This weeks TGIF summarises the Federal Court of Australias recent decision granting leave to proceed against a company despite the appointment of a small business restructuring (SBR) practitioner under Pt 5.3B of the Corporations Act 2001 (Cth) (Corporations Act). Key takeaways The statutory stay available under the SBR regime, introduced in 2021, has been approached…
DetailsExplore the comprehensive guide on credit counseling services offered by debt relief companies. Delve into the process, benefits, and considerations to ensure effective debt management and long-term financial literacy, aiding in your journey towards financial stability. LAS VEGAS, Oct. 26, 2023 /PRNewswire/ — In financial management, knowledge is paramount, and a commendable credit score is…
DetailsASIC has prosecuted 100 individuals from 1 January 2023 to 30 June 2023 for failing to assist registered liquidators. These prosecutions follow the failure of company officers and other individuals to comply with key governance obligations to provide registered liquidators with access to company books and submit a report on company activities and property (ROCAP)…
DetailsNEW YORK, Oct 26 (Reuters) – Corporate bankruptcies in the U.S. rose by 30% over the past 12 months, according to statistics published Thursday by the U.S. court system. Business bankruptcies saw a relatively sharp increase for the past year, rising to 17,051 new cases for the year that ended Sept. 30, 2023, but the…
DetailsTORONTO, Oct. 26, 2023 /CNW/ – November marks Financial Literacy Month (FLM). This year’s concept is “Check up on your financial health,” with a focus on helping Canadians manage their debt. [embedded content] Financial Literacy Month aims to equip Canadians with the knowledge, skills and confidence needed to make informed decisions about managing debt in these challenging…
DetailsReuters. Bajaj Hindusthan Sugars, an integrated sugar and ethanol manufacturer, has successfully reduced its debt from Rs 4,500 crore to Rs 500 crore, leading to the dismissal of an insolvency petition against the company. The National Company Law Tribunal (NCLT) approved the withdrawal of the petition by the State Bank of India (SBI), following a…
DetailsNEW YORK, Oct 26 (Reuters) – Shares of FTI Consulting (FCN.N) rose by more than 16% to an all-time-high on Thursday after the business and communications consultancy reported third-quarter results that beat analyst estimates amid increased demand for its services. FTI Consulting’s revenue jumped 15.1% to $893.26 million while earnings per share rose 9% to…
DetailsPhoto by Cade Fisher Blugold Central office to help students with financial aid questions. On Oct. 4, 2023, the Biden-Harris Administration announced the approval of an additional $9 billion in student debt relief, according to a press release by the United States Department of Education. The release stated that the $9 billion would allow for…
DetailsCompanies Champion Trust Llc Follow NEW YORK, Oct 26 (Reuters) – Lawyers for FTX founder Sam Bankman-Fried kicked off their case at his fraud trial on Thursday following 12 days of prosecution testimony in which former colleagues at the now-bankrupt cryptocurrency exchange said he directed them to divert customer funds to his hedge fund and…
DetailsAdvanced Micro Devices (AMD), one of the worlds top maker of graphics processing units (GPUs), said it has been optimising and restructuring its China business recently but refuted online speculation that it is cutting hundreds of jobs in Shanghai, according to a statement on Thursday. Based on a corporate strategy adjustment, the company has recently…
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