CNN did not report that Cash App, a digital mobile payment service, declared bankruptcy in September 2023, contrary to social media posts shared online. A post on Facebook published on Sept. 7, 2023 reads, Man CNN just said Cash App went bankrupt and any funds you had in your account would have to be awarded…
DetailsThe National Company Law Tribunal (NCLT) will hear on September 26 the resolution plan for debt-ridden Reliance Capital submitted by Hinduja Group firm Indusind International Holdings Ltd (IIHL) as Torrent Investments’ plea to keep the decision in abeyance has been rejected. The Mumbai bench of the insolvency tribunal has rejected the Torrent’s plea to keep…
DetailsAs host of the G20 summit last weekend, Indian prime minister Narendra Modi was right to highlight the importance of debt relief. But he and other G20 leaders could have done more to recognise how economic reliance on fossil fuels has made debt crises worse. National debt burdens have reached catastrophic levels in over 50…
DetailsThe global debt burden retreated for the second year in a row, even though it remains above its already-high pre-pandemic level, according to the latest update of our Global Debt Database. The total debt stood at 238 percent of global gross domestic product last year, 9 percentage points higher than in 2019. In US dollar terms,…
DetailsMichael Jordan apart from being arguably the greatest ball player was also a renowned gambler. There are enough anecdotes of Jordan putting a wager everywhere including dressing rooms, golf courses, and casinos. But a recent report shed light on the extent to which Michael Jordan was involved in the sport of betting and the rather…
DetailsA vice is a vice until its not. How did gambling, once called by Walter Rauschenbusch the vice of the savage, become a glittering virtue of the American dream? Gambling, particularly for Baptists, has long been condemned. From Billy Sunday to Billy Graham, sermons against gambling poured from pulpits, especially in the South from Southern…
DetailsElaine Wilcox Owner-managed businesses often face a conundrum when looking ahead to retirement, especially around how to release any value that is held within the business. Some may be family businesses, where the second or even third generation will take over the reins and the founder will be able to step aside. However, for owners…
DetailsQIWI Provides Update on Corporate Restructuring NICOSIA, CYPRUS – September 12, 2023 – QIWI plc (NASDAQ and MOEX: QIWI) (“QIWI” or the “Company”), an innovative provider of cutting-edge payment and financial services, today announced it has received from the NASDAQ Hearing Panel the extension of the period for completion of the restructuring process until November…
DetailsAt least one lessor has rejected a bid by SpiceJet (SG, Delhi International) to settle its debts by issuing shares in lieu. India’s Economic Times reports that Aircastle has said no to a debt-for-equity swap offer from the beleaguered airline. This comes as a Delhi court threatened to jail SpiceJet’s chairman earlier this week over…
DetailsCoffee Day Enterprises Ltd, which operates the Cafe Coffee Day outlets, said that the Chennai bench of the National Company Law Appellate Tribunal has terminated the Corporate Insolvency Resolution Process (CIRP) against the company and set aside the NCLT order. In August, the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) had stayed…
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