Officials said that 10 million borrowers could see debt relief of at least $5,000. The plan, set to be announced in Wisconsin, could help rally support among young voters. President Biden on Monday plans to announce a large-scale effort to help pay off student loans for tens of millions of American borrowers in Wisconsin, seeking…
DetailsCNN Shanghai-based property giant Shimao Group said on Monday that it had received a liquidation petition from a Chinese state-owned bank in yet another instance of creditors taking legal action to reclaim money from troubled developers in the worlds second-largest economy. A winding-up petition was filed against the company by China Construction Bank (Asia) on…
DetailsChinese property developer, Shimao Group is facing a legal challenge as China Construction Bank (Asia) filed a liquidation petition against it in Hong Kong over a financial obligation amounting to HK$1,579.5 million, equivalent to $201.75 million. This move marks a departure from the norm, as it is unusual for a state-owned bank to initiate legal…
DetailsBruno Mars, the renowned singer-songwriter might be facing some trouble with MGM Resorts International, a major player in the hospitality industry. Bruno Mars allegedly owns $50 Million debt to MGM; Reports Back in 2016, Bruno Mars entered into a multi-year residency agreement with MGM, slated to perform regularly at the Park MGM resort in Las Vegas.…
DetailsThe indexation of student debt is arguably the federal governments biggest political problem when it comes to universities. Last June, student debt balances increased by 7.1%, the highest rate in decades. While HELP loans do not attract interest, they are indexed to inflation as measured by the Consumer Price Index (CPI). When inflation remained low,…
DetailsBlack Hops Brewing is the latest in a series of breweries to enter voluntary administration, advising that the Black Hops Board had no alternative but to place the business into voluntary administration due to its current circumstances. Deloitte Turnaround & Restructuring partners David Mansfield and Tim Heenan have been appointed voluntary administrators of the operations…
DetailsJames Anderson, Turnaround & Restructuring Partner at Deloitte Ireland. 214 corporate insolvencies have been recorded in Ireland in Q1 2024, an increase of 47% compared with Q1 2023, when 146 insolvencies were recorded. The increase, according to the latest Insolvency & Restructuring Statistics compiled and published by Deloitte Ireland, has been primarily driven by Creditors…
DetailsOne of Victorias longest-running and most respected multi-arts festivals, the biennial Castlemaine State Festival, has entered into voluntary administration. The news was announced in an email from the Festival Board, sent just before 5pm last Thursday 28 March, at a time when many people were already switching off their computers and leaving work in preparation…
DetailsApr 7, 2024 1.31pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Healthscopes lenders have appointed McGrathNicol to help restructure about $1.6 billion in debt they refinanced for the hospital operator just one year ago. McGrathNicol and fellow restructuring specialist Houlihan…
DetailsThe Amaravti bench of National Company Law Tribunal (NCLT) admitted insolvency petition filed against BGR Energy Systems Ltd. The petition was filed by the companys operational creditor RDC Concrete India Private Ltd. In a stock exchange announcement, the BGR said RDC Concrete India Private Ltd claimed a default of around 7.20 crore and the NCLT…
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