Borrowers who took out loans from payday lender Cash Genie have been urged to come forward to claim compensation after the firm went into liquidation. The company, which offered short-term loans at an annual interest rate of 2,986%, was hit with a £20m compensation bill in July 2015 after it admitted to the financial regulator…
Video will begin in 5 seconds. More video Recommended Replay video Dick Smith can survive, says founder Entrepreneur Dick Smith explains why he doesn’t own shares in the company that bears his name. PT1M11S 620 349 Australia’s oldest electronics retailer Dick Smith has conceded its desperate pre-Christmas sale has failed to save it from the clutches of nervous…
06 January 2016 Lara Bullock View Comments Adelaide-based commercial law firm Cowell Clarke has announced internal promotions of three lawyers, effective 1 January 2016. Jonathon McRostie (pictured) has been promoted to senior associate. Mr McRostie has been with Cowell Clarke for almost seven years and has practised across a range of areas including commercial…
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Related Story: Reports production has stopped at manganese mine, workers laid off Related Story: Bootu Creek manganese mine in Northern Territory suspends operations A falling commodity price has pushed Northern Territory miner OM Manganese into voluntary administration. As reported by ABC Rural last month, the company had already laid…
by Jim Brunsden and Patrick Jenkins In the late afternoon of November 28, Luigino D’Angelo typed a suicide note on his computer. Twenty minutes later he hanged himself from the banister of his home in the Italian city of Civitavecchia. The 68-year-old pensioner, a former employee of energy group Enel, had lost his life savings…
OM Holdings Limited (ASX:OMH) wholly owned subsidiary OM (Manganese) Limited has entered voluntary administration as trading conditions damage the companys financial position. The manganese miner cited the significant global decline in the demand of manganese and market outlook as adversely affecting the companys financial position, despite efforts to reduce operating costs at its Bootu Creek…
The breadth of Dick Smith’s woes became public when it abandoned its profit guidance. Photo: Glenn Hunt Dick Smith has gone into voluntary administration, with receivers appointed to try to claw back debt owed to the company’s creditors. The electronics goods chain entered a trading halt on Monday, pending an announcement about its “funding position…
Bailouts in Europe should be a thing of the past but will the EU follow its own new rules? In the late afternoon of November 28, Luigino DAngelo typed a suicide note on his computer. Twenty minutes later he hanged himself from the banister of his home in the Italian city of Civitavecchia. The 68-year-old…
James R. Barth Auburn University; Milken Institute Clas Wihlborg Chapman University; University West December 17, 2015 Abstract: Too big to fail traditionally refers to a bank that is perceived to generate unacceptable risk to the banking system and indirectly to the economy as a whole if it were to default and unable to fulfill…