The ban should save consumers struggling with debt thousands of pounds in unnecessary fees and ensure they receive better quality advice. It will put a stop to the business model which incentivises debt packagers to recommend certain options that make them more money rather than what is in the customers best interest. The debt packager…
DetailsFederal Education Minister Jason Clare has left the door open for changes to how HECS-HELP debts are paid back, including how indexation is applied to the original debt. Key points: The education minister says he is open to changing how HECS debts are indexed Indexation of 7.1 per cent has added $1,775 to the average $25,000 HECS-HELP debt Under the…
DetailsFuture Lifestyle Insolvency: RP receives claims of Rs 2,155.53 crore from financial creditors Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of…
DetailsJun 1, 2023 4.27pm Troubled Australian integrated cancer care provider GenesisCare will file for bankruptcy in the United States, but has secured another $US200 million ($307 million) in new financing to help keep its operations afloat globally. The company owned by PE giant KKR, China Resources and doctors and management will seek to corral and…
DetailsThe JCT is due to release a new suite of contracts within the year ahead. Aside from the homeowners building contracts released in 2021, this will be the first new suite since 2016. The new contract suite is expected to address several issues that have arisen over the last seven years, including insolvency a particular…
DetailsDebt Justice welcomes the decision by the financial regulator to ban debt packager fees. Debt packagers receive commission for referring people in debt to fee-charging solution providers. Referral fees therefore incentivise debt packagers to promote Individual Voluntary Agreements (IVAs) as a solution to people in debt, over other, often cheaper and more appropriate, solutions, such…
DetailsEXCLUSIVE: High-profile construction company suddenly collapses – as Melissa Caddick link to the firm is revealed Midson Construction (Qld) goes into voluntary administration Jones Partners principal appointed voluntary liquidator Bruce Gleeson also liquidated Caddick’s companies By Kylie Stevens and Eliza Mcphee For Daily Mail Australia Published: 16:12 AEST, 2 June 2023 | Updated: 16:45 AEST,…
DetailsEnters Chapter 11 with more than $300 million in DIP financing to fund operations throughout the process Continues to deliver for customers across all global locations and maintain normal operations FORT WORTH, Texas, June 01, 2023 (GLOBE NEWSWIRE) — Incora and certain affiliates (collectively, Incora or the Company), a leading global provider of innovative supply…
DetailsSponsoredAlternative LendingDigital BankingSavings and InvestmentCrypto Managing an invocation is high-pressure work that requires expertise, speed, and clarity. Having successfully managed two complex invocations in recent months, we explain the key steps to making the process as streamlined and effective as possible. Owain Chambers, Account Director for Capital Markets at fintech leader Lenvi, reports. Image source:…
DetailsAn artist driven by reckless desires, so famous he went by one name only. He lived large, went bankrupt and was buried in an unmarked grave. That’s not a description of some contemporary painter – it’s Rembrandt, living in 17th century Amsterdam. The most comprehensive exhibition of the Dutch master’s work held in Australia in…
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