SKEcoplantheadquartersinSeoul(ByDae-chulLim) SK Ecoplant Co., a South Korean construction engineering and waste management company, is set to merge a profit-making technology subsidiary of the parent SK Group as the countrys second-largest conglomerate is seeking to streamline its business to focus on promising growth sectors. The restructuring, along with SK Ecoplants merger with SK Materials Airplus Inc.,…
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…
In a society that normalizes debt, most people have multiple repayment responsibilities every month: credit cards, mortgages, car loans, student loans, lines of credit and personal loans. Personal finance isn’t widely taught in schools, but managing your money is an essential life skill. Spreadsheets and apps are helpful as tools to add inputs but often fall…
It has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didnt eventuate. At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow…
The Australian Government will introduce reforms to ensure Australia’s bankruptcy system is fairer and operates in the best interests of all Australians. Key changes include: Increasing the threshold for involuntary bankruptcies from $10,000 to $20,000, with the threshold to be indexed each year; Increasing the timeframe in which a debtor may respond to a bankruptcy…
Normal text sizeLarger text sizeVery large text size The number of people entering personal insolvency in the year to June 30, 2024 was 20 per cent higher than the preceding financial year, as more people find themselves unable to repay debts. Personal insolvency includes bankruptcies and debt agreements, and a relatively small number of insolvency…
The involuntary bankruptcy threshold will lift from $10,000 to $20,000, Attorney-General Mark Dreyfus says, giving debtors more breathing room before their creditors can launch court action. On Monday, Attorney-General Dreyfus said the federal government will introduce a suite of reforms to the bankruptcy system, bringing it up to speed with the contemporary economic landscape. In…
Australia will see a raft of reforms to the national bankruptcy system introduced so that debtors involved in personal insolvency matters receive fairer outcomes. On Monday, Attorney-General (A-G) Mark Dreyfus said key changes would lift the stigma associated with filing for bankruptcy. The changes include increasing the timeframe in which a debtor may respond to…
Jul 7, 2024 10.30pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? The threshold for involuntary bankruptcy will rise to $20,000 and bankrupts will have their official records cleared after seven years, under an overhaul of personal insolvency laws being unveiled…
Victoria’s Supreme Court of Appeal has wiped a punter’s $150,000 debt after ruling paperwork failures rendered the bets invalid. Bookmaker David McLauchlan took action against punter Allen Ng after the punter incurred hefty losses between February and April 2020. The County Court ruled in McLauchlan’s favour in 2022, ordering Ng to pay the debt and…