Tuesday, July 28, 2020 On 26 June 2020 theCorporate Insolvency and Governance Act 2020(the Act) came into force, introducing a number of permanent reforms to English insolvency and restructuring law. Among these reforms is a standalone moratorium available to any eligible company that is, or is likely to become, unable to pay its debts. Eligible…
Against a backdrop of growing demand for steering distressed companies through the choppy waters of today’s crisis economy, one of the globes top restructuring consultancies has expanded its turnaround and insolvency offerings into Norway and Switzerland. Alvarez & Marsal has been active in the restructuring business since 1983, but the firm rose to global fame…
Cashflow and turnover were the key sources of stress for one third of survey respondents, compared to just 10 per cent who said the end of JobKeeper is their primary concern. But it might not be so straightforward, since the cuts to JobKeeper payments that are coming at the end of September 2020 and again…
AUSTRALIAN country clothing and accessories Bullzye could be making a comeback. The company went into liquidation in March, with all five physical Queensland stores closing soon after. There were stores in Rockhampton, Townsville, Bundaberg, Toowoomba and Mackay, plus a warehouse in Murrarie for online orders. Bullzye Australian Co. store in Mackay. Picture: Tony Martin READ…
After going into voluntary administration, Seafolly is on its way to receiving a lifeline. Administrators KordaMentha selected L Catterton as the preferred bidders for Seafolly the swimwear brands former parent company. Seafolly was founded by Peter and Yvonne Halas back in 1975 and acquired by L Catterton in 2014. Visit Business Insider Australias homepage for…
Photo by Melissa Walker Horn on Unsplash Wealth management platform Myprosperity has seen a 200% increase of debt recorded on its platform since the start of the year. As more Australians are having conversations about their financesduring the COVID-19 pandemic, Myprosperity now tracks $12 billion worth of debt on its platform, with an 80% increase…
Zambia took on debt to revamp a railway to Victoria Falls.AFP Zambia was once a model in Wall Street’s rush to issue debt for the world’s poorest nations, attracting bigger orders and lower interest rates than some more-developed countries. Less than a decade later, the Southern African nation is straining to pay back more than…
The stress of losing your life savings really muddles your thinking, Mr Russell said. His appearance is part of a stream of prosecution witnesses appearing in the case against Mr Gore, who has declared he is not guilty to the 12 fraud charges relating to $800,000 of investor funds. He was arrested in 2017 following…