Hi Nicole, I am being pursued by a debt collector (and their lawyers) because I am refusing to pay an invoice, something I have NEVER done before. I was selling my house off-market and the licensed conveyancer I employed to draw up the contract of sale made basic errors (including muddling up the terms ‘vendor’…
DetailsKUALA LUMPUR: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and Sept 2015, according to the Malaysian Financial Planning Council (MFPC). MFPC deputy president Michael Kok Fook On said this group of people failed to manage their financial resources and do not understand the importance of…
DetailsYang Qingpei, above following his arrest, allegedly murdered his parents and 17 other people in the remote village of Yema in southwestern China. Picture: 163.com IN ONE of the bloodiest massacres in recent Chinese history, a man has carried out a killing rampage in a remote Chinese mountain village where 19 bodies have been found.…
DetailsDenver Business Journal , KUSA 11:04 AM. MDT July 14, 2016 U.S. Bankruptcy Court (Photo: JUPITERIMAGES) DENVER BUSINESS JOURNAL – A Denver energy company that filed for bankruptcy protection in March said it could emerge from restructuring later this month. Venoco Inc. said the U.S. Bankruptcy Court for the District of Delaware has approved its…
DetailsSince starting Student Loan Hero, I have learned a lifetime of lessons about personal finance, risk and opportunity, and decisions and consequences. If I had to sum these lessons up, they would look like this: Lesson #1: Debt is a burden we shouldn’t take on willingly. Colleges are more than willing to loan you money…
DetailsA LEIGH-based investment company left its registered office in Madeira Avenue without notice when the Insolvency Service began investigating its gold mine investment scheme. It was reported that the company refused to co-operate with the Insolvency Service before vacating tis offices. Five firms, including Santo Montana LLP in Madeira Avenue and Lorem Ipsum Trade…
DetailsThe Global Lead for Credit Infrastructure at the World Bank, Mahesh Uttamchandani has described as acceptable , governments intervention in the DKM microfinance scam to help customers get back their investments. According to him, unlike corporate private entities, an insolvency involving financial institutions like DKM, have larger societal impact which have dire economic implications. A…
DetailsOct 7 KST Beteiligungs AG : * Will be completely resolved from a pension obligation existing with the former management board against payment of a compensation amounting to approx. 1.26 million euros ($1.41 million) * Resolves itself from the pension obligation and proposes liquidation of the company * After signing of transfer agreement will propose…
DetailsThe Bucharest Court approved yesterday the insolvency request of ELCEN, a state-owned power producer that also provides the heat and hot water distributed in Bucharest. KPMG was appointed the companys judicial administrator. According to the company, its total debts have reached EUR 402 million whereas its claims amount to EUR 827 million. The company has…
DetailsNew Delhi: The government has come out with draft norms for registration of insolvency professionals and agencies under the Insolvency and Bankruptcy Code. Reuters While the Code is in the process of being implemented, the government has already set up the Insolvency and Bankruptcy Board of India (IBBI), chaired by M S Sahoo. The Corporate…
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