Saturday, 7 November 2026

Dhanteras brings out best retail day of year

Buoyant festive demand, considered India’s largest sales period, will be a relief to companies and retailers as it comes in the backdrop of deficient monsoons, high food inflation, volatility in IT sector employment, continued geopolitical uncertainties and risks of El Niño weather conditions.

Economic Times

2 hours ago · 1 min read★ 3.5 trust

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The week in charts: GST collections, aviation fuel costs, US midterm elections

In this weekly Plain Facts compilation, we present to you data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by.

Mint·1 hour ago·1 min read

Business

Texas beverage firm's loan default leaves co-owner facing $619,419 judgment

The appeals court accepted the lender’s recordkeeping evidence and rejected Pham’s disclosure objections as improperly raised at trial. A business loan can put more than just the company’s finances at risk. If a lender asks an owner to personally guaranty some of the borrowing, the consequences can haunt them long after the business runs into trouble. That was the case in a dispute involving Texas beverage maker Holy Kombucha, after a lender came after one of its co-owners over a guaranty signed as part of a loan restructuring.On Oct. 30, 2026, the Texas Sixth Court of Appeals upheld a judgment against Theresa Pham for $619,419.50 to Montgomery Capital Partners IV, LP. The award was $500,000 in damages and $119,419.50 in pre-judgment interest. The decision upheld the trial court’s finding that Pham’s guaranty was still in place when the company defaulted. How the guaranty was triggered According to the Texas Sixth Court of Appeals, Montgomery Capital Partners loaned $2 million to Holy Kombucha, Inc., partially owned by Pham and Leandro Bienati, in January 2021. After a first default, the company entered into a forbearance agreement in December of that year.Under the agreement the lender agreed to provide the business with a $500,000 draw facility. As part of the agreement, Pham was required to sign a personal guaranty. At the time of the loan, the original loan balance was $2,044,544.92.Pham’s liability was limited by the guaranty to the lesser of $500,000 or the total principal advances made under the new draw facility. It also provided that her obligation would terminate when the aggregate of the principal and interest outstanding on the original loan and draw facility fell to or below the stated balance.The company burned cash and defaulted again in April 2024. Montgomery then sued Pham for breach of the guaranty. Dispute over whether the obligation was extinguished One key question was whether Pham’s personal guaranty had already been extinguished. She argued the draw facility was paid off in April 2022 and the conditions to terminate her obligation were therefore met.The Texas Sixth Court of Appeals looked at the payment history and correspondence that was offered at trial. Holy Kombucha had paid down a substantial amount on the draw facility, but the lender claimed there remained some interest owed. It also held that the guaranty covered the net balance of the original term loan and the draw facility and not just the draw facility.The lender prevailed at the trial court. The results showed that the total guarantyd debt never fell below the threshold of $2,044,544.92. The appeals court found the evidence was sufficient to support that finding and rejected Pham’s argument that the warranty had expired. Why the decision was upheld Pham also took issue with where the lawsuit was filed, the admission of a loan balance sheet and how interest was calculated. But the Texas Sixth Court of Appeals said those arguments offered no reason to overturn the judgment.As to venue, the court said Pham had not made a timely request for a hearing on her motion to move the case to Dallas County. Her objection to the venue was therefore waived. The guaranty also provided the lender the right to initiate proceedings in other jurisdictions, including the court where it filed the case.The court also admitted in evidence a balance sheet showing the advances on the loan, repayments and interest accrued. It said the lender’s representative had provided adequate proof of how the records were kept. Pham’s separate objections to disclosure rules had not been properly raised at trial.She also challenged the award of interest, but that was rejected because she did not make that argument in the trial court. The judgment awarded pre-judgment interest at a contractual rate of 16 per cent compounded daily.There was a dissent though. Justice Jeff Rambin disagreed with the majority opinion on the balance sheet, arguing that the document was created for litigation purposes shortly before the trial and therefore should not have been admitted as a routine business record.The majority disagreed but affirmed the trial court's judgment and the award of $619,419.50 against Pham.

Times of India·2 hours ago·3 min read

Business

Steve-O turns 44-acre Nashville ranch into home for rescued animals

Steve-O, the famous Jackass star, has dedicated himself to animal welfare by establishing The Radical Ranch, a sanctuary for rescued animals situated near Nashville. Since its inception as a nonprofit in 2024, the ranch has provided a home for nine animals, including goats and pigs. Steve-O envisions expanding the sanctuary to include cows and chickens while fostering empathy towards all creatures.

Times of India·2 hours ago·5 min read