A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…
It has been a catastrophically bad year for shale, and few (if any) could have predicted the industrys struggles this year. The most notable of those struggles came in April when the West Texas Intermediate crude benchmark plunged below zero and into uncharted territory. The previously unthinkable price crash was spurred by a series of…
ANCHORAGE, Alaska (AP) – The largest rural airline in Alaska has declared bankruptcy and laid off more than 1,000 workers but wants $250,000 in bonuses to be awarded to its chief executive and other employees. Alaska Public Radio reported that RavnAir Group filed the request Tuesday in Delaware bankruptcy court. Lawyers for the company say…
In recent years, the lobby group for directors of large companies has been increasingly whingeing about various avenues for company directors to be held accountable. Its a bizarre position; highly paid people who hold themselves out as experts, demanding protection from the consequences when they fail to act reasonably. They have seized upon the Covid-19…
The privatisation of Malaysian clubs is expected to lead to harsher, more personal repercussions for the failure to pay players and staff. The club privatisation drive currently being pushed through by the Malaysian FA (FAM) will introduce several beneficial changes in Malaysian club’s operations, according to its general secretary Stuart Ramalingam. In a press briefing…
Allan Cadman of R3 Now residents with debt problems are being urged to seek advice at an early stage. More than 8 in 10 insolvency and restructuring professionals questioned in a survey by their trade body R3 say they expect personal insolvency numbers to increase within the next 12 months. Of these, the majority, 62…
ANCHORAGE, Alaska (AP) The largest rural airline in Alaska has declared bankruptcy and laid off more than a thousand workers but wants to award $250,000 in bonus money to its chief executive and other employees. Anchorage-based RavnAir Group filed the request Tuesday in Delaware bankruptcy court, arguing that the bonuses are justified because of long…
The FSA Group Ltd (ASX: FSA) share price today surged higher after the company reported better than expected full year results. The FSA share price was up 15.56% to $1.04 by the markets close. What FSA Group does FSA Group is a provider of debt solutions and direct lending services to individuals in Australia. FSA…
FRANKFURT: Deutsche Boerse AG will remove Wirecard AG from its benchmark DAX index ahead of a regular quarterly review following the collapse of the payments company amid allegations of accounting fraud. The decision was taken following consultations with market participants conducted after Wirecard declared insolvency in June. The results favoured immediate removal of bankrupt companies…
Fri 14 August 2020 – 6:27 am News By Guest Author Government measures to prop up zombie businesses through the pandemic could actually be harming Australian small businesses, with new data showing company wind-ups have all but ceased in the past quarter. Prushka Fast Debt Recovery revealed through data sourced from court records that the…