Taking a deep dive into the outlook for global insolvencies in 2024 is Allianzs 2023 research report Global Insolvency Outlook 2023-25: From maul to ruck?, which suggests that a back to back acceleration is looming, with global insolvencies forecast to further accelerate in 2024 (up 10 percent year on year from 6 percent in 2023),…
DetailsAustrian real estate and retail group Signa Holding filed for insolvency in late November, making it the largest victim of Europes property crash to date. The company, which owns half of New Yorks Chrysler Building, almost all of Germanys biggest department stores and part of Selfridges in London, filed for administration with debts of around…
DetailsGetty Images/iStockphoto Question: I am 61, married and want to retire at 62. My husband is 63. We both can get pensions with either a monthly payment or lump sum, and we both have 401(k)s, while I also have a traditional IRA. Our portfolio is currently worth around $1.4 million, which includes the lump sum…
DetailsEY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…
DetailsThere are concerns the bankruptcy could cost Danish taxpayers some 27 million. ADVERTISEMENT The Danish company Nordic Waste has triggered a political scandal by filing for bankruptcy. The bankruptcy of the company – which deals with the reprocessing of contaminated soil – could cost taxpayers 27 million. After they post their bankruptcy filing, the Danish…
DetailsAir Belgium (KF, Brussels Charleroi) has been given another four months to reach an agreement with its creditors under its process of court-led restructuring (Procdure de Rorganisation Judiciaire – PRJ), the company said in an internal document to its employees seen by local media. When Nivelles Commercial Court near Brussels approved Air Belgiums request to…
DetailsAndrew FairIt’s about GPs not being at the selected specialty by graduates from Australian medical schools. In fact, Mel, about 30 years ago, 40 per cent of all graduates of Australian medical schools went into general practice and that was the situation when I started in medicine. But about six years ago, that number had…
DetailsTwo mountain bike manufacturers in West Yorkshire have gone into administration. Orange Mountain Bikes and P Bairstow employed more than 40 staff with administrators from BDO are working to complete a sale of the business and assets. Founded in 1988, Orange Mountain Bikes manufactures bikes and sells on to retailers, as well as directly to…
DetailsMayor Eric Adams announced that the city would invest $18 million to buy up and then erase medical debt for New Yorkers who meet certain qualifications. New York City will buy up millions of dollars of medical debt and erase it in a program that officials hope will ultimately help as many as 500,000 New…
DetailsUnderstanding Debt Consolidation The basic idea behind debt consolidation is that a borrower can combine multiple debts into one payment. The strategy can help to both simplify their monthly finances and make it easier to understand how debt repayment fits into their budget. Most debt consolidation loans have a fixed interest rate, which means a…
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