Alice McCall emerged from voluntary administration on December 11 through a deed of company arrangement (DOCA), SV Partners administrator Ian Purchas has revealed toRagtrader. According to Purchas, Alice McCall owed $2.3 million to its largest related-party creditor – the title holder of the intellectual property – $5 million to ordinary unsecured creditors, $130,000 to redundant…
DetailsEquinox Holdings Inc. got relief on some of its debts tied to the luxury fitness chains SoulCycle subsidiary after agreeing to pay down a portion of the borrowings, according to people with knowledge of the matter. Equinox, backed by billionaire Stephen Rosss Related Cos., reached a deal that releases it from a limited guarantee of…
DetailsFollowing President Bidens lead, the chairman of the House Agriculture Committee proposed an extension until Sept. 30 of the temporary 15% increase in SNAP benefits on Tuesday. ChairmanDavid Scottalso included a sweeping proposal for the government to pay off USDA loans and USDA-guaranteed loans held by socially disadvantaged farmers to put our Black farmers in…
DetailsThe High Court has declined to approve a Personal Insolvency Arrangement (PIA) that would have allowed a car sales executive to write off approximately190,000 in debt mainly owed to financial institutions. The PIA was sought in respect of Keith Cremin of Subulter, Cecilstown, Mallow, in County Cork. He owed money to Pepper Finance Corporation DAC,…
DetailsGreenwise Debt Relief is not one of our top-rated life debt relief companies. You can review our list of the best debt relief companies for what we think are better options. Countrywide Debt Relief grants potential customers a free consultation where they can learn about their debt relief options, which include a process known as…
DetailsText size Whats left of Yahoo! after a sale of its online businesses to Verizon Communications is a company called Altaba. David Paul Morris/Getty Images Altaba has made two significant distributions to its shareholders under its liquidation plan. Now, the company, formerly Yahoo!, is expected to ask a Delaware court for authority to make another…
DetailsUnder Armour delivered a stronger-than-expected financial performance in the final months of 2020 as the atheltic apparel maker boosted online sales of apparel and footwear and reined in costs. The Baltimore-based sports brand improved despite challenges of the coronavirus pandemic and an ongoing business restructuring, the company said Wednesday. Advertisement Improving brand strength and consistent…
DetailsWhat is the Small Business Restructuring Process (SBR)?On 1 January 2021 some of the most significant changes to insolvency law in three decades were introduced following amendments to the Corporations Act. The new laws allow small businesses the flexibility to restructure their debts whilst allowing directors to remain in control of the business. The new…
DetailsThe President of the African Development Bank (www.AfDB.org), Dr. Akinwumi A. Adesina, has called for fair access to COVID-19 vaccines for Africans and said debt relief would help African economies recover faster and better from the pandemic. Speaking on 8 February at a virtual event held in his honour as the outgoing African of the…
DetailsThe Centre must brace for a surge in fresh corporate bankruptcy filings after the ongoing pandemic-induced freeze lifts by the end of the financial year. The Insolvency and Bankruptcy Code (IBC) was suspended for six months from March last before being extended to December and subsequently for the full financial year. Latest Insolvency and Bankruptcy…
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