A country medical service facing liquidation has angered creditors by offering them 30 per cent of what they are owed to escape a half-a-million-dollar debt while pushing ahead with plans for a new clinic. Key points: I-Medical Australia is facing liquidation after racking up almost half a million dollars in debt in three months Doctors who worked…
Getting out of debt can be a difficult process. While debt consolidation can help those wanting to pay off credit card debt or other types of debt, sometimes you need professional help. Two popular options are debt settlement companies and debt management services, but they each offer very different paths to solvency. Here’s what you…
Sovereign loans are an important source of financing for countries around the world. Borrowing can enable governments to support key areas for growth and development, such as healthcare, education, infrastructure and the green transition. Yet, managing public loans can be complex and challenging with potential impact on countries finances and their people. Errors and inaccuracies…
Illegal phoenixing is a deceptive manoeuvre used by some businesses to sidestep their obligations, leaving creditors, employees, and other stakeholders at a loss. It involves deliberately transferring assets from an indebted company to a new one, leaving the former to face insolvency. Such predatory practices not only damage the economy but also erode trust in…
Shocking new statistics show that creditors owed money from a company collapse have no choice but to write off their losses completely in the overwhelming majority of cases. The Australian Securities and Investments Commission (ASIC) published its annual corporate insolvency statistics earlier this week, revealing that small and medium sized business have dominated the external…