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,…
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…
The widow of underworld figure Carl Williams has been declared bankrupt by the Federal Court, after it was reportedly revealed there was almost $300,000 owing in unpaid taxes. The court on Tuesday ordered that the estate of Roberta Merieca Williams be sequestrated, following an application by the deputy commissioner of taxation. Carl Williams widow Roberta…
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
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…
Michael Neumeister has joined Cooley as a partner in the firms business restructuring practice and global litigation department in Los Angeles, the firm said Tuesday. Neumeister will support clients in financial distress on a range of matters, including in out-of-court restructurings and as debtors in Chapter 11 cases in California and across Cooleys global platform,…
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 The volume of new corporate restructuring mandates is set to continue rising over the next…