Rise of the non-banks will generate competition – The Australian Financial Review

Bankruptcy

Non-banks have competitive advantages and disadvantages vis-a-vis licensed deposit-takers. Tanya Lake One of the most attractive investment opportunities in the years ahead could be non-bank lending in its various guises, including technology-enabled peer-to-peer (P2P) lenders. As regulators sensibly shrink excess leverage and risk-taking in the banking sector, they will inevitably open the door to heightened competition from…

Insolvency firms ready for Peabody Energy Australia – The Australian Financial Review

Bankruptcy

Insolvency and restructuring firms are circling Peabody Energy’s Australian arm, with the unit expected to appoint advisers and push ahead with a restructure as early as this week.  The United States-listed Peabody Energy flagged that it was on the verge of Chapter 11 bankruptcy last month and sources told Street Talk the situation was poised to…

KLEENMAID IN COURT: How a web of loans brought it down – The Sunshine Coast Daily

Bankruptcy

A DELOITTE insolvency expert has told a court how the loans between Kleenmaid-run companies brought the company down. Richard Hughes, a Deloitte financial advisory partner, told the Brisbane District Court on Monday a web of loans ensured that when one Kleenmaid-run company was declared insolvent, the many others collapsed with it. Former Kleenmaid directors Andrew…

Bankrupt businessman Simon Stokes’ estranged wife Conach tells court she wants to be added to creditors list – Irish Independent

Bankruptcy

Published 11/04/2016 | 12:38 Simon Stokes and Conach Stokes BANKRUPT businessman Simon Stokes’ estranged wife Conach has told the High Court she wants to be added to his list of creditors as part of his bankruptcy process. Share Go To “I just want you to make you aware about the situation and how he has…

The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless – Center for Research on Globalization

Bankruptcy

Exposing tax dodgers is a worthy endeavor, but the limited hangout of the Panama Papers may have less noble ends, dovetailing with the War on Cash and the imminent threat of massive bail-ins of depositor funds. The bombshell publication of the Panama Papers, leaked from a Panama law firm specializing in shell companies, has triggered…