More on Budget 2018: Welfare recipients who owe taxpayers large debts will be forced to pay back money from their income support payments under measures unveiled in the Federal Budget 2018. Those whove been ordered to pay fines by the courts will have the funds deducted from their welfare payments until the debt is paid…
I owe the banks almost Dh180,000 and was paying properly until 2016, when I lost my Dh10,000 a month job at a multinational company. I struggled to get another job for four months before eventually joining the insurance sector to secure some income. While I was unemployed, I used savings to make my repayments. I…
The new financial year will mark sweeping reforms to insolvency rules, with a legal firm warning the impacts on new business contracts will be far-reaching. Last September, Financial Services Minister Kelly ODwyer flagged a softening of insolvency rules in a bid to reduce the number of businesses voluntarily entering or being pushed into insolvency prematurely.…
On Tuesday Baby Bunting confirmed that sales and gross margins had been damaged “both in the lead up to and since these competitors entered administration”. What we have seen in the industry during this financial year in terms of the extent of consolidation is unprecedented,” Baby Bunting chief executive Matt Spencer said in a statement.…
Korean companies such as Kumho Tire, STX Offshore & Shipbuilding and GM Korea have wrapped up restructuring to walk the road to recovery. Unlike in the past, when restructuring was mostly about large-scale layoffs, these companies showed that labor and management could work together to create a new framework for corporate restructuring. Here is Lee…
The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. That’s because creditors are afraid to take decisions. Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the…