NEW DELHI: Small borrowers with annual income up to 60,000 are likely to get automatic relief for any unsecured loans they are unable to repay, according to a new scheme for personal insolvency resolution that the government has prepared. The new scheme that will replace colonial era laws dealing with personal bankruptcy will also give…
STUFF Lights blazed late into the night as CBL Insurance staff attempted to save the company in 2018. The failures of CBL Insurance has led to a review at the Reserve Bank. CBL Corporation, which was once valued at $750 million, has been placedintoliquidation by the HighCourt in Auckland. CBL Corporation was a feature of…
A FEDERAL agency chased a Gladstone man for nearly two years to fill out a form a magistrate said would take just five minutes. Former business owner Michael Rodney Stark pleaded guilty in Gladstone Magistrates Court last week to one count of fail to make out and file statement of affairs and furnish a copy…
() has entered into an agreement to sell part of its Infusion business to a subsidiary of BTC Health Ltd () for $6.3 million. This will complete the first phase of the Infusion business divestiture. Completion of the sale is subject to certain conditions being satisfied with the sale expected to complete in…
NEW DELHI: India has begun work on a universal debt relief scheme for small borrowers aimed at micro enterprises, small farmers and artisans, which should be ready for implementation when the next government is in place. Individuals below a specified income and asset threshold will be eligible for debt relief. People with annual income of…
Barred promoters may soon have legitimate means to regain control of their insolvent assets at the liquidation stage if recent proposals of the Bankruptcy Law Reform Committee are accepted. And while on the face of it this seems contrary to section 29A of the Insolvency and Bankruptcy Code, 2016, experts believe otherwise, pointing out that…
The yoghurt company Chobani plans to pay the school lunch debts of low-income families in a small district in the US state of Rhode Island. The district had made headlines by announcing children who owe money would get cold sunflower butter and jam sandwiches instead of a hot meal. The office of Warwick mayor Joseph…
The yoghurt company Chobani plans to pay the school lunch debts of low-income families in a small district in the US state of Rhode Island. The district had made headlines by announcing children who owe money would get cold sunflower butter and jam sandwiches instead of a hot meal. The office of Warwick mayor Joseph…
Australian coal producerTerraCom (ASX:TER)has rolled out a A$63 million (about $44m) restructuring plan, consisting of a A$35-million capital raise and a $20-million convertible bond to support its growth ambitions. The company, which has two operating mines in Queensland and Mongolia, is launching a fully underwritten entitlement offer priced at 58c per share to raise an…
The yoghurt company Chobani plans to pay the school lunch debts of low-income families in a small district in the US state of Rhode Island. The district had made headlines by announcing children who owe money would get cold sunflower butter and jam sandwiches instead of a hot meal. The office of Warwick mayor Joseph…