WeWork, the once-booming office workspace startup, filed for Chapter 11 bankruptcy on Nov 6., setting the stage for a reorganization of the companys obligations. Despite being buoyed by venture capital, the company suffered a series of setbacks ranging from a disastrous attempt at an initial public offering in 2019 to the COVID-19 pandemic devastating the…
Australia’s northernmost sugar mill has been placed into voluntary administration, despite a $45 million taxpayer-funded handout. Key points: Mossman Sugar Mill is one of the biggest employers in the small town The mill has entered into voluntary administration due to “financial distress” The grower-owned mill has received $45 million in taxpayer funds in recent years…
We discuss the Federal Court of Australias judgment and distil insights to assist trustees in bankruptcy navigate difficult estates and deal with recalcitrant bankrupts. The Federal Court of Australia has dismissed an application by Salim Mehajer, the high profile former Deputy Mayor of Auburn City Council, NSW, to replace his trustee in bankruptcy.[1] The Courts…
Descrease article font size Increase article font size BDO Debt Solutions, Talk to the Experts at 12 pm on QR Calgary. Tune into QR Calgarys Talk to the Experts this Saturday at Noon, as Nicole Olsen, licensed insolvency trustee with BDO Debt Solutions shares practical tips and tools to help you manage your debt. Many…
21 November 2023 The Albanese Labor Government is partnering with industry stakeholders and the financial counselling sector to implement an innovative industry funding model to ensure increased access to financial counselling services for Australians. Under the new Industry Funding Model for Financial Counselling, the Government has secured agreement for three-year funding commitments from industry, totalling…
Greater system flexibility and microservices architecture means hyper-personalized recommendations for people in UK needing debt advice LONDON, November 20, 2023–(BUSINESS WIRE)–Global analytics software leader FICO today announced that StepChange, the UKs leading debt advice charity, will use FICO Platform to help assess people in problem debt. StepChange will use the flexibility and hyper-personalisation of the…
Sidley represented Sunac China Holdings Limited (Sunac) in the restructuring of its US$10.2 billion offshore debt. Sunac and its subsidiaries are principally engaged in the property development and property investment business in the Peoples Republic of China, with leading capabilities in Chinese real estate, cultural tourism, urban development, and integrated industrial operations. The complex transaction…
A debt relief company can help you reduce what you owe on credit cards by negotiating a lower settlement figure. Getty Images/iStockphoto Thanksgiving is just days away, and with it, the 2023 holiday season. While the holidays can be fun, joyous and loving times, they can also be expensive. And they’re likely to be even…
Interest rates for debt consolidation loans are high to end 2023, and theyll likely stay high for the near future. With increased costs, comparing loan options is essential to qualify for the best possible rates on a debt consolidation loan. Debt Consolidation Loan Costs A wide range of economic factors have pushed interest rates higher…
The Government Accountability Office (GAO) is calling out the Education Department for its failure to implement processes to detect and prevent fraud in its student debt relief program that launched in October 2022. The Biden administrations student loan debt relief program was slated to provide up to $20,000 in relief to borrowers who had incomes…