This article attributes to the entire Australian Restructuring team. Overview There has been a growing appetite for corporate insolvency law reform in Australia in the last 18 months. In 2021, public consultations were completed on improvements to creditors schemes of arrangement and the treatment of insolvent trusts, and there was an independent review of the…
A building company that recently collapsed owes creditors in excess of $13 million while a handful of customers claim they are set to lose the sum total of the money they paid as a deposit. At the end of last month, the Victorian Supreme Court ordered residential builder Apex Homes Australia Pty Ltd to go…
By Brett Lackey For Daily Mail Australia Published: 09:55 AEDT, 12 March 2024 | Updated: 20:44 AEDT, 12 March 2024 The debts of a failed group of manufacturing companies have ballooned to nearly $80million in what is set to be one of the year’s biggest corporate collapses. GDK … Read the full article at: https://www.dailymail.co.uk/news/article-13185045/GDK-Group-collapses-owing-nearly-80million.html
You could improve your chances of credit card debt forgiveness by taking a few extra steps. Getty Images As inflation climbed to its highest point in more than four decades in mid-2022, the Federal Reserve began increasing its target federal funds rate to try and temper it. Rate hikes then became the norm until the Fed paused rate…
During the pandemic, many jurisdictions amended their insolvency laws to lessen the impact of the pandemic. In some cases, these amendments operated on a temporary basis until the impact of the pandemic abated. In other cases, more permanent reforms were introduced to improve insolvency legislation generally. In Australia, as noted in the recent report of…
Gurugram-based debt relief startup Freed has raised $7.5 million in a fresh funding round, the company said in a release today.Elevate Your Tech Prowess with High-Value Skill Courses Offering College Course Website IIT Delhi IITD Certificate Programme in Data Science & Machine Learning VISIT IIM Kozhikode IIMK Advanced Data Science For Managers VISIT IIM Lucknow…
The Parliamentary Joint Committee on Corporations and Financial Services (PJC), chaired by Senator Deborah ONeill, has handed down its final report into the effectiveness of Australias corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy. The Committee has made some far-reaching recommendations in the Final Report,…
One in 10 Americans carry medical debt, while 2 in 5 are underinsured and at risk of not being able to pay their medical bills. This burden crushes millions of families under mounting bills and contributes to the widening gap between rich and poor. Some relief has come with a wave of debt buyouts by…
Photo: RNZ / Rebekah Parsons-King Squeezed household budgets are putting a big dent in how much money people can spend at the shops and retailers are struggling to stay afloat, some closing doors. Retailers are looking at another tough year ahead, with the latest data showing consumer spending – on everything from food to big…
PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal. This decision comes in the wake of a controversy where a former partner leaked government tax plans, leading to profound repercussions for the firm. The latest reduction…