“It shows that people are doing so using a financial mechanism that will hopefully help them gain control of their finances once and for all.” Our Hodge inhouse data found that the number of people using funds from their 50+ mortgage for debt consolidation has doubled. Between January and July in 2023, 14% of customers…
DetailsMaybank Manager Takes Banks Money For Gambling & Repayment Of Debts The court recently sentenced a former manager from a Maybank branch in Singapore to jail after he had taken roughly S$1.4 million from the bank. He suffered heavy losses from trading and was borrowing money from various sources to pay off his debts. The…
DetailsCustomers of a Victorian builder will pay more to have their home builds completed, as part of efforts to help the financially pressured company avoid liquidation. Key points: Victorian home builder Harmac Homes was placed in voluntary administration in late August A majority of creditors and customers have voted to have the directors take back control of…
DetailsA default happens when you have skipped one or several payments in a row on a loan or credit card. Since defaulting can cause your credit (and overall financial health) to quickly plummet, you want to do your best to avoid it. CNBC Select breaks down what happens when you default on various types of…
DetailsThe attention of tax authorities on supply chain reorganisations, which impact the operations of multinational enterprises (MNEs), has noticeably increased following the issuance of the OECDs transfer pricing aspects of business restructurings (the OECD published guidance on business restructurings in draft form in 2009 and subsequently included it as final in the latest edition of…
DetailsA recent string of financial troubles in residential construction companies has shown that the building industry is anything but bulletproof. So, for anyone about to sign on the dotted line or currently in the building process, it can pay to know what to do in these tough situations and what your rights are depending where…
DetailsThe Star Entertainment Group saw its shares drop heavily today after it completed a $565 million capital raise with institutional investors as the casino operator attempts to shed debt. Embattles casino operator Star Entertainment Group [ASX:SGR] has seen its share price collapse today, falling 15% after a capital raise, where it offered heavily discounted shares…
DetailsYoung adults are struggling to keep up their credit scores and paying an increasing amount of disposable income servicing their debts. Jade Canney didnt expect to move back into her parents home after renting her own apartment for about a year, but the 22-year-old felt that she had no choice after drowning in debt that…
DetailsRecently, Inno-grow B.V. was declared bankrupt. The company produced growing systems for, among others, the cultivation of pot plants. cannabis, and for multilayer cultivation. The company from Koudekerke filed for bankruptcy itself. A restart does not seem to be on the cards, as the company’s activities have been at a standstill for some time, the…
DetailsPolice in Tokyo and Aichi and Fukuoka prefectures have arrested two corporate executives for allegedly aiding habitual gambling by helping domestic customers of overseas online casinos make payments, it was learned on Wednesday. Yoshiaki Maeda, 42, and Shinya Tokita, 42, became the first Japanese online casino settlement agents to be arrested on such charges. The…
Details