Normal text sizeLarger text sizeVery large text size A hotshot millennial investment adviser who made a name for himself setting up a fund to invest in one of the best cars in the world has been hit with a temporary travel ban amid an investigation by the corporate watchdog. Magnolia Capital boss and real estate…
DetailsInsolvency reforms commence on 1 January 2021 Reforms to corporate insolvency laws commence on 1 January 2021 for companies with liabilities less than $1 million. These reforms include: -a new debt restructuring process for incorporated businesses -a new, simplified liquidation pathway for small businesses, and -a new class of registered liquidator who can only undertake…
DetailsMUNICH, June 21 (Reuters) – German automotive supplier Allgaier, whose customers include Porsche (P911_p.DE), has filed for insolvency, a court said on Wednesday, a year after being sold to a Chinese investor. The Goeppingen district court said it had appointed Pluta law firm’s Fritz Zanker as provisional insolvency administrator. Allgaier, which has about 1,700 employees,…
DetailsSandalwood scheme promoter Frank Wilson is bankrupt after failing to douse a $15.2 million debt owed to the finance arm of his former flagship Quintis. Federal Court judge Katrina Banks-Smith declared him bankrupt after rejecting Mr Wilsons conspiracy claims over alleged actions after he left Quintis in March, 2017, to pursue a failed takeover bid.…
DetailsThere will be no operational changes to Rockport Australia, as the parent company undergoes voluntary restructuring under Chapter 11 bankruptcy. US-based Rockport Group has also entered into negotiations with a potential purchaser which has significant experience in the industry. Australian and New Zealand distributor True Alliance confirmed the footwear brand is continuing to operate as normal…
DetailsChristopher Kane was once one of the buzziest labels on Londons fashion week schedule. Now, the company is on the brink of bankruptcy. On Wednesday, the company said its board will file an intention to appoint insolvency firm FTS Recovery as administrators, with a goal to either refinance the companys existing debt or find a…
DetailsPublished 21 June 2023 A new debt management policy to support the recovery of money owed to West Dunbartonshire schools is being introduced. The policy will ensure the 1,219 pupils and families with debt of 47,905 will receive additional support, including signposting to the Councils Working4U service. A report to the Educational Services committee this…
DetailsContents1 Citizens Advice2 Stepchange3 National Debtline4 Debt Advice Foundation5 Debt advice for Carers Citizens Advice The Citizen’s Advice offer advice and guidance on debt problems, how to avoid losing your home and how to get your finances back into shape. Find out more at Citizens Advice Stepchange A national charity that provides free debt advice…
DetailsBy Marc Jones LONDON (Reuters) – Ukraine is likely to decide early next year whether to try and extend the current freeze on its international bond repayments or begin looking at potentially more complex alternatives, its top debt management chief said. Kyiv’s bondholders agreed last August to suspend Ukraine’s repayments for two years, but attention…
DetailsSource: Facebook One of Australias oldest chocolate brands has entered voluntary administration for a second time, with the rising cost of raw materials and shipping squeezing its margins. Ernest Hillier Chocolates was founded by English migrant Ernest Hillier in Sydney in 1914 and is thought to be Australias first chocolate manufacturer. Its Hilliers and Newmans…
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