By Morey Stettner Financial advisers can’t work magic, but they can provide perspective and emotional support The challenges people face when coming into sudden wealth are often spoken about. Receiving a cash windfall — from an inheritance or a lottery jackpot, for instance, can upend someone’s life in unexpected ways. People who experience a sudden…
A large Burger King operator declared bankruptcy, blaming the pandemic and inflation. / Photograph: Shutterstock. TOMS King Holdings, a 90-unit Burger King operator with locations in four states, declared bankruptcy this week, blaming the pandemic and subsequent inflation challenges for draining its cash flow and making it unable to pay its debt. The company is…
Jarrod Sierocki. Liquidator turned investigator Brendan Nixon. When you attribute some of the blame for the failure of your insolvency firm to measures imposed to curtail COVIDs spread, it shows a certain chutzpah to then utilise a key pandemic abatement feature in spruiking your new shop. So when an anonymous tipster advised iNO that Queensland-based…
The administration began its effort to save President Biden’s student loan forgiveness program before the Supreme Court on Wednesday, submitting an opening brief addressing challenges to the program. The late-night filing from the Justice Department argued those who have sued the administration over the program lack standing to do so. The filing further argues that…
“The global Corporate Insolvency Service Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Corporate Insolvency Service Market. For…
In an update published yesterday (4 Jan), the lifeboat fund said that its investigations into Rowanmoor are continuing. “As well as the information from former customers of the firm, weare also gathering data and information from RPPL’s insolvency practitioners about the firm’s business. We are using this to consider the allegations made by former customers…
(Bloomberg) — Helen of Troy Ltd., the retail conglomerate behind consumer and wellness brands like OXO, Osprey and Vicks, will slash about 10% of its global staff in a restructuring. The company announced the cuts along with fiscal third-quarter earnings on Thursday. As part of the changes, the Beauty business will be combined with the…
By Morey Stettner Financial advisers can’t work magic, but they can provide perspective and emotional support The challenges people face when coming into sudden wealth are often spoken about. Receiving a cash windfall — from an inheritance or a lottery jackpot, for instance, can upend someone’s life in unexpected ways. People who experience a sudden…
BY Richard Summerfield Following its collapse in late 2021, GTT Communications has finally exited its Chapter 11 bankruptcy and restructuring processes, having removed $2.8bn from its debt pile and brought in new investors. The company, which filed for Chapter 11 bankruptcy in October 2021, has agreed a deal with key creditors to amend its reorganisation…
posted by Jason Kilborn The list of countries with new personal insolvency laws continues to grow. Bloomberg noted today that the President of Kazakhstan had signed a new law setting out several procedures for relieving the debts of non-entrepreneur individuals (sole proprietors remain relegated to the existing law on rehabilitation and bankruptcy). The text of…