People struggling with debt could be helped by a Bill progressing through parliament designed to reduce the term of bankruptcy to one year. Photographer: Sergio Dionisio/BloombergPicture: Bloomberg Debt-affected Pilbara property and business owners suffering in the wake of the end of the mining boom could be some of the biggest winners if new legislation is…
DetailsMOSCOW (Reuters) – Venezuela has not requested any help from Russia beyond a debt restructuring deal that has already been agreed between the two countries, Kremlin spokesman Dmitry Peskov told reporters on Wednesday. Russia and Venezuela are to sign an agreement on Wednesday restructuring around $3 billion in debts to Russia, a source familiar with…
DetailsSusan Walsh/AP For-profit college magnates Corinthian Colleges and ITT Technical Institute shuttered operations in recent years after facing state and federal investigations into fraudulent and predatory practices. After the school chains closed, tens of thousands of students who borrowed money to attend them found themselves with worthless diplomas and saddled in debt. The Department of Education under…
DetailsBeleaguered ISP TalkTalk’s half-year results have plunged into the red, reporting pre-tax losses of £75m due to major restructuring costs. Sales fell 5 per cent to £856m from £902m the year before. The firm attributed a chunk of those losses to a £31m bill in associated costs for overhauling its mobile phone business following its…
DetailsThe Insolvency and Bankruptcy Board of India (IBBI) has opined that sector-specific amendment cannot be done to the Insolvency and Bankruptcy Code (IBC), said government sources. They also ruled out any new provisions to protect homebuyers of real estate firms such as Jaypee Infratech and Amrapali Silicon City project. The housing ministry had recommended amendments…
DetailsA legal battle over a contested $3 million heads-up poker game that involved an Australian poker pro, a Czech casino mogul and too much alcohol could conjure up a decades-old case against a casino formerly belonging to now President Donald Trump. Back in 1995, a lawsuit against the then Trump Taj Mahal in Atlantic City…
DetailsIn his new position, Pack will be responsible for customer service, payment operations, settlement negotiations and underwriting. Based in FDR’s Tempe, Arizona, office, he will manage the company’s fast-growing operations. FDR recently became the first company in its industry to surpass the $7 billion mark in total consumer debt resolved, and continues to grow at…
DetailsGeneral Electrics stock dropped as much as 7.1% on Monday after the company outlined its turnaround plan. The companys earlier announcement that it would cut its dividend sent shares higher initially, but the stock dropped into negative territory once details around the restructuring emerged. GE is looking for a shot in the arm, having fallen…
DetailsMOSCOW (Reuters) – Venezuela has not requested any help from Russia beyond a debt restructuring deal that has already been agreed between the two countries, Kremlin spokesman Dmitry Peskov told reporters on Wednesday. Russia and Venezuela are to sign an agreement on Wednesday restructuring around $3 billion in debts to Russia, a source familiar with…
DetailsMOSCOW, Nov 15 (Reuters) – Venezuela has not requested any help from Russia beyond a debt restructuring deal that has already been agreed between the two countries, Kremlin spokesman Dmitry Peskov told reporters on Wednesday. Russia and Venezuela are to sign an agreement on Wednesday restructuring around $3 billion in debts to Russia, a source…
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