ANYONE CAN HAVE OVERWHELMING DEBT Regardless of your income or employment status, you may have too much debt to realistically pay off with a strategy like debt snowball. If all your monthly debt payments, including housing, total more than 50% of your monthly gross income, you may need to look into debt relief, like a…
DetailsThe options open to landlords in Northern Ireland differ to those in England and Walesor in Scotland.These are addressed in our separate guides. Restrictions on forfeiture for arrears in Northern Ireland have been extended to 31 March 2021 for all commercial leases under section 83 of the Coronavirus Act 2020. Restrictions on statutory demands and…
DetailsQueensland’s three-year run as the nation’s bankruptcy capital has continued with damning new figures revealing the significant number of people facing financial distress. In the 2020 calendar year, 4458 personal bankruptcies were recorded in Queensland ahead of 4413 in NSW. Victoria – which was locked down for four months – recorded 2724 personal insolvencies. In…
DetailsThe key aspects of this new law are: Available for companies with liabilities under $A1 million. A moratorium from creditor actions (including personal guarantees) will occur following a resolution of the board/directors to appoint a Small Business Restructuring Practitioner (SBRP) to assist with the collation of a plan. Directors remain in control while they collate…
DetailsCzech Airlines insolvency petition sets out the scale of the companys financial problems, which it partly attributes to the inability to source rescue funding from the Czech government. The company has 266 creditors, with the total liability to suppliers amounting to Kc809 million ($37.1 million) as of 25 February, its petition to a Prague municipal…
DetailsThe multi-billion dollar financial empire built by Bundaberg farmer’s son Lex Greensill faces unravelling. London-based Greensill Capital, founded by Mr Greensill a decade ago, has appointed Grant Thornton to look at restructuring options as it faces the possibility of filing for insolvency, according to people familiar with the company. The financial strife came after Credit…
DetailsBy Reuters Staff 2 Min Read MILAN (Reuters) – A revamped Alitalia will start with 45 planes, have around 4,500 workers and get just over 1 billion euros ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday. FILE PHOTO: An Alitalia Airbus A320-200 passenger aircraft…
DetailsLAS VEGAS & TORONTO–(BUSINESS WIRE)–Flower One Holdings Inc. (Flower One or the Company) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a leading cannabis cultivator and producer in Nevada, today announces its intention to consummate a proposed restructuring transaction involving the convertible debentures (the March Debentures) issued by Flower One pursuant to the debenture indenture dated March…
DetailsThe past year has fractured our world in countless ways. Now, as people look to pick up the pieces, those managing debt need to account for their position in our uneven economic recovery. In this so-called K-shaped recovery, one part of the population is rebounding quickly while another has a longer, slower path. For example,…
DetailsMar 02 2021, 1:25 PMMar 02 2021, 1:25 PMMarch 02 2021, 1:25 PMMarch 02 2021, 1:25 PM Provisions of the insolvency law that protect a corporate debtor from other proceedings will also cover dishonoured cheques, the supreme court ruled, taking a view contrary to two earlier high court verdicts.Moratorium allowed under Section 14 of the…
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