Senator Weber and Representative Javadi are peddling a false narrative about a mill closure in Banks, on behalf of the timber industry. The facts: Hampton Lumber, headquartered in Portland, made a business decision to invest $150 million into expanding its mill in Willamina thanks to state and local tax breaks. At the same time, it…
Stocks got a bump late in the day after the US Treasury announced it would borrow $55 billion less than projected last quarter. It now expects to borrow just $760 billion in privately held net marketable debt, assuming an end-of-March cash balance of $750 billion. Meanwhile, the Treasury also noted it would need to borrow…
The number of people needing breathing space from their debts jumped by 25% in 2023 compared with the previous year. Across England and Wales, there were 88,390 registered breathing spaces in 2023, comprised of 86,928 standard and 1,462 mental health breathing space registrations, the Insolvency Service said. A standard breathing space is available to people…
By Eliza Mcphee For Daily Mail Australia Published: 15:57 AEDT, 29 January 2024 | Updated: 19:34 AEDT, 29 January 2024 Sara Lee will remain afloat and in Australian hands in a major development after the much-loved frozen desserts brand plunged into administration three months … Read the full article at: https://www.dailymail.co.uk/news/article-13017783/sara-lee-saved-administration.html
The quarterly company insolvency statistics have been released, covering Q4 2023 (October to December). Since this dates the final quarter of the year, an annual summary can be noted: 2023 saw the highest annual number of company insolvencies since 1993. The total of 25,158 registered company insolvencies is broken down into: 20,577 Creditors Voluntary Liquidations…
Those who have entered the NPL status will be helped to repay their debts within five years, and the banks will reduce their interest rate to 15% per annum. Meanwhile, penalties for repaying early will also be waived for those who have entered the debt restructuring programme, Phayong added. He said customers can call their…
Former Wallaby Phil Waugh is the Rugby Australia CEO. (Photo by Daniel Pockett/Getty Images for Rugby Australia) Rugby Australia will assist the cash-strapped Melbourne Rebels in the 2024 season. The Rebels recently went into administration. Rugby Australia CEO Phil Waugh says they are “committed to ensuring” the Rebels play Super Rugby in 2024. For more…
WA Department of Mines, Industry Regulation and Safety Building and Energy is advising property owners affected by the liquidation of FTD Construction Pty Ltd to contact their home indemnity insurance (HII) provider, QBE Insurance, if they have not already done so. The Perth building company appointed liquidators yesterday (29 January 2024). In September 2023, the…
The Melbourne Rebels have entered voluntary administration, but will get the opportunity to play in the 2024 Super Rugby Pacific season thanks to Rugby Australias backing. ADVERTISEMENT Rumours and reports around the clubs financial status had been evolving over the offseason and ultimately, the club made the decision on Monday night to enter voluntary administration.…
The Australian Taxation Office (ATO) has taken a haircut on $2.11 million owed by the companies behind four of Surfers Paradises biggest nightclub and dining venues after accepting an offer of about 22.5c in the dollar for the debt. The venues, owned by the Gold Coast-based Artesian Hospitality Corp, have been struggling for the past…