Business failures are on the rise in Britain, with several high-profile names lost already this year. But since the 1980s, the UK has made it a priority to throw a lifeline to struggling companies. It appears, however, that these efforts to enhance the law are being hampered by sloppy language in the media, increasing the…
DetailsRetireAustralia says it is committed to completing the 42 independent living apartments at Tarragal Glen Retirement Village at Erina despite the building company entering into voluntary administration. Stevens Construction (NSW) Pty Ltd, a major Central Coast company, announced on May 27 it had entered voluntary administration after almost two decades in the construction industry. Described…
DetailsA recent court case has demonstrated to trustees the withdrawal and transfer of superannuation benefits prior to declaring bankruptcy will not protect those assets from creditors claims even if they remain within the retirement savings system, according to an SMSF technical specialist. Heffron head of education and content Lyn Formica noted this outcome had occurred…
DetailsA growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one. A council cannot, technically, go…
DetailsSir Bradley Wiggins, the first Briton to win the Tour de France, has been declared bankrupt amid financial difficulties with his businesses. The cyclist, who also won eight Olympic medals, including five golds, has had a troubled relationship with his business ventures since retiring in 2016. Wiggins Rights Limited, which owns the trademarks to Bradley…
DetailsKey Points Bankruptcy lasts for three years but the consequences can last much longer. Bankruptcy wont release you from all your debts. Always seek the advice of a financial counsellor. Bankruptcy is a legal process that helps you regain financial control by releasing you from most of your debts. It allows you to start fresh.…
DetailsBy David Jones Published: 02:28 AEST, 15 June 2024 | Updated: 17:45 AEST, 15 June 2024 Dismayed by the news that one of Britains greatest ever Olympians had been declared bankrupt, I had been trying all week to contact Sir Bradley Wiggins and hear his side… Read the full article at: https://www.dailymail.co.uk/news/article-13530791/Bradley-Wiggins-homeless-cycling-gold-medals-Olympian.html
DetailsThe family has raised questions after a father of three went overboard from a cruise ship after losing $9,000 over two nights on the P&O Pacific Adventure. Shane Dixon, 50, first lost $5,000, then borrowed money off his mother and lost another $4,000. Dixons family maintained he was lured by high-roller incentives into losing the…
DetailsA Las Vegas casino has denied Bruno Mars racked up a $50 million (39 million) gambling debt. A representative for MGM Resorts International issued a formal statement on Monday to describe a supportive relationship with the Uptown Funk singer, and refute reports Bruno, 38, had incurred multimillion dollar debts at the company’s casinos. “We’re proud…
DetailsLast week I scored a trifecta, managing to upset people in three ways. First, for my supposed anti-immigration stance, second, for hating on Elon Musk (the bromance is still strong with some readers, even though his car company is as bad as the rest in terms of spying on drivers) and, finally, from animal lovers…
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