The Pension Loans Scheme is a federal government initiative to help Australian retirees to supplement their income. Many Australian retirees have the bulk of their assets tied up in residential property. They are often said to be asset rich but cash poor. Australian property prices have had a strong record of growth over the past…
A Brisbane banker driven to the wall by a failed investment in a once prominent Darling Downs restaurant used his position at a Logan bank to forge a $23,000 cheque to satisfy a family friend hounding him for repayment of a personal loan. Parkinson man Andrew Stanley Bauer, 51, a former consultant with Suncorp Browns…
Australia 1 September 2020 Most businesses are struggling to engage customers during the global health pandemic. The SMEA Digital Transformation Grant helps Australian small businesses to improve their online presence and attract loyal consumers. Not-for-profit association SMEA created this grant for businesses to extend their digital reach and boost revenue in 2020 and beyond. Successful…
Alligator Bloods colourful managing owner is organising a Men In Black style private security detail to shadow the Group I winners every move during the Sydney spring, including a motorcade to escort the galloper to the races. Allan Endresz, who was declared a bankrupt last week for the fourth time in his ongoing multi million…
With more SMEs and NFPs under financial stress, directors must be alert to the signs of insolvency. As economic activity ramps up following COVID-19, directors of many organisations are facing brutal business realities. After thebushfire disastersandthe lockdown, many are in significant distress and the outlook for cashflow is grim. Following on from long days and…
In this year of coronavirus and stay-at-home orders, quite a few companies in the retail sector have declared bankruptcy, including Modells, J. Crew, Neiman Marcus and the parent company of Mens Wearhouse. Just because a company declared bankruptcy doesnt mean its going out of business; bankruptcy is often used by companies to reorganize their debts…
Compiled by C. ARUNO, SIRA HABIBU and R. ARAVINTHAN A FAMILY of four in Tamil Nadu, India, went into hiding in a mountain because they were afraid to take the Covid-19 test, Makkal Osai reported. When a farmer in the city of Salem was found to have been infected with the virus, health officials tested…
I REFER to the latest bankruptcy threshold of RM100,000 in the recently amended Insolvency Act 1967 (Act 360). Raising the threshold in order to prevent bankruptcy is only part of the solution. There has to be an effective mechanism to prevent and rescue people from bankruptcy as well. Although 13 amendments have already been made…
Albury businessman and prominent racehorse owner Allan Endresz has been declared bankrupt for a fourth time, but is refusing to concede defeat in his marathon legal battle with the federal government. His latest legal setback came this week in the Federal Court where the Commonwealth had applied for a sequestrian order and Justice Jacqueline Gleeson…
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…