New Delhi, Sep 20 () The Insolvency and Bankruptcy Code (IBC) should gradually evolve to its full potential and one of its main objective is to maximise the value of assets of corporate borrowers, IBBI chairman M S Sahoo said today. The Insolvency and Bankruptcy Board of India (IBBI) chief also said that the capability…
When the Birmingham substance misuse service was handed from the local NHS trust to a charity, Carol Rice lost her job amid cost-cutting, just as she was facing deeper debt problems. The 59-year-old single mother of three had been helping recovering drug addicts and had a second job to try to make ends meet. Eventually,…
Debt charities have reported a jump in the number of young people seeking help with bad debts as growing numbers of under-30s struggle to pay household bills, interest on bank overdrafts and rent arrears. Citizens Advice said that the failure to cope with payday loans and other forms of high cost credit was one of…
A growing proportion of people seeking help with debt problems are aged under 40 years old, a charity has reported. Nearly two-thirds (63%) of all clients advised by StepChange Debt Charity in the first six months of 2017 were aged under 40. In 2011 this proportion stood at 51%. StepChange also said that under-25s seeking the…
Farmer heartbroken after cull exit Source: Ballarat Courier LAST week, third-generation farmer Keith Slorach gave the last of his guns away. Having just been declared bankrupt, the 60-year-old could no longer trust himself with the weapons after having just witnessed the rounding up of his precious merino flock for slaughter on his Mortchup farm near…
Three months after it was first declared bankrupt and then reopened, the saga of Spanish gastro restaurant La Boqueria has come to an end. Located in rue Erasme, Luxembourg-Kirchberg, its owners declared bankruptcy on 15 September, according to our sister site Paperjam. It was initially declared bankrupt on 2 June but reopened a week later…
After the recent dispute concerning Insolvency Law, which involved Jaypee Infratech and its flat buyers, there has been a debate on a possible amendment to the Insolvency and Bankruptcy Code (IBC). The IBC as should be well known is not a sectoral law. This means that it doesnt cater to the demands and needs of…
General Electric, is nearing a decision on whether to grant a board seat to Nelsons Peltzs Trian Fund Management, a move that signal that the company is contemplating a more radical downsizing of the conglomerate than previously disclosed, FOX Business has learned. The decision by GEs board of directors could be made in the coming…
KPMG Baltics, the administrator of the to-be-liquidated Latvijas Krajbanka, recovered EUR 2.141 million in August 2017, which is 4.1 times more than a month before, informs LETA, according to a report published in the official gazette Latvijas Vestnesis. In August 2017, the whole sum was recovered from loans. This brings the total amount recovered in…