VIENNA, Dec 4 (Reuters) – Property tycoon Rene Benko’s Signa Holding filed for insolvency in Vienna last week, the biggest such case Austria has seen and the largest victim to date of Europe’s property crash. Benko, 46, built the complex constellation of companies headed by Signa Holding from the ground up, starting from humble origins…
Detailscouncil tax bill Local authorities are at risk of bankruptcy if funding from the Scottish government is not improved, council leaders have said. Cosla issued the warning in a briefing paper ahead of the Scottish budget on 19 December. The local government body said councils need nearly 14.4bn in the budget just to “stand still”.…
DetailsDebtManagers says about 900,000 New Zealanders are currently struggling with debt. Photo: 123RF A debt management firm says an ongoing failure to deal with bad debt is costing the economy more than $2 billion a year. DebtManagers buys non-performing debts from businesses and works directly with debtors to recover the debt, by stopping fees and…
DetailsKey takeaways Using a debt consolidation loan to combine your existing debt can help you streamline your monthly payments and save on interest. Other debt relief strategies like debt settlement and bankruptcy should only be used as a last resort since they can cause serious harm to your credit profile. A credit counselor can create…
DetailsPresident Joe Biden.Kevin Dietsch via Getty Images
The Education Department released new details on its second attempt at debt relief. It’s considering five groups of borrowers to be prioritized for relief, like those with balances greater than what they started with. Some borrowers could get up to $20,000 in relief, per the proposed text. President Joe Biden’s next plan for getting student-loan…
DetailsThe Biden-Harris Administration today took another step in its continued efforts to provide financial relief to significant numbers of student loan borrowers with the release of an updated copy of proposed regulatory text. The proposals build on the Biden-Harris Administrations actions to date to provide student loan borrowers with much-needed breathing room. Already the Administration…
DetailsThe government has firmed up a plan to remove the bar on personal guarantors to transfer or dispose of their assets under the insolvency resolution process, according to an official source. This is despite the Supreme Court upholding the constitutionality of the moratorium.The move by the ministry of corporate affairs (MCA) is aimed at ensuring…
DetailsFamily Photo A woman whose daughter took her own life after running up gambling debts has called for women’s football not to take money from the betting industry. In an open letter to the FA’s Women’s Super League, Kay Wadsworth, from Cleckheaton, said it should not “go the same way” as the men’s game. Mrs…
Details(Alliance News) – The Barclay family has repaid the nearly GBP1.2 billion that it owed to Lloyds Banking Group PLC, opening up its chance to transfer control of the Telegraph newspaper to an Abu Dhabi-backed fund. Lloyds confirmed that it had received the money on Monday, after seizing control of Telegraph Media Group in June…
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