Saving to buy a home or travel overseas might feel impossible right now, as everything from rent to bread is costing us more. But financial goals aren’t just about grand plans. They can be small, achievable things, too. And experts say there’s value in having them, even when we’re just trying to keep our head…
The National Company Law Tribunal (NCLT) has dismissed IDBI Trusteeship Services’ petition seeking Corporate Insolvency Resolution Process (CIRP) proceedings against Essel Group entity Cyquator Media Services for default in payment. In its petition against Cyquator Media, IDBI Trusteeship had invoked the provisions of Section 7 Insolvency and Bankruptcy Code read with Rule 4 of Insolvency…
Recent data from the Federal Reserve reported that total household debt hit 17.05 trillion in the first quarter of 2023. If you are one of the Americans that has been impacted by growing inflation and thus increased debt, consolidating can be a good financial move. Though debt consolidation is not a cure-all and may not…
Debt relief companies, sometimes called debt settlement companies, are one option for those struggling with credit card debt, tax debt, personal loan debt, and other types of unsecured debt. These companies can help you manage certain types of debt, but they won’t be the right solution for everyone. Debt relief companies can’t help with secured…
MUMBAI : The National Company Law Tribunal dismissed an application by IDBI Trusteeship to initiate corporate insolvency resolution of Cyquator Media Services, a promoter group company of Zee Entertainment Enterprises Ltd. Financial creditor IDBI Trusteeship filed a petition under Insolvency and Bankruptcy Code (IBC) for default in repayment of 600 crore. We are of the…
Company insolvencies in England and Wales last month rose by 40 per cent year-on-year to the highest level since monthly records began in January 2019. CREDIT: This is an edited version of an article that originally appeared on Business Matters. Data from the Insolvency Service yesterday showed that 2,552 companies were declared insolvent last month,…
KUALA LUMPUR, June 26 A total of 31,140 youth aged 35 and below have been registered as bankrupts from 2014 to May 2023 based on the records of the Malaysian Department of Insolvency (MDI), said Deputy Minister in the Prime Ministers Department (Legal and Institutional Reform) Ramkarpal Singh. Concerned about the situation, the government has…
Suriname, a tiny nation ravaged by recession, inflation and impossible debts, saw its relief held up by superpower politics. It wont be the only country. Suriname, like other low- and middle-income countries, confronted untenable debts after borrowing that was encouraged by years of low interest rates. The Port of Paramaribo handles most of Surinames cargo…
June 26 (Reuters) – British cinema chain operator Cineworld Group (CINE.L) on Monday said it will file for administration as part of a proposed restructuring plan. The world’s second-largest movie theatre chain operator filed for U.S. bankruptcy protection in September, hoping to restructure its massive debt after being hit hard by the COVID-19 pandemic. The…
A popular Australian gym chain has collapsed after it was embroiled in a legal battle with three of its franchisees. Ultimate Franchising Group Pty Ltd, UFC Gym Prospect Pty Ltd and Ultimate Franchising Group Properties Pty Ltd the three parent companies behind UFC Gym Australia went into voluntary administration on May 23. The three companies…