The Insolvency Service of Ireland will meet the countrys banks next month to ask why there has been a sharp increase in objections to personal insolvency arrangements involving mortgage debt write-downs. Lorcan OConnor, the director of the insolvency service, has called the meetings with mortgage providers as new figures show the number of arrangements –…
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…
DetailsCHESTERBROOK, Pa.–(BUSINESS WIRE)–The J.G. Wentworth Company® (“J.G. Wentworth” or the “Company”) (OTCQX:JGWE) today reports financial results for the third quarter of 2017. The following are highlights from the third quarter results: Third Quarter 2017 Consolidated Results: Consolidated revenues were $118.7 million, an increase of $49.9 million from the $68.8 million reported in the third quarter…
DetailsAs of September, U.S. consumers owe $3.79 trillion in consumer debt. The average household with credit card debt owes nearly $17,000 on cards. In October, sources reported that credit card delinquencies increased for the third consecutive month, meaning that more people are unable to pay on time. “Many people struggle with debt, but they may…
DetailsSt Helier, Jersey, 2017-11-14 14:00 CET (GLOBE NEWSWIRE) — Delisting of Black Earth Farming Ltd. Last day of trading 13 December 2017 St Helier, Jersey, 2017-11-14 14.00 CET (GLOBE NEWSWIRE) — On 11 August 2017 the Annual General Meeting of Black Earth Farming Ltd. (the “Company”) resolved to instruct the Board of Directors to…
DetailsReuters By Una Galani (The author is a Reuters Breakingviews columnist.) MUMBAI, Nov 14 (Reuters Breakingviews) – Anil Ambani’s Reliance Communications may yet offer comfort to creditors – though not necessarily its own. The tycoon’s Mumbai-listed telecom group missed a payment on a $300 million U.S. dollar bond due in 2020. Offshore bondholders…
DetailsBailiffs were brought in by local authorities to collect debts more than two million times in a year, a charity has said. The report by the Money Advice Trust found that nearly six in 10 of the 2.14 million debts referred to enforcement agents in 2014/15 were for council tax, with more than 700,000 relating…
DetailsA recruitment agency run by former banned company director Lubo Jack Raskovic out of an office block in Sydney’s north west, promised to help find migrants sponsored jobs and a pathway to visas in exchange for asking fees as high as $70,000. “He said he can find the right guy in my field – if I want [visa] sponsorship, he…
DetailsMUMBAI: Debt-laden company Electrosteel Steels, that is undergoing insolvency resolution, reported a quarterly increase in losses for the quarter ending September, which is when the company started the resolution process with a court-appointed resolution practitioner. Losses at the company widened by 22% to Rs 29,666 crore from Rs 24,219 crore in the quarter ending June.…
DetailsBillionaire Anil Ambani controls mobile phone operator Reliance Communications The first default on US dollar bonds by an Indian company in 15 months may become a closely-watched test case for how international creditors will fare under the country’s new bankruptcy laws. Reliance Communications Ltd., the mobile phone operator controlled by billionaire Anil Ambani, failed to…
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