A mother and daughter face losing their 55,000 home after the High Court upheld objections by a financial services firm to her proposed personal insolvency arrangement. The PIA was opposed by Pepper Finance Corporation (Ireland) DAC, which acquired a debt of 151,975 secured on the womans home in Munster. The woman, a part-time bookkeeper, hoped…
DetailsThe shell left behind after Hemisphere Technologies sold its assets to a foreign investor has gone into liquidation with debts of nearly $5 million, including hundreds of thousands of dollars owed to security vendor Kaspersky. Just a month after its assets were acquired, the company now called “ACN 152 546 453 Pty Ltd” formerly Hemisphere Technologies…
DetailsMany Fifers will be feeling the pinch after Christmas after spending money on food, drink and presents for loved ones. But for some, the festive period may have brought additional stress if they are already struggling with debt and money problems. Citizens Advice and Rights Fife (CARF) provides free information and advice on a wide…
DetailsEven before Christmas, Americans went on a spending spree, adding a record $21.9 billion in credit card debt in just three months from July through September. Then we each charged $1,000 more in holiday spending, according to consumer financial-education website Magnify Money, and are starting 2017 with more debt than some can ever pay. During…
DetailsNEW DELHI: Providing the first possible avenue to resolve insolvency in a market-determined and time-bound manner, the Insolvency and Bankruptcy Code will help improve ease of doing business as well as develop the debt market, says IBBI Chairperson M S Sahoo. Less than four months old, the Insolvency and Bankruptcy Board of India (IBBI) has…
DetailsNEW DELHI: After selling its stake in KG gas block to ONGC for $1.2 billion, Gujarat State Petroleum Corp (GSPC) is mulling a big financial restructuring including trimming stake in some business like LNG and portfolio readjustment, its Managing Director J N Singh said. The Gujarat government firm, which is saddled with nearly Rs 20,000…
DetailsTHE silly season might be over but the debt hangover is not for thousands of Australians who are expected to pay the price for festive splurges well into 2017. Roy Morgan research for The Salvation Army suggests 1.8 million people will take two to three months to pay off their Christmas credit card debt and…
DetailsAfter selling its stake in KG gas block to ONGC for USD 1.2 billion, Gujarat State Petroleum Corp (GSPC) is mulling a big financial restructuring including trimming stake in some business like LNG and portfolio readjustment, its Managing Director J N Singh said. The Gujarat government firm, which is saddled with nearly…
DetailsReaders will recall that on 23 September 2016 we posted an article about recognition under the UNCITRAL Model Law on Cross-Border Insolvency (Model Law) of the Korean rehabilitation proceedings for Hanjin Shipping. After granting interim recognition of the rehabilitation proceedings in September 2016, the Federal Court granted final recognition orders on 11 November 2016. The…
DetailsTHE silly season might be over but the debt hangover is not for thousands of Australians who are expected to pay the price for festive splurges well into 2017. Roy Morgan research for The Salvation Army suggests 1.8 million people will take two to three months to pay off their Christmas credit card debt and…
Details