Mayor Lightfoot Launches Administrative Debt Relief Pilot Program … – chicago.gov

CHICAGO Today, Mayor Lori E. Lightfoot and City Comptroller Reshma Soni launched the 2023 Administrative Debt Relief (ADR) Pilot Program. Available immediately, the program provides a course for Chicagoans mired in debt stemming from Administrative Hearing violations some of which disproportionately impact low-income communities and are associated with higher fees than other municipal debt. “Like…

ICR Expands Special Situations Group With Experts in Bankruptcy … – Business Wire

NEW YORK–(BUSINESS WIRE)–ICR, a leading strategic communications and advisory firm, today announced that it has hired senior industry veterans Lee Pacchia, Esq. and Joan Vollero as Managing Directors in its Special Situations Practice Group. They will join a growing team of communications advisors, where Mr. Pacchia will focus on bankruptcy and corporate restructuring and Ms.…

Lawrence Stroll Called His Partner Bankrupt To Avoid Giving $190 Million In Damages – The Sportsrush

Lawrence Stroll has come out as a devious personality ever since his takeover of the Aston Martin Lagonda. The chaos surrounding Aston Martins ever-declining share prices and its fight with a partner company over their expansive project called the Valkyrie has brought the company nothing but suspicious eyes. The story of Aston Martins Valkyrie project…

Levittown man allegedly paid off $120,000 gambling debt by stealing from his employer, prosecutors say – PhillyVoice.com

A former supervisor at Radwell International allegedly stole more than $866,000 in specialized goods made by the South Jersey manufacturing firm and sold them independently, Burlington County prosecutors said. Brian Myslinski, 31, of Levittown, Bucks County,allegedly used the money to pay off more than $120,000 in gambling debt and to purchase a vintage 1974 Dodge…

NCLT admits Union Bank’s insolvency plea against Rolta – Economic Times

A bankruptcy court on Thursday admitted military-focussed software developer Rolta India for the corporate insolvency resolution process (CIRP), allowing a petition filed by state-owned Union Bank of India. The Mumbai Bench of the National Company Law Tribunal (NCLT) appointed Mamta Binani as the interim resolution professional for the listed firm. Union Bank had approached the…

UPDATE 1-Davos 2023: World Bank: Zambia needs ‘desperate’ debt relief under challenging Common Framework – Yahoo Finance

(Updates with comments, context) By Jorgelina do Rosario and Yoruk Bahceli Jan 19 (Reuters) – Zambia needs “desperate debt relief” and agreements under a Group of 20 restructuring vehicle are proving difficult, the World Bank’s managing director of operations said on Thursday. “In the last two years, we have seen the limitations of the common…