The Air Berlin bankruptcy reached a new level of complexity and uncertainty, after a creditor filed an application to declare Austrian subsidiary Niki bankrupt as well. The legal action, if successful, would likely torpedo previous rescue efforts and lead to the collapse of most, if not all, proposed transactions by potential investors to pick up…
Detailssun savers Collect 28 Sun Savers codes and we’ll give you £5 with no limit to how much you can earn YOUNG, footloose, fancy-free…and broke? You are not alone. Worrying new figures show more young people than ever are seeking help for serious debt problems. Getty – Contributor We share our tips to help your…
DetailsHassled homebuyers who had invested in Amrapali Group projects moved the Supreme Court on Wednesday against the insolvency proceedings initiated against the real estate firm. The petition, filed by Bikram Chatterjee and 106 others, says the company has neither given them possession of flats nor returned their hard-earned money spent to book homes in the…
DetailsNew Delhi, Sep 20 () The Insolvency and Bankruptcy Code (IBC) should gradually evolve to its full potential and one of its main objective is to maximise the value of assets of corporate borrowers, IBBI chairman M S Sahoo said today. The Insolvency and Bankruptcy Board of India (IBBI) chief also said that the capability…
DetailsWhen the Birmingham substance misuse service was handed from the local NHS trust to a charity, Carol Rice lost her job amid cost-cutting, just as she was facing deeper debt problems. The 59-year-old single mother of three had been helping recovering drug addicts and had a second job to try to make ends meet. Eventually,…
DetailsDebt charities have reported a jump in the number of young people seeking help with bad debts as growing numbers of under-30s struggle to pay household bills, interest on bank overdrafts and rent arrears. Citizens Advice said that the failure to cope with payday loans and other forms of high cost credit was one of…
DetailsA growing proportion of people seeking help with debt problems are aged under 40 years old, a charity has reported. Nearly two-thirds (63%) of all clients advised by StepChange Debt Charity in the first six months of 2017 were aged under 40. In 2011 this proportion stood at 51%. StepChange also said that under-25s seeking the…
DetailsFarmer heartbroken after cull exit Source: Ballarat Courier LAST week, third-generation farmer Keith Slorach gave the last of his guns away. Having just been declared bankrupt, the 60-year-old could no longer trust himself with the weapons after having just witnessed the rounding up of his precious merino flock for slaughter on his Mortchup farm near…
DetailsThree months after it was first declared bankrupt and then reopened, the saga of Spanish gastro restaurant La Boqueria has come to an end. Located in rue Erasme, Luxembourg-Kirchberg, its owners declared bankruptcy on 15 September, according to our sister site Paperjam. It was initially declared bankrupt on 2 June but reopened a week later…
DetailsAfter the recent dispute concerning Insolvency Law, which involved Jaypee Infratech and its flat buyers, there has been a debate on a possible amendment to the Insolvency and Bankruptcy Code (IBC). The IBC as should be well known is not a sectoral law. This means that it doesnt cater to the demands and needs of…
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