Key Points A HELP loan defers your tertiary course fees until you find a job. You wont start paying off your loan until your income reaches $51,550 a year. To be eligible you must be an Australian citizen or hold specific visa or residency status. Unpaid HELP debts grow in line with the Consumer Price…
The National Company Law Tribunal (NCLT) has ordered liquidation of jewellery retailer Gitanjali Gems, promoted by absconding diamantaire Mehul Choksi, under Section 33 of the Insolvency and Bankruptcy Code, 2016. The bench also appointed Santanu T Ray as the liquidator, who will complete the liquidation process as per the provisions of the IBC, 2016, according…
Feb 20, 2024 5.00am Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? A growing number of larger technology companies are scrambling to restructure their operations to avoid insolvency, as stubbornly high labour costs and a tough capital-raising environment mean directors are…
A powerful software developed by the Commonwealth Secretariat is being deployed in Nigeria to transform how the country manages its public debt portfolio of US $114.35 billion while enhancing transparency. At the request of the Government of Nigeria, the Commonwealth Secretariat hosted a two-week training workshop for 15 Nigerian debt managers at its headquarters in…
An expert committee appointed by the Insolvency and Bankruptcy Board of India (IBBI) has recommended the introduction of a voluntary mediation framework as a dispute resolution mechanism under the Insolvency and Bankruptcy Code (IBC) for faster out-of-court settlement of disputes between lenders and defaulting borrowers. The committee observed that mediation could provide a cost-effective way…
If a company is unable to pay its debts, it is deemed insolvent. Whether it is due to a cash flow crisis or a loss of a business contract, data shows insolvencies are on the rise. Why insolvencies are at an all-time high Corporate insolvencies in England and Wales have reached their highest level in…
More than nine months after Go First filed for bankruptcy in May 2023, its rival SpiceJets CEO Ajay Singh and EaseMyTrip co-founder Nishant Pittis Busy Bee Airways have submitted a bid for the bankrupt airline. Their bid, which is reportedly of Rs 600 crore, is competing against a little-known Sharjah-based company named Sky One,whose bid…
Asahi recently announced its FY2023 full-year financial results, reporting 6.8% year-on-year growth in revenue to JPY2.77tn (US$18.4bn) and 3.9% year-on-year growth in core operating profits to JPY263.7bn (US$1.75bn). The firm attributed the revenue growth to unit sales price increases and premiumisation. Asahi recently completed a wide-scale restructuring of its business governance, establishing a six-person Executive…
Construction Labour hire company Buildhub has gone into liquidation. Photo / 123rf Construction labour hire firm Buildhub has gone into liquidation. Gareth Russel Hoole of Ecovis KGA was appointed liquidator on Friday by shareholders by special resolution, according to the Companies Register. The company is known for hiring migrant workers and is an approved employer…
She started with $750 and hit a hot streak last summer that stretched over six days. She played round after round of online casino games until her winnings hit $500,000. The windfall would make up for every bad bet and pay off all she owed. Fischer, a 41-year-old mental-health professional and suburban homeowner with two…