Mercer County Community College is putting federal money directly into the hands of its students by way of reducing and eliminating debt. And its not waiting around to do so. The school announced that, over the past 16 months, it has forgiven nearly $5 million in qualified balances such as tuition, fees and other costs…
The Ministry of Corporate Affairs (MCA) is working to issue a code of conduct for creditors under the Insolvency and Bankruptcy Code (IBC), said MCA Secretary Rajesh Verma on Friday. This comes a month after a Parliamentary panel flagged the disproportionately large and unsustainable haircuts taken by the financial creditors over the years. In some…
At Les Ambassadeurs Club, Yu Songbo acquired gambling chips with cheques that then bounced L ondon casino Les Ambassadeurs Club in Park Lane, Mayfair is taking Yu Songbo, a multi-millionaire property developer, to court after he cashed cheques for gambling chips which then bounced, to the High Court to recover the money he owes. The…
If you’re having trouble with credit card debt, consolidation could be the way out. Since credit cards tend to have high interest rates, getting rid of credit card debt can be expensive. A popular way to pay it off more efficiently is debt consolidation. Here are the two most common ways to consolidate credit card…
The corporate affairs ministry is working with the finance ministry, Reserve Bank of India and the Indian Banks’ Association (IBA) on the issue of the conduct of the committee of creditors under the insolvency resolution process, a senior official said on Friday. The role of Committee of Creditors (CoC) is crucial in deciding a resolution…
With the implementation of the insolvency law, the days of feudalism of corporate debtors where they had considered it their divine right to be in control are gone, Chief Economic Adviser K V Subramanian said on Friday. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound…
Lee John Palmer (41), a plumber from Knapton, was declared bankrupt on 28 January 2021 before the Official Receiver was appointed as Trustee. While reviewing Lee Palmers assets, the Official Receiver uncovered that Lee Palmer had bought a van on hire purchase but sold the vehicle without the permission of the hire purchase finance company.…
West Australian buildingcompany Jaxon Construction is entering liquidation, with operations within the group ceasing. Key points: The liquidator says it’s assessing six entities in the group The union says builders are taking contracts with too low margins It follows the recent collapse of another major builder Pindan The move affectsfour sites in Western Australia. Alarm…
GLENN JEFFREY/Stuff Quinn Lewis Moore robbed the Big Barrel liquor store in Waiwhakaiho, New Plymouth, on December 27. On his way home after losing a large quantity of money on the pokie machines, a meth-addicted man with a $2000 drug debt to pay stopped at a Taranaki liquor store and robbed it at knifepoint. With…
Thursday, August 26, 2021 Opening the door for the SME market, Sir Alistair Norris has sanctioned the first ever restructuring plan for a mid-market company. The plan sanctioned in Amicus Finance PLC (in administration) is also the first restructuring plan proposed by insolvency practitioners and the first to cram down a secured creditor. The sanction…