Vice Media Group has officially declared bankruptcy. The youth-focused digital publisher, long known for its brash and edgy content, has US$834 million in debt obligations, according to The Hollywood Reporter. Frank A. Pometti, a consultant hired as the chief restructuring officer of Vice Media, wrote in a declaration filing: Like many other growth companies in…
At least seven companies declared bankruptcy in the last 48 hours, a reported 15-year record. Among the firms seeking Chapter 11 protection were digital media group Vice Media and as reported here Monday (May 15) private equity-backed healthcare firm Envision. According to a Bloomberg News report, this was the largest number of bankruptcy filings recorded…
The recent sanction judgment gives important guidance on the way in which the court’s discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own . Key takeaways from the judgment No worse off test: expert evidence An opposing party is…
HONG KONG, May 18 (Reuters) – A shrinking land bank and sluggish property demand are likely to hamper the plans of a growing number of private Chinese developers who have defaulted on their debt and are restructuring it to win breathing room to revive their fortunes. Those hurdles could hinder the drastic improvements in sales…
Australians with higher education Help loans will be able to earn slightly more before they start making repayments as inflation drives up student debts to new highs. The federal government lodged the official Help repayment thresholds for the 2023-2024 financial year on Thursday, which confirmed the minimum repayment threshold has been increased. Graduates earning $51,550…
Debt relief companies are for-profit institutions that help you manage and pay down your debts. Depending on the company and what services are offered, they may work with creditors to help you get out of debt for less than what you originally owed. Most relief companies charge a hefty fee for their services. However, just…
The term debt relief describes a range of ways you can get out of debt with the help of a third party. Some debt relief companies offer debt settlement services, whereas others focus on offering debt management plans (DMPs), credit counseling or other alternatives. There are also debt consolidation products you can use to work…