Tucked into the U.S. debt ceiling and government spending legislation signed into law by President Joe Biden last week is a guarantee student loan borrowers will have to restart paying down their debt this fall with no chance for an extension on that payment freeze. Thats despite Bidens pledge to wipe away or reduce that…
The American Hospital Association points to two health insurance trends as drivers of increased medical debt. Those drivers are inadequate healthcare coverage and high-deductible health plans that “intentionally push more costs onto patients,” according to a June 12 news release. “While every hospital has a financial assistance policy to help those most in need, they…
HMRC seems to be on a hot streak with its recent successful challenges to small to medium enterprises (SME) restructuring plans with the recent decisions in Re Nasmyth Group Ltd [2023] EWHC 988 (Ch) (“Nasmyth”) and Re Great Annual Savings Company Ltd [2023] EWHC 1141 (Ch) (GAS). In this article, we consider the questions: are…
Medical debt has reached epic proportions, impacting the financial security of more than 100 million Americans. According to the Consumer Financial Protection Bureau, about 111 million credit lines included medical debt in 2021, with a total debt balance of $88 billion nationwide. Now a new report from the Los Angeles County Department of Public Health…
A personal insolvency arrangement (PIA) which allows a Co Galway-based electrical contractor to write off approximately 2.7 million in debt owed to financial institutions has been approved by the High Court. Mr Justice Alexander Owens, who approved the PIA in respect of Thomas Fahy on Monday, described the arrangement as being “a good bit of…
12/06/2023 15:00 Nikki van Toorn The number of corporate bankruptcies, adjusted for court session days, has increased. There were 16 more bankruptcies in May than in the previous month, according to Statistics Netherlands (CBS). This is an increase of 7 percent. The number of bankruptcies remained below the pre-pandemic level. In the first five months…
Emmanuel Macron has been accused of pushing through the stealth nationalisation of a French private nursing home business by a group of American hedge funds. Paris-listed Orpea, which has been gripped by scandals including allegations that elderly residents were blocked access to adult nappies and food, is set to be seized by the French state…
The National Company Law Tribunal (NCLT) on Thursday granted two weeks to aircraft leasing company Aircastle (Ireland) to file a reply to Spicejet‘s application questioning the maintainability of the insolvency petition filed by the lessor.Aircastle (Ireland) had filed a petition under section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to start the corporate…
The National Company Law Tribunal, in the petition filed by aircraft lessor Wilmington Trust SP Services (Dublin) Ltd for initiating the corporate insolvency resolution process, adjourned the matter on Monday. The matter is likely to be listed on July 16. This is the third case filed by the company against the airline. Two other cases…
A personal insolvency arrangement which allows a Co. Galway-based electrical contractor to write off approximately 2.7m in debt owed to financial institutions has been approved by the High Court. Mr Justice Alexander Owens, who approved the PIA in respect of Thomas Fahy on Monday, described the arrangement as being “a good bit of business”. Under…