Australian businesses are going to keep falling into dire financial trouble at a record rate, in large part due to overdue tax debts. So far this year, more than 10,000 businesses have appointed external administrators already higher than the total of about 9500 for the 2022-23 financial year, and far higher than the roughly 6100…
Tax debt has emerged as one of the biggest drivers of corporate insolvencies over the past year, with the latest data from Alares Insights showing April tracked at 50 per cent higher than pre-COVID levels. According to Patrick Schweizer, author of Alares Monthly Credit Risk Insights, there has been a sharp increase in the number of companies seeking…
777 Partners has called in Los Angeles-headquartered restructuring advisors B Riley Advisory Services (a division of B Riley Financial) to assist with various operational challenges. The outcome follows the collapse of Australian low-cost carrier Bonza (AB, Sunshine Coast) in which 777 held a majority stake. We have retained a team of professionals from B Riley…
News ByStartupStory | May 14, 2024 In a strategic move amid restructuring at Ola Cabs, Ankush Aggarwal, the brother of founder Bhavish Aggarwal, has returned to the ride-hailing business after his stint with Ola Electric. Aggarwal, previously the Chief Business Officer at Ola Electric, will now assume a key role within Ola Cabs senior leadership team,…
Financial Services Commission Secretary General Kwon Dae-young announces the policy direction for the orderly soft landing of real estate private funds at the Government Complex Seoul in the Jongno district of Seoul on May 13. To facilitate the orderly soft landing of the 230 trillion won real estate project financing (PF) market, financial authorities are…
With businesses collapsing at levels not seen since 2012, Grant Thornton Australias John McInerney suggested that the small business restructuring scheme could be a more favourable option than a payment plan. He made the comments ahead of his session at the ACE24 Accounting Conference and Expo 2024, where he will unpack how accountants can help…
Kwon Dae-young, secretary-general of the Financial Services Commission (FSC), speaks during a press conference at the government complex in Seoul, May 13. Yonhap Korea’s financial authorities announced plans to minimize risks stemming from short-term real estate project financing (PF) loans Monday that include additional funds for strong, survivable projects but a speedy way out for…
Financial Services Commission Secretary-General Kwon Dae-young speaks during a press briefing on the government’s latest plan to induce a soft landing for project financing loans in the real estate sector at the government complex in central Seoul on Monday. [NEWS1] Koreas financial authorities will facilitate a restructuring of the cash-strapped real estate sector with a…
Vancouver, British Columbia–(Newsfile Corp. – May 11, 2024) – RED METAL RESOURCES LTD. (CSE: RMES) (OTC Pink: RMESF) (“Red Metal” or the “Company“) is pleased to announce that Gregg Jensen and Marian Myers, P.Geo., have been appointed to the board of directors of the Company, effective May 10, 2024, to fill vacancies created by the resignations…
Wheels Up Records Q1 Decline In Revenue, Losses Amid Restructuring | Aviation Week Network https://aviationweek.com/themes/custom/particle/dist/app-drupal/assets/awn-logo.svg Skip to main content May 09, 2024 Credit: Nigel Prevett / Aviation Week Wheels Up, a provider of on-demand private aviation, posted first quarter (Q1) 2024 revenue of $197 million, down 44% from a year ago primarily from its decision…