By Martin North, cross-posted from the Digital Finance Analytics Blog: The Australian Financial Security Authority today released the personal insolvency activity statistics for the June quarter 2016. Total personal insolvencies increased 13.7% in the June quarter 2016 compared to the June quarter 2015. This is the largest rise since the March quarter 2009, when compared…
An increasing number of South Korean creditors are advocating the necessity of new ways of corporate restructuring as the existing method characterized by voluntary agreements led by state-run banks is showing its limitations. The existing method, which was brought in about 15 years ago, is for a restructuring target to try to go back to…
Ben Harvey – The West Australian on July 13, 2016, 7:22 am Joe Gutnick. High-flying Melbourne businessman Joseph Gutnick has declared himself bankrupt. The Melbourne Football Club tragic, who was nicknamed Diamond Joe, owes more than $275 million. He made the declaration on Friday in a move seen as pre-empting Indian fertiliser giant, the Indian…
Mining magnate Joe Gutnick has declared bankruptcy with $275m in debts Former Melbourne Football Club president was once worth $300 million Deal with India’s largest fertiliser collective turned sour after legal fight Statement of claim shows Mr Gutnick owes Indian company $54 million By Emily Crane for Daily Mail Australia Published: 08:31 EST, 13 July 2016…
MINNEAPOLIS–(BUSINESS WIRE)–Robins Kaplan LLP® announced today that Scott Gautier has been named national co-chair of the firms Restructuring and Business Bankruptcy Group. Gautier joins current practice co-chairs Howard Weg and H. Jeffrey Schwartz in this role. Scotts appointment to national co-chair of the Restructuring and Business Bankruptcy Group follows the firms growth in this practice…
LAFAYETTE, La.–(BUSINESS WIRE)– CirraGroup, the first crowdsourced medical debt settlement solution, announced today that the startup has closed a $500,000 Series B equity investment from the Lafayette General Foundations Health Innovation Fund (Lafayette, LA). CirraGroups novel approach to medical debt resolution addresses an ongoing challenge for all hospitals, states Cian Robinson, Executive Director for the…
Details Published on Tuesday, 12 July 2016 16:00 View Comments “Today is July 11th and the day that PakaTun people say is the day that supposedly Malaysia’s MoF will be declared bankrupt by the London “court” because of 1MDB,” wrote blogger Lim Sian See in a Facebook post yesterday. What bankruptcy day? If you can…
LAFAYETTE, La.–(BUSINESS WIRE)–CirraGroup, the first crowdsourced medical debt settlement solution, announced today that the startup has closed a $500,000 Series B equity investment from the Lafayette General Foundations Health Innovation Fund (Lafayette, LA). CirraGroups novel approach to medical debt resolution addresses an ongoing challenge for all hospitals, states Cian Robinson, Executive Director for the Lafayette…
PRE-TAX profits at Begbies Traynor shot up to £4.5m for the year to the end of April, as the firm was boosted by its property services unit, despite seeing insolvencies drop to its lowest level since 2004. The insolvency outfit recorded pre-tax profits of £600,000 for the year, compared to losses of £700,000 in the prior…
Premier Oil has revealed that the weakness in the sterling post the Brexit vote will help reduce its sterling-denominated operating expenses, capital expenses and debt. The London-headquartered company said in its trading and operations update and guidance for its half year financials to 30 June, 2016 that its total revenues for the period were about…