Former Rare Coin Company director Rob Jackman attends court today. Picture: Laurie Benson Albany AdvertiserPicture: Albany Advertiser The former director of the collapsed Rare Coin Company has declared he is bankrupt when facing charges he allegedly stole $1.8 million from investors before his company collapsed four years ago. Robert Colin Jackman made brief appearance in…
Ryanair will not go ahead with a planned bid for troubled Italian flag carrier Alitalia as it continues to grapple with problems that have forced it to cancel flights through the winter. The airlines shares surged 3.87 per cent to 17.06 on Wednesday, adding 600 million to its value, despite news that it planned to…
NEW YORK (Reuters) – Creditors of Puerto Ricos bankrupt power utility said on Wednesday that they had offered the utility a new $1 billion loan and a discount on a portion of the existing debt to help recovery efforts after Hurricane Maria devastated the island last week. The commitment would reduce the Puerto Rico Electric…
The man who could be in line to replace Malcolm Roberts if the One Nation senator is booted from Parliament shared social media posts suggesting Barack Obama was secretly a Muslim and praising Russian President Vladimir Putin. With observers expecting Senator Roberts election to be struck out, the spotlight has swung onto One Nations third Queensland…
NEW YORK (Reuters) – Creditors of Puerto Ricos bankrupt power utility said on Wednesday that they had offered the utility a new $1 billion loan and a discount on a portion of the existing debt to help recovery efforts after Hurricane Maria devastated the island last week. The commitment would reduce the Puerto Rico Electric…
While there has been a substantial rise in business collapses, new data suggests they are not causing a spike in personal insolvencies. Australian Financial Security Authority (AFSA) has released details of the root causes of personal insolvencies in Australia last financial year, and noted that most personal insolvencies are not business related. In [financial year]…
BERLIN (Reuters) – Lufthansas (LHAG.DE) supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlins creditors have selected Lufthansa and British budget carrier easyJet (EZJ.L) to negotiate over a carve-up of its…
New data from the Australian Financial Security Authority (AFSA) has revealed that excessive credit use has overtaken unemployment/loss of income as the most common cause of personal insolvency. The government agencys research found that of a total 25,225 cases of non-business related personal insolvency for the 2016-17 period, 8,870 (slightly over 35%) were due to excessive…
The job of an insolvency resolution professional (IRP) is not all about exercising power just because he or she is is empowered, said Ashish Chhawchharia , partner restructuring services, Grant Thornton Advisory , which is now engaged in supporting ongoing insolvency proceedings at many firms including two of the large dirty dozen cases -Alok Industries…
By JAINDI KISEROMore by this Author I am well aware that the obsession of the moment in this country right now is politics. But I have decided to return to the issue of the government-backed bailout of Uchumi Supermarkets Ltd. I am compelled to do so in reaction to comments and inquiries by suppliers and…