President Joe Biden is trying to provide more student relief to four specific groups of borrowers by, in some cases, expanding existing mechanisms for forgiveness and discharges. The White House and the Department of Education released draft regulatory language for debt relief using the rulemaking process under the Higher Education Act on Monday. This includes…
DetailsA canning line at Deep Creek brewery in Auckland a few years ago, when the company was focused on expanding the brewery with its beers headed for national distribution in Australia. Another homegrown brewer has found itself in financial trouble after a horror few months for the sector. Deep Creek described itself as a company…
DetailsThe Biden-Harris Administration today continued its critical efforts to deliver student debt relief to as many borrowers as possible through negotiated rulemaking under the Higher Education Act by releasing draft regulatory text for specific categories of borrowers and outlining next steps to consider relief options for borrowers experiencing hardship. Forgiveness delivered to borrowers through negotiated…
DetailsSmall businesses will witness more action from the ATO over outstanding lodgements and debt collection as it targets the $50.2 billion in collectable debt owed by the sector, according to a specialist in business restructuring and corporate insolvency at PwC. Chris Sequeira said the ATO was adopting a stricter stance with tax debts after its…
DetailsNo one sets out in business expecting the company to become insolvent. However, in an increasingly challenging trading environment, many companies will unfortunately experience issues with cash flow, increased costs of doing business, and changing consumer preferences, all of which have the potential to threaten the ongoing viability of the business. If the situation continues,…
DetailsAbu Dhabi, UAE: His Excellency Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, chaired a meeting of experts from the Consultative Industry Group (CIG) Financial Reorganization Committee. The meeting included a number of specialists in bankruptcy and financial restructuring from global and local offices and companies. He praised the role of experts in…
DetailsAchieve Resolution’s team of experts negotiates with creditors to help members settle unsecured debts for less than they owe SAN MATEO, Calif., Oct. 30, 2023 /PRNewswire/ — Against a backdrop of Americans shouldering the burden of a record $1 trillion in credit card debt, Achieve, the leader in digital personal finance, announces the launch of Achieve Resolution,…
DetailsWeWork creditors are battling over the remains of a company once valued at over $40 bil Creditors of defaulting shared office provider WeWork are now fighting over control of the company as it enters restructuring, with that story leading Mingtiandis headline roundup today. Also making the cut is a final adjournment of China Evergrandes liquidation…
DetailsOne of Chinas largest-ever debt restructurings is in trouble before it even got going. China Evergrande Group was declared to be in default in late 2021, the highest-profile casualty of a broader crisis in the countrys property development industry. The government has stepped in to manage the overhaul, quelling fears of a disorderly collapse that…
DetailsAdvertisement Almost a quarter of Brits will have to go into debt to fund their Christmas shopping this year as the cost of living bites, a new survey has revealed. The Cost of Christmas survey of over 2,000 people, by personal insolvency provider, Creditfix, revealed what their spending habits will look like this Christmas. –…
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