According to a new report by the UN Global Crisis Response Group, entitled A World of Debt, a total of 52 countries almost 40 per cent of the developing world are in serious debt trouble, Mr. Guterres said, backing calls for them to receive urgent fiscal relief. Last year global public debt reached a record $92 trillion,…
Jul 12, 2023 Committee chair Deborah O’Neill says she hopes the report will provide the foundation for reform. -AAP Image Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly and needs a major overhaul. That is the conclusion of a long-running inquiry into the system by the federal parliament’s corporations and…
BBBLS B.V., known for its innovative soap bubble greenhouse insulation, has been declared bankrupt. The Dutch-Norwegian start-up was close to delivering a demo greenhouse in Monster to prove how the technology works in the Netherlands. The planned festive opening of the greenhouse in Monster failed to materialize this spring. The management filed for bankruptcy itself…
Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly and needs a major overhaul. That is the conclusion of a long-running inquiry into the system by the federal parliament’s corporations and financial services committee released on Wednesday. “Australia’s corporate insolvency system is overly complex, difficult to access, and creates unnecessary cost…
China signalled more economic support measures are imminent after authorities took a small step toward supporting the ailing property market by extending loan relief for developers.Top state-run financial newspapers ran reports yesterday flagging the likely adoption of more property supportive policies, along with measures to boost business confidence.Earlier, financial regulators stepped up pressure on banks…
Jul 12, 2023 6.06pm Businesses holding assets in trusts should operate under the same laws as other corporations when they fall into financial strife to better help creditors get more of the money theyre owed and sooner, a parliamentary committee has recommended. The committee made 28 recommendations, including accepting all the measures proposed in the…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…
Restaurants across the UK are going insolvent at a pace not seen for more than a decade. A total of 3,347 restaurants have been unable to pay their debts in the past two years to March 2023, according to data from the Insolvency Service. During the first three months of 2023, an average of six…
Normal text sizeLarger text sizeVery large text size Sydney accountant Benjamin Carter allegedly misused his position at a brewery owned by NRL star Nathan Cleary and UFC star Tai Bam Bam Tuivasa as part of a $26 million fraud all to feed his pathological gambling addiction. Carters pregnant partner, herself accused of covering up the…
Join our daily newsletter At The Bell to receive exclusive market insights Optima Technology Group (OPA) and its subsidiary, Optima Technology Group (Operations), enter voluntary administration The companys directors appointed Glen Kanevsky and Jason Tracy from Deloitte Financial Advisory as joint and several administrators The directors believe voluntary administration would have the best outcome for…