The family has raised questions after a father of three went overboard from a cruise ship after losing $9,000 over two nights on the P&O Pacific Adventure. Shane Dixon, 50, first lost $5,000, then borrowed money off his mother and lost another $4,000. Dixons family maintained he was lured by high-roller incentives into losing the…
A 16-year-old Melbourne boy was able to gamble nearly $100,000, including at suburban pubs, despite his mother desperately seeking help, a court has heard. The Melbourne magistrates court heard that when his mother discovered his gambling habits, she began a frantic mission to get him help, only to be repeatedly turned away. In April last…
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…
Dive Brief: Toy company Basic Fun on Friday filed for Chapter 11 in bankruptcy court in Delaware. The company sells its owned and licensed brand portfolio, which includes iconic toys by Lite Brite, Tonka, Knex, Lincoln Logs and the Care Bears, to Walmart, Target, Amazon and amusement parks. Basic Fun said the 2017 bankruptcy of…
The European Commission has approved the restructuring plan of SAS Scandinavian Airlines (SK, Copenhagen Kastrup), stressing that Denmarks and Swedens participation in the process is in line with European Union state aid rules, a company statement said. The effectiveness of SASs chapter 11 plan of reorganisation remains subject to various conditions precedent, including approvals from…
Sequoia Financial Group has announced it is restructuring its business and reducing headcount by 10 per cent. The firm said it will move from having four reporting divisions to having two for FY24-25; the new divisions will be licensee & adviser services and legal & administration services. Licensee and adviser services will include Interprac Financial…
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…
Over 80% of industry experts expect volume of restructurings to continue rising Regulations favoring liquidation over rehabilitation seen as biggest challenge, with survival further hampered by inexperienced management teams and rising interest rates North America and Europe experiencing significant restructuring WILMINGTON, Del.–BUSINESS WIRE– The volume of new corporate restructuring mandates is set to continue rising…
Advertorial ARYZAs new head of corporate insolvency, Tom OConnor. Aryza, a leading provider of financial software solutions, announces the appointment of Tom OConnoras its Head of Corporate Insolvency. With an extensive career spanning over a decade in the insolvency sector and a proven track record in product development and client engagement, Tom brings invaluable experience…
The Australian startup ecosystem is facing its next wave of financial challenges. With a 54% decline in capital raised by Australian startups in 2023 and a 14.5% rise in insolvencies, Australian startups are financially strained. For those operating in the capital-intensive tech sector in particular, the time between funding rounds is harder than ever. Tech…