Paying homage to Justice V.R.KrishnaIyer ‘s golden words in Jolly George Verghese & Anr vs The Bank Of Cochin [AIR 1980 SC 470] “To be poor, in this land of daridra Narayana, is no crime”, a Munsiff from Kerala paid the debt of a party and settled the Case in the nationwide Lok Adalat. While the legality of the procedure is yet to be decided, the media and public in Kerala have welcomed this pro bono effort and applauded the MunsiffA suit for recovery was filed by Canara Bank against one Mr. Kumaran and even after repayment through few installments, an amount of Rs- 30,000/- remained outstanding. Mr. Kumaran who was working as a labourer had fallen from a tree and is mostly bedridden. He was not in a condition to repay the aforesaid amount. His case was referred to Lok Adalat organized by National Legal Services Authority (NALSA) held on 14.2.2015 at Vadakara, Kerala. The bank, on negotiation, agreed to settle the case for 15,000/- … [Read more...] about Exclusive; Munsiff paid debt of a poor party and settled the case in Lok Adalat
POLITICS 07/11/2018 09:05 pm ET The Supreme Court nominee is reportedly a big Washington Nationals fan. By Nick Visser Supreme Court nominee Brett Kavanaugh charged tens of thousands of dollars to personal credit cards over the past decade and was sometimes as much as $200,000 in debt, according to financial disclosure forms reported by The Washington Post. The reason, according to the White House: baseball. Kavanaugh incurred much of that debt buying Washington Nationals season tickets for himself and his friends, White House spokesman Raj Shah told the Post, noting that some of the expenses were also used for unspecified home improvements. The judge had between $60,000 and $200,000 stretched between three credit cards and a personal loan in 2016, but all were paid off in full or had balances below reporting requirements by the following year. Kavanaugh has since stopped buying Nationals season tickets, Shah said. The White House did not reply to HuffPost’s … [Read more...] about Brett Kavanaugh Had Massive Credit Card Debt. The White House Blames Baseball.
VietNamNet Bridge – Dr. Hoang Van Cuong, a member of the National Assembly Committee on Economic Affairs, talks to the Investment Review newspaper on his Committee’s resolve to tighten the management of public debt. Hoang Van Cuong. — Photo tinnhanhchungkhoan.vn In comparison with the targets for public debt passed by the National Assembly, public debt in our country has been well under control. Do you agree with that argument? Vietnam’s strategy on public debt and foreign debt in the period from 2011-20 is to cap such debt at 65 per cent of the GDP. In that strategy, the Government has also set out a clear guideline that the Government’s responsibility to pay back the debt directly, not including re-loans, should be capped at 25 per cent of the annual total State budget and the obligation to pay back the foreign debt should be less than 25 per cent of the value of export goods and services. In the first six months of 2018, according to the … [Read more...] about Public debt a tricky issue
This morning’s key headlines from GenerationalDynamics.com Kenya’s debt repayments to China triple in July Concerns grow that China may take control of Kenya’s port at Mombasa Kenya’s debt repayments to China triple in July Starting in July, Kenya’s annual debt repayment of loans to China triples to $900 million. Kenya has been on a borrowing binge in the last five years, having borrowed a total of $50 billion. These loans have been used to build roads, ports, and railways and were to be repaid with the revenue from this infrastructure but, as with many loans, hopes and promises were not kept. Some $2.7 billion in loan repayments will be due to foreign lenders in 2019-20, a third of it to China. In addition, Kenya must pay $780 million for 2014 Eurobond note, including $2 billion in commercial loans in the first half of 2019. This includes retiring a $787 million loan from Britain’s Standard Chartered Bank and another $371 million loan from … [Read more...] about World View: China May Seize Kenya’s Mombasa Port as Debt Repayments Triple
By Daniel Borenstein | [email protected] | Bay Area News Group PUBLISHED: February 13, 2019 at 5:10 am | UPDATED: February 13, 2019 at 7:40 am Despite nearly a decade of economic growth since the end of the Great Recession, the nation’s largest public pension system remains badly underfunded with only about two-thirds of the assets it should now have. It’s time for the California Public Employees’ Retirement System to address one of the causes of the shortfall: It should stop relying on unrealistically optimistic investment-return forecasts to help bankroll the retirement of 1.9 million state and local government workers and family members. CalPERS is currently in the middle of a three-year lowering of its assumed investment-earnings rate, from 7.5 percent annually to 7 percent. But that’s still not low enough. The pension system’s staff and board members should know that. Their outside consultant warned them in 2016 that the best average … [Read more...] about Borenstein: CalPERS’ flawed forecasting increases pension debt