SEPANG, Malaysia, 8 October 2020 AirAsia announced this week a restructuring plan that will inject fresh equity to allow the airline to resume operations. AirAsia X also appointed Dato Lim Kian Onn as the deputy chairman to lead the airlines restructuring. A chartered accountant and investment banker, her has served as a board member of…
A student loan debt-relief company has been ordered to pay more than $146,000 as a result of a court judgment against its unlawful and predatory business practices, Attorney General Maura Healey said Wednesday. The judgment was entered in Suffolk Superior Court against Student Loan Relief Inc. and Student Loan Relief of Texas Inc. collectively SLR…
A JURY today found veteran Rockhampton solicitor Douglas John Winning guilty of official corruption. The 67-year-old was subsequently sentenced in Rockhampton District Court to nine months’ jail, wholly suspended for 18 months. Mr Winning had pleaded not guilty to the charge which stemmed from allegations he tried to bribe two police officers after he was…
To build back better, we must make sure economic recovery plans also foster resilience to climate change. Debt-for-climate swaps could offer countries debt relief in exchange for a specific commitment to environmental goals. Debt swaps need to free up resources, so payments to climate objectives should be lower than original debt service payments. Due to…
Ruby Tuesday’s decline was several years in the making, becoming even more rapid during the pandemic and prompting speculations from industry insiders about the growing likelihood of a bankruptcy. Back in April, it was reported that the company had closed about 30% of its 470 locations permanently. Closures continued into the summer, some taking place…
As the UK enters its autumn months as COVID-19 restrictions are implemented across the world, GamCare has urged its treatment support and broader partners to raise more awareness of gambling-related financial harm (GRFH). GamCare estimates year-on-year that about 70 percentof callers to its National Gambling Helpline would respond to a degree of gambling debt or…
THE financially troubled Air Namibia is opposing a High Court application in which a Belgian lawyer wants the national airline to be declared bankrupt and liquidated. The airline has given notice that it will be opposing an application for its liquidation, which was filed at the High Court late last week. In the application, Belgian…
Lenders will no longer be allowed to send out thuggish debt recovery letters under new rules proposed by the Treasury following a campaign by TV money pundit Martin Lewis. The Treasury said the use of legalistic language and block capitals in default notices will be restricted and that the letters will have to be easier…
Recent statistics on the number of consumers who have fallen behind on their debt repayments for vehicles and homes make for difficult reading. It is now estimated that the number of vehicle and home loan accounts that will fall into arrears will reach unprecedented heights. Take our personal finance survey below and you could win…
Mr Morrison said 90 per cent of the $98 billion in new measures announced on Tuesday, including a $27.6 billion business investment allowance, would be spent within two years. Sources told The Australian Financial Review that focus group research undertaken on budget night by the Coalition indicated broad support for the budget among swing voters,…