By Violet Li Affected families by the collapse of the Victorian builder Montego Homes are reeling from losing their deposits and their dream houses in the Casey South region. South Melbourne builder Montego Homes went into voluntary administration in January, with Sam Kaso and Shaun Matthews of insolvency service Cor Cordis appointed as administrators to…
Liubomyr Vorona / Getty Images/iStockphoto Millions of Americans are trapped in debt, often in very different ways. It could be student loan debt, credit card debt, an untenable mortgage or a massive auto loan. Whatever form your debt takes, its necessary for your financial wellbeing to pay it down or, ideally, wipe it out altogether.…
The full impact of the financial collapse of a key arm of Department of Defence construction supplier St Hilliers remains unclear after the local firm called-in financial administrators for the second time in a decade after hitting the wall. Whatever the outcome, its not great. Construction firms across the nation are buckling under the pressure…
Barclays BCS inconsistent top-line performance is a major near-term headwind amid a challenging economic scenario. However, the banks restructuring initiatives continue to help manage operating expenses. Barclays has been witnessing volatility in both net interest income (NII) and net fee, commission and other income in the last few quarters, mainly on the back of a…
A new cooperation arrangement for mutual recognition of and assistance to cross-border corporate insolvency and debt restructuring proceedings has been established between Mainland China and Hong Kong (the Cooperation Arrangement). The Cooperation Arrangement is provided in a Record of Meeting on Mutual Recognition of and Assistance to Bankruptcy (Insolvency) proceedings between the Courts of the…
This years Waste Management Phoenix Open is the first since the company DraftKings opened a 13,000-square-foot sportsbook at TPC Scottsdale. An expert says the addiction known as gambling disorder affects about 1% to 2% of the population. A ticket is needed most days to eat, drink and watch the Open from inside the posh sportsbook…
Australia: a nation of sandy beaches, unique wildlife, and an undeniable love for sports. For international students, it presents an opportunity to experience a new culture, quality education, and live life like an Aussie. However, theres an underlying issue many may not initially see: the prevalence of gambling in Australian culture. For some, a casual…
From afar, China Evergrande Group had all the makings of a killer distressed-debt trade: $19 billion in defaulted offshore bonds; $242 billion in assets; and a government that appeared determined to prop up the countrys faltering property market. So US and European hedge funds piled into the debt, envisioning big payouts to juice their returns. What they got instead…