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’…
Australians who activated hardship programs from their energy provider should be able to access them for the rest of the year after a major ruling from a key advisory body. The Australian Energy Market Commission (AEMC) on Thursday declared most energy providers could defer their network bills for six months giving them the financial breathing…
Just days after their Belgian counterparts, the Dutch constituents of FNG have also been declared bankrupt. According to the fashion group, its chains like Miss Etam, Expresso and Claudia Strter will stand a better chance of a second life this way. Several candidates When the Belgian branches filed for bankruptcy, the Dutch chains settled for…
Just days after their Belgian counterparts, the Dutch constituents of FNG have also been declared bankrupt. According to the fashion group, its chains like Miss Etam, Expresso and Claudia Strter will stand a better chance of a second life this way. Several candidates When the Belgian branches filed for bankruptcy, the Dutch chains settled for…
Crown prosecutor Raelene Sharp opposed bail, arguing the possible risk of flight and interference with witnesses. She told the court Mr Alex, a declared bankrupt, has allegedly run businesses using a wide network of people to operate companies “on his behalf … from a paper perspective.” His access to such networks pointed to “means and…
The Insolvency, Restructuring and Dissolution Act 2018, (Act No.40 of 2018, the Act) , which came into force on 30 July, marks, for now at least, the final stage in what has been a far-reaching overhaul of Singapores insolvency and debt restructuring regime. This process had started in 2015 with some amendments to the Bankruptcy…
Unsecured creditors from across the cotton industry are being warned to expect to be repaid maybe just a fifth of their losses following the collapse of Chinese-owned merchant Weilin Trade owing about $58 million. Latest estimates suggest about 195 cotton growers, brokers, merchants and other service providers have lost money after Weilin bought cotton for…
August 05, 2020 16:35 ET | Source: Young, Marr & Associates Law Firm PHILADELPHIA, Aug. 05, 2020 (GLOBE NEWSWIRE) — Money is fragile, and when we are in possession of something fragile, we become worried. The finances are safe when nothing surprising happens, but when a sudden outbreak pandemic like corona knocks at the door,…
EXCLUSIVE: Government to extend job-saving insolvency moratorium | Sky News Australia The best award-winning journalists with unique and exclusive insights. Real news, honest views. Warning – there was an unexpected script error. Application may not work as expected. Warning – assets failed to load. Application may not work as expected. Please enable JavaScript in your…
If youre in a deep financial hole, is it worth considering bankruptcy and what happens if you do? We get some expert insight. By Mark van Dijk It can happen to anyone even famous folks like Mike Tyson, 50 Cent and Donald Trump (six times!) but what exactly does it mean? And what happens when…