PARIS, June 22 (Reuters) – Zambia has clinched a deal to restructure more than $6 billion in debts owed to other governments, a French official said on Thursday, in a long-awaited breakthrough to ease pressure on the southern African country’s strained public finances. Zambia in 2020 became the first African country to default on its…
Residents in Victoria have been left with a gaping, muddy hole in their backyard after another pool company collapsed earlier this month. Bannockburn-based swimming pool manufacturer Pools and Spas Pty Ltd in the states outer southeastern suburbs, entered external administration on June 9, eight days after another Melbourne company, Pools R Us, went bust. Also…
By Wayne Robinson | 23 June 2023 The Australian Tax Office is owed $30bn, two thirds of it by small and medium sized enterprises, with industry insiders warning a crackdown is imminent. Have a tax debt: The ATO is coming Insolvency experts Rodgers Reidy says the overlying message is clear if youve got an outstanding…
(Bloomberg) — Zambia reached an agreement in principle to restructure $6.3 billion of debt with bilateral lenders and will announce a deal Thursday, according to a French official, setting a precedent for countries struggling to service their liabilities. Most Read from Bloomberg The accord marks the first major relief won by a developing country under…
In short: More small businesses are choosing to close because of falling profits during the cost-of-living crisis but their numbers aren’t included in insolvency figures What’s next? The federal government and Reserve Bank have been asked to consider small operators as they continue to fight inflation Jessica Bailey has a strong record of conquering challenges in the…
Developer alleges that the arrangement obtained by his neighbour was an abuse of process because he was not insolvent, as pairs legal feud rumbled into Supreme Court Michael OFlynn: Developer has made multiple failed attempts to object to ODriscolls PIA, including as part of a case heard last month which made allegations of fraud and…
Christopher Kane facing business closureTim Whitby/BFC – Getty Images Christopher Kane is to appoint insolvency administrators this week with the business on the brink of collapse. The London Fashion Week brand has reportedly hired FTS Recovery in the hope of securing an investor to save the company. “This difficult decision has been reached to give…
Poor countries will be able to pause their debt repayments if hit by climate disaster, under plans announced by the World Bank at the finance summit in Paris. The international development organisation said it would insert new clauses in any agreements with developing countries, allowing them to suspend debt payments in the case of extreme…
Developer Michael OFlynn has gone all the way to the Supreme Court in his continuing battle against the personal insolvency agreement (PIA) of former business partner, John ODriscoll. Mr O’Flynn is appealing a High Court ruling last summer preventing him from objecting to the PIA made in favour of his neighbour, Mr ODriscoll, from Ovens,…
(ANSA) – ROME, JUN 22 – Milan finance police on Thursday seized almost 48 million euros from Esselunga in relation to a probe into alleged tax fraud and worker exploitation by the supermarket chain. The group was allegedly involved in a “complex tax fraud” featuring fake invoices for services never provided as well as so-called…