A subsidiary of an Australian tech and media start-up that had $12 million worth of investment poured into it has collapsed. Last month, E-Mersion Media (Aust) Pty Ltd went into administration, with all its operations ceasing and staff stood down immediately. E-Mersion Media, based in Melbourne and with offices also in the UK, captured investors…
DetailsAMSTERDAM Trade Bank, a subsidiary of Russias Alfa Bank focused on commodity finance and shipping, has been declared bankrupt following difficulties stemming from international sanctions targeting Russia. While ATB itself had not been sanctioned, the bank said that US and British sanctions had caused operational difficulties, as the majority of ATBs counterparties, including corresponding banks… find…
DetailsAmid its all-out war with Russia, Ukraine’s government is facing another, unexpected foe problem gambling in the military. The issue was thrust into the spotlight when a Ukrainian soldier put forward a petition calling on Kyiv to address concerns about gambling among its battle-worn soldiers. Pavlo Petrychenko said veteran soldiers have turned to online gambling to cope with their stress. He warned of soldiers who had fallen into…
DetailsIndian Institute of Insolvency Professionals of ICAI (IIIPI) has decided that the peer review of Insolvency Professional Entities (IPEs) would henceforth be undertaken using a two-fold approach. While the first one would be on the work done by IPE as an IP (conducting assignments under the IBC), the additional one, decided now, would be on…
DetailsMore than three million Australians will have their student debt wiped in a bid to win over younger voters crushed by the cost of living crisis. Education Minister Jason Clare on Sunday announced the government would cap the Higher Education Loan Program (HELP) indexation rate, eliminating about $3 billion of student debt. The capped rate…
DetailsKatie Price is said to be at ‘real risk’ of losing her 2million Mucky Mansion and could be left “homeless” amid her growing money woes. The model hit headlines last week after she swerved her second bankruptcy hearing and opted to jet off to Cyprus with her new boyfriend JJ Slater instead. Katie was declared…
DetailsThe federal government has announced it will wipe $3 billion from Australians’ HECS-HELP debt. Aussies have complained they can’t pay off their student loan debt because annual indexation keeps increasing the amount. Lauren Eardley told Yahoo Finance her ballooning loan debt has caused her to question whether she will ever afford to have kids or…
DetailsThe federal government will cut around $3bn in student debts through a key change to the Hecs and Help programs, reversing last years horror indexation hike and delivering a $1,200 saving for the average person. The measure, to be outlined in this months federal budget, will ensure student debts cant outpace wage growth in the…
DetailsIn short: Student debts will be lowered for more than three million Australians under reforms designed to stop HECS loans growing faster than wages. Loan indexation will now match whichever is lower out of the Consumer Price Index or the Wage Price Index which the government says will prevent another shock increase like last year’s 7.1 per cent…
DetailsChanges in the May 14 budget will cut the student debt of more than three million people, wiping more than $3 billion from what people owe. The government will cap the HELP indexation rate to be the lower of either the Consumer Price Index (CPI) or the Wages Price Index (WPI), backdated from June 1…
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