The Supreme Court is likely to hear 19 petitions challenging the constitutional validity of provisions relating to insolvency of personal guarantors under the IBC on Thursday. In the last hearing on October 29, the top court had transferred to itself all the petitions pending before various High Courts, challenging the said IBC provisions. The SC…
Celebrity chef Jock Zonfrillo has voted to settle the debts of his failed Adelaide restaurants by paying major creditors between five and 10 cents in the dollar, against the wishes of the Australian Tax Office. Key points: Jock Zonfrillo’s restaurants in the East End of Adelaide’s CBD have closed Most creditors will receive between five…
Satellite communications on a North Sea platform supply vessel (source: Eidesvik) 01 Dec 2020byMartyn Wingrove Castor Marine has stepped in to save SeaVsat, which provides satellite internet access to offshore vessels and rigs, through an acquisition from administrators Netherlands-headquartered SeaVsat was declared bankrupt on 23 November, leaving customers at sea in uncertainty about their connectivity…
December 02, 2020 00:03 ET | Source: DIY Debt Relief photo-release DIY Debt Relief DIY Debt Relief Process Los Angeles, California, Dec. 02, 2020 (GLOBE NEWSWIRE) — Debt is an anxiety-inducing topic for most Americans. According to financial experts, about 80% of Americans have some form of consumer debt and are $38,000 in debt, excluding…
Rationale Asset Management PLC, Value Asset Management PLC and Merydion Corporation Limited were involved in property investment and were previously placed into provisional liquidation in the High Court. A provisional liquidator was appointed and the Official Receiver has responsibilities to protect assets in the possession or under the control of the companies pending the determination…
Queensland companies are continuing to collapse by the dozen despite the state’s economy slowly recovering from the devastating COVID-19 shutdown. In November 60 companies were put into liquidation or administration – far less than before the pandemic. Previous modelling suggests thousands of Queensland small businesses continue to rely on the federal government’s JobKeeper program and…
After a year like no other, the Queensland 2020-21 Budget has been handed down. Treasurer Cameron Dick revealed the state’s finances had been significantly impacted by COVID-19, with debt set to increase to $102 billion and the budget deficit to swell to $8.63 billion. The document also predicts four more years of deficits before a…
Credit: Dreamstime The government has moved to extend its debt relief provisions for businesses by 10 months, meaning the scheme will remain open until 31 October next year. The extension to the rules allowing affected businesses to put their debt on hold was made to help assist with the ongoing economic recovery from COVID-19. The…
Journalists who lost their jobs when the weekly newspapers they worked for ceased publication are to receive money they are owed after a near-three-year fight. Editorial staff who were employed at Lyme Regis-based View From Newspapers will now receive notice pay settlements and additional payments awarded by an employment tribunal after Duncan Williams, the final…
Background The majority of people in the UK want to pay the right tax at the right time because they believe that it is the right thing to do and appreciate that tax revenue funds public services for everyone. HMRC provides a flexible range of support for those who would like to pay on time…