Employees face uncertain Christmas after security firm Kudos Australasia collapses into voluntary administration – SmartCompany.com.au

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Administrators have recommended a security firm that owes creditors more than $1 million be wound up, as workers at the company face an uncertain Christmas. Voluntary administrators from Mackay Goodwin were appointed to Kudos Australasia Pty Ltd, trading as Kudos Audio Visual and Kudos Security Solutions, on November 9, however, SmartCompany understands employees of the…

Supreme Court of Justice rules on employee dismissal following employer insolvency – International Law Office (registration)

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Facts Decision The Supreme Court of Justice’s July 5 2016 decision in Case 6034/13.8TBBRG-N1.S1 examined whether the payment due for the termination of an employment contract as a result of a collective dismissal following an employer’s declaration of insolvency was a debt of the insolvent estate or the insolvent company. Facts An employee brought an…

Government ignored tax loophole that helped shonky colleges rip off students – The Australian Financial Review

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Education Minister Simon Birmingham has again blamed Labor for the VET FEE-HELP fiasco, even though the Coalition was slow to shut down the rorts. Louise Kennerley For three years the federal Coalition government ignored a major loophole in the VET FEE-HELP student loan scheme that allowed dodgy private colleges to scam the program and fraudulently…

The U.S. Government Is Collecting Student Loans It Promised to Forgive – Bloomberg

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The U.S. Department of Education has two quite different roles in the lives of indebted former students. The same bureaucracy that must safeguard taxpayer dollars by collecting $1.1 trillion in loans also oversees the nation’s largest-ever effort to forgive student debt. These dual roles have culminated in a strange situation. The Obama administration has repeatedly…

Government criticises ‘inefficient’ debt and pensions advice bodies – The Guardian

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The current inefficient and confusing system of government-backed financial help for consumers is to be replaced with a new one-stop-shop organisation that will advise consumers about debt, pensions and scams. This new body will replace three existing publicly-funded organisations, one of which came under fire for spending more than £100m on marketing and advertising in…

National Debt Relief Talks About Debt Consolidation For Credit Card Debt – Benzinga

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National Debt Relief recently shared in an article published December 1, 2016 some helpful information about credit card debt consolidation which can help consumers know more about the program. The article titled “About Credit Card Debt Consolidation: How Does It Work” imparts debt consolidation tips for people to understand if it can be used for…

Denis O’Brien’s Digicel turns to consultants to help slash costs, debt – Irish Times

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Denis OBriens Digicel Group has started an unprecedented cost-cutting plan and hired financial consultants McKinsey and Goetzpartners to help cut its massive debt burden as the mobile phone group grapples with declining earnings. Digicels 6.2 billion debt is at unsustainably high levels at 6.2 times earnings at the group, Michael Chakardjian, an analyst with US…