Corporate insolvencies in England and Wales are now at their highest level since 2009. The rise in insolvencies follows the end to the Governments Covid-19 support schemes, the buildup of debt post-pandemic, unprecedented inflation and interest rate increases. More frequently than ever, questions are being raised as to what happens if a company is suffering…
WASHINGTON, D.C. The Consumer Financial Protection Bureau (CFPB) and seven state attorneys general sued Strategic Financial Solutions (SFS) and its web of shell companies for running an illegal debt-relief enterprise. The CFPB and state attorneys general also sued the chief architects of the illegal enterprise, Ryan Sasson and Jason Blust. The CFPB and attorneys general…
The last few months have been challenging for startups and scaleups, and this month, Berlin impact startup SIRPLUS filed for insolvency- German startup SIRPLUS was founded in 2017. It brings excess food back into the retail cycle by selling it through subscription boxes, including food rejected by supermarkets due to size, colour or overproduction. Through…
By Christian Moess Laursen Tata Steel said it expects up to 2,800 employees will be affected by a restructuring of its U.K. business as it seeks to reverse more than a decade of losses and transition to a sustainable steel business from the legacy blast furnaces. The Indian multinational steel-making company said Friday that around…
Tata Steel Ltd. has announced the restructuring of its UK business and has initiated statutory consultations for the same. Under this restructuring exercise, up to 2,800 employees are expected to be potentially affected, out of which, 2,500 roles will be impacted in the next 18 months. The remaining 300 roles could be impacted in three…
Topline The Biden administration announced Friday its canceling approximately $5 billion in student debt relief, largely for public servants, the latest incremental step the White House has taken on student loan forgiveness, even though its more ambitious student loan relief program was thwarted by the Supreme Court. Key Facts The administration approved debt relief for…
The creditors of Chilean salmon farmer Nova Austral have approved a restructuring plan aimed at preventing liquidation of the company, according to local media reports. On Jan.17, all parties reached an agreement to restructure the company’s debt and transfer ownership of the company to its main creditors. The two largest creditors are bondholders, a group…
The White House Today, my Administration approved debt cancellation for another 74,000 student loan borrowers across the country, bringing the total number of people who have gotten their debt cancelled under my Administration to over 3.7 million Americans through various actions. Of the 74,000 borrowers approved for relief today, nearly 44,000 of them are teachers,…
The creditors of Chilean salmon farmer Nova Austral have approved a restructuring plan aimed at preventing liquidation of the company, according to local media reports. On Jan.17, all parties reached an agreement to restructure the company’s debt and transfer ownership of the company to its main creditors. The two largest creditors are bondholders, a group…
The creditors of Chilean salmon farmer Nova Austral have approved a restructuring plan aimed at preventing liquidation of the company, according to local media reports. On Jan.17, all parties reached an agreement to restructure the company’s debt and transfer ownership of the company to its main creditors. The two largest creditors are bondholders, a group…