Last week I scored a trifecta, managing to upset people in three ways. First, for my supposed anti-immigration stance, second, for hating on Elon Musk (the bromance is still strong with some readers, even though his car company is as bad as the rest in terms of spying on drivers) and, finally, from animal lovers…
Australia has not been immune to the economic impacts of global financial and geopolitical events. The recent global economic downturn has brought about a heightened focus on financial stability and risk management in Australian businesses. Sponsors and financiers alike are now navigating a complex economic terrain marked by: volatile markets; supply chain disruptions; asset re-valuations;…
With businesses collapsing at levels not seen since 2012, Grant Thornton Australias John McInerney suggested that the small business restructuring scheme could be a more favourable option than a payment plan. He made the comments ahead of his session at the ACE24 Accounting Conference and Expo 2024, where he will unpack how accountants can help…
What is the Small Business Restructuring process? Australias Small Business Restructuring (SBR) process is a formal insolvency process introduced by the Federal Government in 2021 to give small businesses the opportunity to restructure their debts while directors remain in control of the business, under the supervision of a restructuring practitioner. The SBR process involves a…
Best Buy, the US equivalent of Australias JB Hi-Fi, has reportedly carried out another round of layoffs and job restructurings last week. The consumer electronics and appliance retailer cut some of its sales staff and reduced the pay for others, reported The Verge citing current and former employees. The layoffs appeared to have mostly targeted…
By Najiyya Budaly (June 17, 2024, 3:21 PM BST) — The Ukraine government, advised by White & Case LLP, appealed on Monday to bondholders to help restructure its $19.5 billion of eurobond debt before a payments freeze it agreed with international creditors expires on Aug. 1…. Read the full article at: https://www.law360.com/articles/1848502/white-case-led-ukraine-seeks-debt-relief-by-aug-deadline
June 14, 2024 PARTICIPANTS: Moderator: HUONG LAN PINKY VU Communications Officer Speakers: PETER BREUER Senior Mission Chief for Sri Lanka KATSIARYNA SVIRYDZENKA Deputy Mission Chief for Sri Lanka SARWAT JAHAN Resident Representative in Sri Lanka * * * * * T R A N S C R I P T MS. VU: Good morning, everyone.…
Brett McGrath, President of the Law Society of NSW, has renewed calls for a debt relief scheme to incentivise lawyers to practice in rural, regional, and remote (RRR) areas. During a visit to Lismore, which experienced a significant exodus of lawyers following the devastating floods in 2022, McGrath highlighted the urgent need for legal services…
On the 24 September 2020, the Australian Government announced changes to Australias insolvency framework to better serve Australian small businesses, their creditors and their employees. The changes introduced new processes suitable for small businesses, reducing complexity, time and costs for small businesses. Effective from 1 January 2021, these are the most significant reforms to Australias…
Germany’s Federal Statistical Office (Destatis) on Friday said 5,209 companies filed for bankruptcy in Germany in the first three months of 2024 with the trend expected to continue. Experts think the number of corporate insolvencies in Germany will increase to about 20,000 cases this year as part of a longer-term pattern. How do the figures stack…