On May 20, the CFPB settled an enforcement action against a California-based telemarketing firm for practices related to student loan debt relief services. The Bureau has ordered the firm to permanently halt operations and pay a $400,000 civil money penalty, in addition to ordering the recission of all the firms existing contracts with consumers. The Bureaus investigation…
Small borrowers with annual income up to 60,000 are likely to get automatic relief for any unsecured loans they are unable to repay, according to a new scheme for personal insolvency resolution that the government has prepared. The new scheme that will replace colonial era laws dealing with personal bankruptcy will also give breathing space…
Mumbai: The National Company Law Tribunal (NCLT) has admitted Srei Infrastructure Finance‘s petition to initiate a corporate insolvency resolution process (CIRP) against Supreme Infrastructure BOT after it defaulted on the repayment of a loan.Srei Infrastructure Finance had granted a term loan of Rs 150 crore to Supreme Infrastructure BOT for a period of five years.…
Fragbite CEO Marcus Teilman has resigned to “pursue new challenges” one day after the publisher declared Alara Prime developer Fall Damage bankrupt. The Swedish video game and esports company has named chairman Stefan Tengvall as interim CEO. Tengvall will step down as chairman of the board as a result but will remain a board member.…
The corporate Insolvency Resolution Process (CIRP) against JIL was started in August 2017 over an application by an IDBI Bank-led consortium. Photo: Wikimedia Commons 4 min read Last Updated : May 24 2024 | 8:48 PM IST Insolvency appellate tribunal NCLAT on Friday upheld Suraksha Realty’s bid to acquire debt-ridden Jaypee Infratech but asked it…
MGM Resorts came to Bruno Mars defense on Monday after rumors circulated about the Grammy winners debt with the casino. In the last week, a report from NewsNation made claims that Mars had racked up over $50 million in gambling debt at MGM. They cited an anonymous source close to the situation that said Mars allegedly…
The board of directors of Fragbite Group has declared bankruptcy for its subsidiary Fall Damage Studio. According to the company in a release, the bankruptcy became unavoidable after the Swedish development team was unable to pen an agreement with a publisher for its ALARA Prime PC game which led to an unsustainable financial situation”. As a…
US President Joe Biden welcomed Kenyan President William Ruto to the White House on Thursday for a state visit, pledging new partnerships on technology, security and debt relief to the leader of one of Africas strongest democracies. Biden also expressed deep appreciation to Ruto for the coming deployment of Kenyan police forces to help quell…
High-end Australian fashion label Dion Lee, which has dressed celebrities like Taylor Swift and Dua Lipa, has been placed into voluntary administration. The fashion brand has six stores in Australia and one in the United States. Administrator Antony Resnick from the insolvency firm dVT Group has taken control of the business. Read the full article…
High-end Australian fashion label Dion Lee, which has dressed celebrities like Taylor Swift and Dua Lipa, has been placed into voluntary administration. The fashion brand has six stores in Australia and one in the United States. Administrator Antony Resnick from the insolvency firm dVT Group has taken control of the business. Read the full article…