Whats going on here? German company insolvencies soared by 41% in the first half of 2024, with real estate, automotive, and mechanical engineering firms bearing the brunt. What does this mean? The rise in insolvencies is a stark reminder of the sustained financial strain German companies are under. In the first six months of 2024,…
Insolvencies across the board have peaked at 1,711 in May 2024, up by 59.9 per cent from last year. This is according to new data from the Australian Securities and Investments Commission (ASIC), which show that insolvency rates have been steadily increasing post-COVID. First-time insolvencies also hit a new peak in May, up 383 from…
July 5, 2024 Photo: Depositphotos.com Doctors chain Zorg BV, a part of Co-Med, has been declared bankrupt at a court in Maastricht, after weeks of uncertainty. The chain, which served 50,000 patients, was effectively brought to a standstill two weeks ago when insurers stopped working with it. They feared that shortages meant that its patients…
July 5, 2024 Photo: Depositphotos.com Doctors chain Zorg BV, a part of Co-Med, has been declared bankrupt at a court in Maastricht, after weeks of uncertainty. The chain, which served 50,000 patients, was effectively brought to a standstill two weeks ago when insurers stopped working with it. They feared that shortages meant that its patients…
Key Points Bankruptcy lasts for three years but the consequences can last much longer. Bankruptcy wont release you from all your debts. Always seek the advice of a financial counsellor. Bankruptcy is a legal process that helps you regain financial control by releasing you from most of your debts. It allows you to start fresh.…
By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 12:18 AEST, 9 July 2024 | Updated: 13:15 AEST, 9 July 2024 Aussies planning an overseas holiday may find they can’t leave Australia if they have unpaid debts of $10,000 or more, a leading pe… Read the full article at: https://www.dailymail.co.uk/news/money/article-13613887/Personal-finance-effie-zahos-debt-bankruptcy-kill-overseas-holiday.html
By Bella Craig of RNZ Children as young as 11 are racking up thousands of dollars in debt because of online gambling, according to a support service. The head of Mapu Maia said it had had an increase in school counsellors and social workers reaching out with concerns of problem online gambling among secondary school…
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…
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;…