The Institute of Public Accountants (IPA) has welcomed the Governments insolvency framework as it could be the difference between survival and extinction for small businesses. IPA chief executive, Andrew Conway, said the reforms would test the viability of small businesses and support their recovery, restructure and survival. Or, it would help them wind down and…
One of the key measures being discussed by the Monetary Authority of Singapore (MAS) and local banks is the possibility of lengthening the debt relief programme, with industries that have been impacted most by the crisis potentially having aid extended by as many as six months SINGAPORE: Singapores central bank is in talks with lenders…
Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory shield) that expires…
Treasurer Josh Frydenberg. Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory…
Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show. The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remingtons brand and trademarks along with parts of its ammo and accessories business including…
The banking industry has to walk the tightrope of balancing relief with financial responsibility. Where private investors are unwilling to step in, governments are filling the void. Structured correctly, pension funds and other long-term investors might be the patient capital required to support local community businesses. The fallout from COVID-19 continues to challenge and disrupt…
Q: It feels like Ive been in debt forever. Even while I was married and we both earned enough to pay our bills, it seemed like no matter how much we paid, debt was the silent partner in our marriage. Now that Im on my own again and have been surviving on pandemic pay since…
The Monetary Authority of Singapore is in talks with lenders about extending the nations debt moratorium program beyond Dec. 31 to provide extra relief for borrowers hit by the fallout from the COVID-19 pandemic, people with knowledge of the matter said. One of the key measures being discussed is the possibility of lengthening the debt…
SINGAPORE (BLOOMBERG) – The Monetary Authority of Singapore (MAS) is in talks with lenders about extending the Republic’s debt moratorium programme beyond Dec 31 to provide extra relief toborrowers hit by the fallout from the coronavirus pandemic, according to people with knowledge of the matter. One of the key measures being discussed by the MAS…
Iain McGregor/Stuff Jonny Collett, pictured working as a painter and decorator in 2009, remains in business after his company collapsed. Tradespeople left thousands of dollars out of pocket by a construction company collapse are angry its owner remains in business under another name. Christchurch builder Jonny Collett put his company, J.E. Collett Builders Ltd, into…