Two dioceses in the state of California have declared bankruptcy following an influx of claims filed against the Catholic church for alleged childhood sexual abuse. Over 3,000 cases have been filed after a state law allowed alleged victims to take legal action up to the age of 40. The 2019 legislation temporarily lifts the statute…
DetailsWilliam Brandt Jr., a pioneer in the corporate restructuring business, a Democratic activist and fundraiser close to Bill Clinton and a former chair of the Illinois Finance Authority, developed a passion for politics and public policy while a student at Fenwick High School. When future Illinois governor Pat Quinn was a freshman at the Oak…
DetailsABU DHABI – The Ministry of Finance (MoF) has issued three new Ministerial Decisions for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. These include Ministerial Decision No. 132 of 2023 on Transfers within a Qualifying Group, Ministerial Decision No. 133 of 2023 on Business Restructuring Relief,…
DetailsChris Ferguson Businesses from across the region could still be impacted by a number of recent economic headwinds, including rising interest rates, according to the North East chair of insolvency and restructuring trade body R3, despite a drop in the number of insolvency related activities. The latest Insolvency Service statistics unveiled a month-on-month drop of…
DetailsVIC Premier The Victorian Government has appointed Judge Ted Woodward to the Supreme Court of Victoria, commencing 5 June 2023. Judge Woodward will also serve as President of the Victorian Civil and Administrative Tribunal (VCAT), with his five year term to start from 1 July 2023. He was appointed as a Judge of the County…
DetailsClarifying conditions for carrying out business restructuring without causing corporate tax liabilities. Streamlining the process of calculating taxable income for UAE businesses. Abu Dhabi, UAE: The UAE Ministry of Finance has issued three new Ministerial Decisions for the purposes of Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses. These include…
DetailsBy Elinor Kasapidis The ATO is maintaining its focus on workrelated expenses and rental property deductions this year. Cryptocurrency and private use of business assets are also mentioned regularly. With a revised fixed rate of 67 cents per hour for working from home (WFH) expenses from 2022-2023, the ATO is expected to check that taxpayers are…
DetailsMay 31, 2023 Full house: Kyabram Plaza Theatre was full when Banksia Securities investors turned out in force a decade ago to be updated on the failed financial group. Photo by Neil Saunders Eleven years after the collapse of the Banksia Financial Group receivers acting on behalf of investors in the failed Kyabram company are…
DetailsKlaus Vedfelt Thesis As I mentioned previously, the odds between the Bull and Bear case for Newell Brands (NASDAQ:NWL) is 50/50, and the share price action since February seems to indicate that the bear case is right (catching a falling knife). From a purely objective standpoint, I believe 1Q23 results vindicated the bear case. The…
DetailsAnadolu Agency | Anadolu Agency | Getty Images Federal student loan borrowers hoping for another extension of the pandemic-era payment pause received bad news in the tentative deal between Republican lawmakers and President Joe Biden to suspend the debt ceiling and avoid default. According to the legislative text of the agreement, the pause on federal…
Details