Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under verification”, said…
Debt Justice welcomes the decision by the financial regulator to ban debt packager fees. Debt packagers receive commission for referring people in debt to fee-charging solution providers. Referral fees therefore incentivise debt packagers to promote Individual Voluntary Agreements (IVAs) as a solution to people in debt, over other, often cheaper and more appropriate, solutions, such…
SponsoredAlternative LendingDigital BankingSavings and InvestmentCrypto Managing an invocation is high-pressure work that requires expertise, speed, and clarity. Having successfully managed two complex invocations in recent months, we explain the key steps to making the process as streamlined and effective as possible. Owain Chambers, Account Director for Capital Markets at fintech leader Lenvi, reports. Image source:…
An artist driven by reckless desires, so famous he went by one name only. He lived large, went bankrupt and was buried in an unmarked grave. That’s not a description of some contemporary painter – it’s Rembrandt, living in 17th century Amsterdam. The most comprehensive exhibition of the Dutch master’s work held in Australia in…
Green Packet Berhad was once lauded for its market value exceeding US$1 billion. But, it seems its glory days are long over. Its founder, Puan Chan Cheong aka CC Puan (), has just been declared bankrupt by the Kuala Lumpur High Court! Puan Chan Cheong had reportedly received bankruptcy notices, which were filed on 24th…
A popular Sydney restaurant has collapsed after the business could not afford to pay a substantial gas and electricity bill. But in a bizarre move, the restaurant has told patrons that it has temporarily shut down due to a water leak. On Wednesday, the Supreme Court of Victoria ordered Rahman Enterprise Manly Pty Ltd to…
End of an era? Popular Australian restaurant chain shuts down two restaurants after the pair went bankrupt Hog’s Breath Cafe closes two locations Tuggerah and Coffs Harbour venues to close By Olivia Day For Daily Mail Australia Published: 10:18 AEST, 1 June 2023 | Updated: 12:57 AEST, 1 June 2023
Woman looking at bills Debt advisors will no longer be allowed to receive a fee for referring people to debt solution companies. The Financial Conduct Authority (FCA) banned the fees after finding some companies were putting them ahead of customers’ best interests. The average fee advisors received for an individual voluntary arrangement (IVAs) referral in…
Getty Images By Vishala Sri-Pathma Business reporter Debt advisors will no longer be allowed to receive a fee for referring people to debt solution companies. The Financial Conduct Authority (FCA) banned the fees after finding some companies were putting them ahead of customers’ best interests. The average fee advisors received for an individual voluntary arrangement…
The repercussions of the pandemic and rising cost of living has claimed another victim in the hospitality industry, forcing an iconic Australian restaurant to shut its doors in two locations across NSW. Hogs Breath Cafe in Tuggerah and Coffs Harbour reportedly entered liquidation on Friday, after temporarily closing the venues for some time in the…