Student loan counselor Taunya Kennedy knows what its like to be overwhelmed by debt. The 45-year-old single mother has a mortgage and credit card balance, and still shoulders her own college loans after years of postponing payments. On top of working full time for the nonprofit credit-counseling agency Money Management International, Kennedy earns extra income…
FRANKFURT (Reuters) Governments could help euro zone banks reduce their huge bad debt holdings by backing so-called bad banks that could purchase non-performing loans, European Central Bank Vice President Vitor Constancio said on Wednesday. As the euro zones market for bad debt is small and illiquid, bad banks or asset management companies (AMC) could correct…
The Reserve Bank of India (RBI) on Tuesday said it has shortlisted 12 cases which could be immediately referred for bankruptcy proceedings. It also laid down criteria to compel banks to invoke the insolvency code to solve Indias Rs10 trillion stressed assets problem. In an email interview, M.S. Sahoo, chairman of the Insolvency and Bankruptcy…
DOORS SHUT: The former premises of Spectrum Window Fashions on Havannah Street. A BUSINESS owned by former Bathurst mayor Gary Rush has gone into voluntary liquidation owing money to the Australian Tax Office and some suppliers. Chris Chamberlain of Chamberlains SBR has been appointed liquidator for Spectrum Window Fashions Pty Ltd after a general meeting of the…
By Dominic Powell and Emma Koehn. The Ten Network has been placed into voluntary administration after shareholders Lachlan Murdoch and Bruce Gordon did not guarantee a $250 million loan to cover the stations $200 million debt, reports the Herald Sun. Administrators from KordaMentha have been appointed, and are currently undergoing a financial and operational assessment of…
SumoSalads founder says the game has significantly changed since the healthy food franchise network signed a range of current shopping centre leases, prompting the company to put two leasing entities in voluntary administration as negotiations with landlords over rental terms heat up. On Tuesday, administrators at were appointed to two companies relating to the lease agreements…
By Jessica DiNapoli NEW YORK, June 13 (Reuters) – J. Crew Group Inc disclosed terms on Tuesday of a debt restructuring deal that would roughly cut in half the value of its nearly $567 million in bonds, as well as extend their maturity by two years, after receiving the backing of some key creditors. The…
Minister for Communications and the Arts Mitch Fifield has called on Bill Shorten and Labor to show they care about the Australian media industry and support the proposed media reforms, following the news of Tens voluntary administration this morning. In a statement, Fifield said Tens announcement of voluntary administration was a wake-up call to the…
Wednesday June 14, 2017 Ten Network has announced it will go into voluntary administration, a day after its billionaire shareholders refused to back a new finance package. SA’s new political front as Brokenshire targets Qatari investment … Read the full article at: http://indaily.com.au/news/2017/06/14/ten-goes-voluntary-administration/
NEW YORK J. Crew Group Inc. disclosed terms on Tuesday of a debt restructuring deal that would roughly cut in half the value of its nearly $567 million in bonds, as well as extend their maturity by two years, after receiving the backing of some key creditors. The move comes after Reuters reported last…