An extra 37.8 million support package will be available to debt advice providers this year (20-21) so they can continue to provide essential services to help more people who are struggling with their finances due to Coronavirus, minsters have announced. The Money and Pensions Service (MaPS), will oversee the allocation of the funds, including to…
Leslie Tayne, 48, remembers being in her early 20s and unable to pay her private and federal student loans from law school. Her first job out of law school only paid $28,000 a year, and she was unable to afford both her minimum loan payments and her basic living expenses each month. Tayne put her…
Equestrian Australia has been placed into voluntary administration. Picture: Sarah Reed Equestrian Australia has been placed into voluntary administration after Sport Australia withdrew funding for the sport, which has delivered 12 Olympic medals, including six golds. In a shock announcement on Tuesday, which caps a tumultuous 18 months for the national sporting body, the organisation…
Farhan Akhtar and Shibani Dandekar in a throwback photo at a BKC restaurant. The two spent the lockdown making music.; FILE PHOTO: GURUJEET SINGH DEVGUN Flexing muscle SUNNY Deol is keeping a good deed silent. The actor-turned-MP has been hugely active in helping migrant workers from across the world come back home to Punjab, we…
When youre planning a major restructuring of your company things start to look like a tangled web, especially if downsizing is involved. Whether youre scaling up or scaling back, all the moving pieces often turn into a giant swirling tornado. Confusions surrounding leadership structure and reporting processes can make simple tasks a complicated mess that…
China’s Commerce Minister Zhong Shan attends a news conference at the State Council Information Office, following the outbreak of the coronavirus disease (COVID-19), in Beijing, China, May 18, 2020. REUTERS/Thomas Peter As developing countries confronted the daunting challenges of the COVID-19 pandemic and the ensuing global economic downturn in April, the international community mobilized support…
Less than two weeks after taking its business private, Hong Kong based sourcing giant Li & Fung is restructuring in a move that will potentially see the loss of more than 150 jobs. The company, which has been buffeted by the US-China trade war and customer bankruptcies, says the global coronavirus pandemic has been the…
NEW YORK–(BUSINESS WIRE)–Jun 8, 2020– Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Andrew M. Parlen is joining the firm as a partner in the Restructuring Department, resident in the New York office. Mr. Parlen represents public and private companies, ad hoc groups of creditors and investors in a variety of distressed situations,…
Most large German companies that go through a financial restructuring do so with the aid of a restructuring expert report (Sanierungskonzept) in the form of the IDW S6, a standard published by the Institute of Public Auditors in Germany. For German companies in financial difficulty the IDW S6 is the plan back to profitability. During…
China has suspended debt repayments for 77 developing countries and regions as part of the G-20 debt relief initiative to help impoverished countries weather economic difficulties amid the coronavirus pandemic, a senior Chinese diplomat said on Sunday. Chinese Vice Foreign Minister Ma Zhaoxu announced the measure during a press conference in Beijing, where the State…