000. Details of the insolvency has been revealed…
The number of business closures have risen since the Brexit vote, according to the Q3 insolvency statistics released by HMRC last week. Business insolvencies are up by 2.2% and voluntary liquidations are up by 5.5%, showing that more businesses are choosing to close. Simon Underwood, partner and business recovery specialist at Menzies, commented on Brexit…
National Debt Relief recently shared in an article published October 21, 2016 some of the top financial concerns of consumers and how best to address them. The article titled “How To Overcome The Top 13 Financial Fears Of Americans” takes a look at these most common fears and gives people tips on how to get…
New Delhi: It is unlikely that the draft regulations for insolvency professionals, once finalized, will see many changes, despite concerns many practitioners have raised. A ministry of corporate affairs official, declining to be identified, said that the draft rules are well thought out and incorporate concerns outlined by the industry, an indication that these rules…
The ANZ has appointed Gerard Florian of Dimension Data as group executive technology in another shakeup of senior executives at the bank. As part of the management change, chief information officer Scott Collary, who has been in the role since 2014, will leave the ANZ later this month. Florian was chief strategy officer for the…
The receivers for struggling children’s clothing chain Pumpkin Patch are continuing to look for a buyer for the business after announcing a bunch of store shutdowns and job cuts last week. KordaMentha, the receiver for the ailing retailer, had said late last month it had received interest in the business from a few parties. Joseph…