An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
Thank you for inviting me today to discuss the response to the coronavirus (COVID-19) crisis, with a particular focus on Greece. The pandemic has caused significant disruption and hardship in nearly every aspect of our lives, and it will take time to heal the damage that has been done. The euro area economy has been…
GUWAHATI: Rajya Sabha MP from Congress, Ripun Bora on Tuesday raised the issue of the Nagaon and Cachar paper mills in Parliament urging that the revival of the two public sector entities, which have been non-functional since the past four years, would help stabilise the states economy. The mills have been in a non-functional state…
Still waiting for the building to be rebuilt, residents say many of them lost jobs or suffered pay cuts during the lockdown; request MHADA to expedite the project; developer blames residents for delay in documentationNot a single new brick has been laid on the Bandra East site where Govinda Tower crashed in 1998. Recorded as…
Century 21, New Yorks famed discount department store, has declared bankruptcy and will likely close all of its stores. According to a report byBloomberg, the company announced its fate after insurance providers refused to pay approximately $175 million USD in claims under business interruption policies, coverage retailers have sought to offset losses caused by the…
Listen to this story To support businesses experiencing financial distress throughout COVID-19, the Australian Government introduced measures to relax insolvency and bankruptcy rules in March. These changes were set to draw to a close by 30 September, but have now been extended until 31 December 2020. Many commentators had predicted that the changes would need…
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
A report issued by one of Australias leading credit agencies is warning COVID-19 insolvency relief measures will cause a domino effect of business shutdowns. Picture: NCA NewsWire / David Crosling A report issued by one of Australias leading credit agencies is warning COVID-19 insolvency relief measures will cause a domino effect of business shutdowns. CreditorWatch…
Personal insolvency applications reached a record high in July, according to figures from business and credit risk analyst CRIF Vision-net. The Insolvency Service of Ireland (ISI) received 239 applications for personal insolvency arrangements, debt relief notices and debt settlement arrangements. This is a 125 per cent increase on the 106 applications made in July last…
Wirecards scandalous collapse exposes the weakness of a single EU financial market that leaves regulatory supervision to the member states. Wirecard was one of the great success stories of Europes fintech sector and a German national champion, holding a coveted place in the DAX 30, the countrys main stock index. But since it was suddenly…