To further strengthen the insolvency law regime, the government on Wednesday proposed a raft of changes, including fast-tracking the process, expanding the scope of the pre-packaged framework and developing an electronic platform with minimal human interface. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution…
DetailsA man was left more than 80,000 in debt after being “sucked in” by “ridiculous” gambling websites. Rob, who has asked for his surname not to be used, is now issuing a stark warning to others, at a time when so many are experiencing money worries. The Liverpool FC fan now wants to help others,…
DetailsMazeras Bridge of the Mombasa-Nairobi standard gauge railway in Kenya, May 12, 2017. [Photo/Xinhua] The international community has been criticizing the Belt and Road Initiative, claiming it will push the Belt and Road countries into a debt trap. Yet there has been no substantive research confirming the claim is true. Such criticisms are mostly part…
DetailsThe simplified debt restructuring process was largely successful although the number of companies involved was small. By Keeli Cambourne19 January 20231 minute read ASIC has outlined its findings on all the small business restructuring practitioner appointments for the 18-month period to 30 June 2022 in the first assessment of the scheme. Already have an account?…
DetailsThe government will clear the HELP debt for those who spend four years teaching in a very remote location at a primary or secondary school, day care centre or preschool. It is expected to save teachers an average of $35,000. Eligible teachers will have waived either the debt of their initial teaching degree or whatever…
DetailsEstate planning is the process of structuring ones assets during ones lifetime to ensure that they are preserved and legally protected and that, in the event of death, those assets are transferred expediently and intentionally to successive generations. Its a serious exercise that everyone with assets should undertake although, sadly, many people fail to do…
DetailsSummary Companies Zambia received WWF plan offering conservation for debt relief Vast national parks are home to threatened wildlife Debt talks remain stalled over how much relief country requires LONDON, Jan 18 (Reuters) – Zambia received a “debt-for-nature swap” proposal as part of its $13 billion restructuring discussions, a move that while complex to secure…
DetailsLaw firm Sullivan & Cromwell contradicted itself when it stated that shuttered crypto exchange FTX US is insolvent, former CEO Sam Bankman-Fried claimed in a Jan. 17 blog post that was shared on Twitter. The law firm was hired by FTX Group to handle the bankruptcy proceedings of several of its subsidiaries, including FTX International,…
DetailsLaw firm Sullivan & Cromwell contradicted itself when it stated that shuttered crypto exchange FTX US is insolvent, former CEO Sam Bankman-Fried claimed in a Jan. 17 blog post that was shared on Twitter. FTX US is solvent, as it always as been.https://t.co/XjcyYFsoU0 pic.twitter.com/kn9Wm9wxjl SBF (@SBF_FTX) January 18, 2023 The law firm was hired by…
DetailsIt’san ambitious project that was destined to be difficult. The mission:To turn the blistering heat of the Northern Territory into a solar energy powerhouse supplying electricity to Singapore and Darwin. The method: By building a giant 20-gigawatt solar farm supportedby the world’s biggest battery network that connects to Darwin, before continuing to Singapore via a…
Details