(AP) – The Biden administration is reviewing whether it can take steps to provide student debt relief through executive action, even as it continues to call on Congress to pass legislation to help borrowers and their families. A tweet by White House press secretary Jen Psaki appeared to go further than her comments at a…
Details2008 and 2020 arent the only times Australias economy has teetered. It was in the drink in the 1930s too. After the Wall Street stock market crash in New York in 1929, the world was plunged into The Great Depression. Black Tuesday hit Australia hard, with the collapse of international commodity prices, including wheat and…
DetailsPerini Navi declared bankrupt Last week, the Court of Lucca (Tuscany) rejected the plan to debt restructuring presented by the Perini Navi shipyard, declaring the company bankrupt. Founded in 1983 by Fabio Perini, the superyachts builder, known especially for the Maltese Falcon, has a cumulative debt close to 100 M. The bankruptcy comes despite british…
DetailsIn the backdrop of the COVID-19 pandemic and the worldwide economic recession, Finance Minister Nirmala Sitharaman presented her third budget on February 1, 2021, making it her shortest one yet at 10,500 words and lasting around 110 minutes. The focus was to reset the economy by spending heavily on infrastructure development and upping the healthcare…
DetailsHe would look to Congress to take the next steps, she said. Legal scholars have fallen on either side of the issue of whether Biden has the power himself to address loan relief, with some saying the move would be unlikely to survive a legal challenge. The Trump administration took steps to block broad debt…
DetailsDespite the doom and gloom of the pandemic year of 2020, the Corporate and Personal Insolvency statistics for England and Wales appear to be a surprise. It is only when you unpack the reality of the figures that perhaps the true extent of the problem that companies and individuals in the UK are going to…
DetailsAustralias largest vehicle transporter Autocare Services has gone into voluntary administration, citing volatile market conditions, declining vehicle volumes and increasing operating costs as reasons. Big Rigs has asked parent company LINX Cargo Care Group for more details on what todays news means for the many truckies with Autocare, and exactly how they are impacted. An…
DetailsFebruary 05, 2021 03:43 ET | Source: Luckin Coffee Inc. Coordination between the Cayman Court and the U.S. Bankruptcy Court to Protect the Interests of Stakeholders and Facilitate Luckin Coffees Restructuring of its Financial Obligations All Company Stores Remain Open and Serving Customers in China; No Material Impact on Daily Operations Expected Company Continues to…
DetailsA software firm headquartered in Ireland has taken a stake in a Birmingham debt management company. Aryza has invested in Back to Credit which has been trading for more than ten years. Colin Brown, chief executive of Aryza, said: “By partnering with Lily and her team and leveraging their in-depth knowledge of their sector, we…
DetailsShutterstock The City of London London partners Adam Gallagher and James Watson join as European investment drive continues Simpson Thacher & Bartlett has hired a pair of experienced insolvency lawyers to help establish a European restructuring practice in London. Adam Gallagher and James Watson join as partners from Freshfields Bruckhaus Deringer and Kirkland & Ellis…
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