13 December 2022 ANURADHA NAGARAJ and RINA CHANDRAN Chennai, IndiaThomson Reuters Foundation B Bhavani assured her father she would quit online card games – a promise she had made several times before as her family in southern India fretted about her mounting debts. A few hours later, the 29-year-old took her own life. Bhavani, who…
The founder of bankrupt cryptocurrency exchange FTX has reportedly been arrested in the Bahamas, ahead of possible extradition to the United States. Sam Bankman-Fried was arrested in the Bahamas on Monday, according to a statement being attributed to the nation’s government and widely reported by global media. The statement said Mr Bankman-Fried, whose business was…
A COMPANY WHOSE shareholder include rugby star Ronan OGara and businessman Michael OFlynn has asked the High Court to set aside an allegedly fraudulent personal insolvency arrangement made in favour of their fellow shareholder John ODriscoll. The application, which is to be opposed by ODriscoll, has been made by Ezeon Entertainment Limited, a company which…
Summary Companies Public and private debt totaled $235 trillion Swings in debt ratios due to rebound from COVID, high inflation IMF sees further drops in debt ratios in 2022 WASHINGTON, Dec 12 (Reuters) – Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the…
With the rise in popularity of wholesale liquidation companies where people can buy return pallets from Amazon and other popular stores, there are great opportunities for people looking to do business in this area. If you are one of them, youve come to the right place. This article will tell you about the best tips…
Australian Small Business and Family Enterprise Ombudsman Small businesses should have better access to debt hibernation instead of being made insolvent when they face a crisis beyond their control, so they are better able to pursue a credible restructure, save jobs and rebuild, according to the Australian Small Business and Family Enterprise Ombudsman, Bruce Billson.…
Finnair has extended the period over which it will repay a largely state-guaranteed loan, as it seeks to shore-up its financial position amid the business restructuring prompted by its exclusion from Russian airspace. The agreement relates to a 600 million ($633 million) loan from a pension fund 540 million of which was guaranteed by the…
The High Court has approved a Personal Insolvency Arrangement that will allow a Midland’s based property developer to write-off approximately 25m of debt mainly owed to financial institutions. Mr Justice Alexander Owens said he was approving the PIA that will allow 44-year-old Tony Diskin to retain his family home in Churchfields, Coosan, Athlone Co Westmeath…
Governments must take prudent measures to manage debt and their fiscal policy amid weaker global economic growth and tighter monetary policy to avoid future economic pain, the International Monetary Fund (IMF) said on Monday. Managing current high levels of debt will become increasingly difficult if the economic outlook continues to deteriorate and borrowing costs rise…
Midlands property developer Tony Diskin has secured High Court approval to escape almost 25 million in Celtic Tiger-era debts from his property development business. Mr Justice Alexander Owens granted Mr Diskin a personal insolvency arrangement a mechanism that allows individuals to escape significant bank and other debts that will see him return to solvency with…