bankruptcy relief

Oil and gas explorer Halcon Resources Corp.  sought for bankruptcy protection as one of the conditions in a reorganization deal reached in May with major lenders of the company. The deal would absolve $1.8 billion in debt plus $200 million in yearly interest payments, as stated in documents filed in court.  Most of the creditors […]

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The Russian government has given their citizens the right to file for bankruptcy in an effort to ease their debt burdens.  The country is already in deep recession due to a combination of tumbling oil prices and international sanctions. Consumers with debts higher than 500,000 rubles ($7,600) and more than three months delinquent on their […]

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US Government Debt Hits $16 trillion

by San Antonio Attorney

The US national debt reached a record high of $ 16 trillion on the day of the Democratic Party’s convention kick off, during which the President would accept democratic nomination for reelection. Republicans quickly came down on the debt figure to promote Mitt Romney for presidency. Republicans said the country’s economy is at risk, and […]

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The Obama administration and the new government of Egypt are nearing a $1 billion deal for debt relief, a senior US official said. Washington is seeking to assist Cairo with its troubled economy that resulted in the uprising of pro-democracy. US diplomats and arbitrators for the new president of Egypt Mohamed Morsi were finalizing a […]

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