Victorias former minister Danny Pearson rejected advice on how the government could expand its state-backed home building insurance scheme to protect consumers whose builders abandon their projects but arent declared insolvent. Documents released under freedom of information and obtained by The Age reveal that last July, then-housing minister Pearson asked for advice from state bureaucrats…
DetailsThe finances of about 40 million Americans with college loans are hanging in the balance as borrowers await the Supreme Court’s ruling on the legality of President Biden’s plan to forgive up to $20,000 in student debt. Borrowers could face a double whammy this summer if the Supreme Court rules against the debt-forgiveness plan, as…
DetailsAmple Hills, the Brooklyn-based ice cream chain that went from beloved to bankrupt in a little over a decade, will reopen under its original owners this week. The ice cream shop declared bankruptcy last year with 14 locations in New York City, including a giant Red Hook production facility that cost nearly $7 million to…
DetailsOpinion In a high inflation world, if you have the capacity and the desire to help a relative repay student debt early, it will likely help grow overall family wealth. Tim MackayContributor Jun 20, 2023 5.00am With continual low inflation in recent decades, student debt hasnt been a big planning issue. However, since inflation surged…
DetailsMore than 1,000 people had to be helped with debt in 2022, the majority them with mortgage arrears, according to the Insolvency Service of Ireland (ISI). It also confirmed 105 people were adjudicated bankrupt during the year. Of the 1,151 Protective Certificates that were issued, 90% were for Personal Insolvency Arrangements (PIA), the solution that…
DetailsNetworking News Gina Narcisi June 20, 2023, 09:00 AM EDT Having gotten this financial restructuring completely behind us with extraordinary results where we now have a genuine financial strength so that we can focus completely on business strategy and business realignment thats the fun part, Avayas CEO Alan Masarek tells CRN. Avaya Ready To Re-ENGAGE…
DetailsJakarta. The government expressed confidence on Tuesday that will meet the target for the debt relief program despite a slow start in the first half of the year. Indonesia has launched a debt relief program to slash outstanding state receivables. The debt relief targets students and hospital patients, among others. Under this program, students and…
DetailsMember Article R3 responds to May 2023 insolvency stats Corporate insolvencies increased by 51.2% in May 2023 to a total of 2,552 compared to Aprils total of 1,688, and increased by 39.8% compared to May 2022s figure of 1,825. o Corporate insolvencies increased by 151.9% from May 2021s total of 1,013 and by 170.3% from…
DetailsPoor countries hit by climate disaster should not be forced to struggle with crippling debt payments, the head of the International Monetary Fund has urged before a global summit on climate finance. Kristalina Georgieva, managing director of the IMF, said providing debt relief to countries suffering from extreme weather was a matter of urgency. Extreme…
DetailsEleanor Temple, chair of the UKs insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds Corporate insolvencies increased by 51.2% in May 2023 to a total of 2,552 compared to Aprils total of 1,688, and increased by 39.8% compared to May 2022s figure of 1,825. Corporate insolvencies increased…
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