London Diamond Investment Company Ordered into Liquidation – Israel Diamond Portal

Heritage FA Limited which marketed and sold colored diamonds and other commodities to the public for investment has been ordered into liquidation on the grounds of public interest, according to a press release from the Insolvency Service. An investigation found that vulnerable and elderly individuals were being targeted and aggressively sold investments…

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US Department of Education Announces Path for Debt Relief for Students at 91 Additional Corinthian Campuses – U.S. Department of Education (press release)

The U.S. Department of Education announced today that students who were defrauded at 91 former Corinthian Colleges Inc. (Corinthian) campuses nationwide have a clear path to loan forgiveness under evidence uncovered by the Department while working with multiple state attorneys general. These campuses represent the largest group of borrowers eligible for loan relief so far…

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The Quagmire of the ‘Dual Fiduciary’ – New York Law Journal (registration)

Scott M. Himes and Brent Weisenberg In today’s investment world, private equity firms, investment managers and other investors often acquire a substantial interest in a business and, as a consequence, earn the right to put “their people” on the company’s board. That person then becomes a “dual fiduciary”someone with fiduciary obligations to his or…

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Victoria urges Malcolm Turnbull to crack down on debt management firms – The Age

Consumer Affairs Minister Jane Garrett has serious concerns about debt management firms. Photo: Josh Robenstone The Turnbull government is under growing pressure to crack down on “debt vultures” that fleece money from vulnerable people by falsely promising to provide solutions to their financial distress. Victoria has written to Canberra warning about the conduct of debt…

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