To further strengthen the insolvency law regime, the government on Wednesday proposed a raft of changes, including fast-tracking the process, expanding the scope of the pre-packaged framework and developing an electronic platform with minimal human interface. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution…
A man was left more than 80,000 in debt after being “sucked in” by “ridiculous” gambling websites. Rob, who has asked for his surname not to be used, is now issuing a stark warning to others, at a time when so many are experiencing money worries. The Liverpool FC fan now wants to help others,…
Mazeras Bridge of the Mombasa-Nairobi standard gauge railway in Kenya, May 12, 2017. [Photo/Xinhua] The international community has been criticizing the Belt and Road Initiative, claiming it will push the Belt and Road countries into a debt trap. Yet there has been no substantive research confirming the claim is true. Such criticisms are mostly part…
The simplified debt restructuring process was largely successful although the number of companies involved was small. By Keeli Cambourne19 January 20231 minute read ASIC has outlined its findings on all the small business restructuring practitioner appointments for the 18-month period to 30 June 2022 in the first assessment of the scheme. Already have an account?…
The government will clear the HELP debt for those who spend four years teaching in a very remote location at a primary or secondary school, day care centre or preschool. It is expected to save teachers an average of $35,000. Eligible teachers will have waived either the debt of their initial teaching degree or whatever…