“We recommend opening up the restructuring practitioner role for small businesses beyond the domain held by registered liquidators. “It has gone so far as to recommend that the best people to help restructure a small business are likely to be senior accountants and even lawyers particularly in suburban and regional Australia who are closest to…
GOVERNMENTS IN MANY poor countries have faced a sickening choice this year, between spending to support their populations through the covid-19 crisis and paying creditors. On October 14th finance ministers of the G20 group of countries offered a temporary salve for 73 of the worlds neediest countries, by saying they would extend their Debt Service…
The company was directed by Canadian businessman Matthew Davey out of Dunedin but he is understood to have returned to Canada. Photo by Peter McIntosh. The embattled company behind Ticket Rocket is now in liquidation, owing nearly $350,000 to two Super Rugby franchises. Fortress Information Systems Ltd was called before the High Court at Dunedin…
Vrgin Australia is expected to remove free food and drinks from economy class and potentially adopt a ‘buy on board’ model when new owners Bain Capital reveals its plans for the rescued and rebooted airline next month The move is part of a sweeping push to lower Virgin’s cost base and reduce ticket prices framed…
Thomas Knowles was born in 1782 in Hythe, Kent, and went on to work as a servant in London. He was declared insolvent in 1819 and 1825, before finally being admitted to debtors prison for several months in 1829. William Hole, who was also born in Hythe, in 1793, worked as an apprentice before moving…
Puducherry CM V Narayanasamy PUDUCHERRY: The Puducherry government has urged the Union government to ban online gambling platforms and apps. Chief minister V Narayanasamy told reporters that he has written a letter to the Union communications, electronics & information technology and law & justice minister Ravi Shankar Prasad urging him to ban online rummy and…
Mumbai, Oct 21 (PTI) Private broadcaster Zee Entertainment Enterprises Ltd (ZEEL), which has been facing cash flow issues for over a year, on Wednesday unveiled a major strategic restructuring involving its key talent and integrated various business and content verticals with a focus on revenue maximisation and entering newer territories. Major part of restructuring is…
Banks are not taking enough risk if no loans ever go bad after all banks are in the business of providing risk capital at an appropriate price. But given a certain proportion of loans will go bad, how should banks provide for them in their accounts without knowing exactly which ones will tip over? “Businesses…
Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return since Sept. 23, 2010 is 276.8%. On that day in history, movie rental giant Blockbuster officially declared bankruptcy, officially marking the changing of the guard in video entertainment to Netflix, Inc. (NASDAQ: NFLX)…
Boris Becker steps out for dinner a day before his first court hearing for ‘hiding a Chelsea flat and 1.2m in cash’ amid bankruptcy in 2017… for which he faces SEVEN YEARS in jail Becker is accused of failing to fully declare his estate to Insolvency Service High Court has imposed restrictions on Becker’s finances…