Cineworld has made a deal with its lenders to restructure its debt and emerge from bankruptcy and has also dropped plans to sell its businesses in the US, UK and Ireland. In a statement released today (April 3), Cineworld unveiled a conditional restructuring deal with lenders that would see the exhibition giant emerge from the…
DetailsInsolvency trustee Doug Hoyes encounters a lot of Canadians with money troubles, but he’s become particularly sympathetic to the plight of young people who find themselves financially underwater. For more than a decade, his Ontario-based firm Hoyes Michalos has been crunching bankruptcy and insolvency numbers for its annual “Joe Debtor” analysis, with its latest results…
DetailsSHANGHAI/HONG KONG: Alibaba Groups restructuring will allow all its business units to become more agile and enhance faster decision-making and responses to market changes, the tech conglomerates chief executive Daniel Zhang said on Thursday. Alibaba began laying the groundwork for the restructuring over the past few years, he told a conference call, adding in future…
DetailsGetty Images A Yorkshire woman has told of her fears from dealing with loan sharks, warning: “If I don’t pay I get a beating.” It comes as a report from the Centre for Social Justice (CSJ) said fear of reprisals from illegal money lenders was preventing vulnerable borrowers from seeking help. The think-tank believes 1m…
DetailsStreet Talk Apr 3, 2023 6.25pm Bombed-out beauty and skincare roll-up BWX has landed in voluntary administration, after Street Talk revealed its lender CBAs decision to stop relaxing covenants that expired on March 31. BWX shares are down 97.4 per cent since their peak in January 2018. FTI Consultings Kate Warwick, Joe Hansell and Kelly…
DetailsA parliamentary inquiry into the Australian Securities and Investments Commission (ASIC) has revealed startling evidence about some of its operations, including liquidator workforce issues and a not-so fast-track insolvency program. Worst of all, ASIC is using artificial intelligence to auto-reject reports containing evidence of serious corporate crime. See also Since 1991 ASIC has been the…
DetailsWorking with a non-profit credit counseling agency to create a debt management plan can be a worthwhile option if you’re struggling with debt. However, just because an agency is non-profit doesn’t mean its affordable or trustworthy. Choosing the right debt management plan means considering factors like cost and reputation. Here’s what you need to know…
DetailsRobert ZammitThe West Australian Camera Icon Theres one avenue that some younger people with a HECS or HELP debt should consider to potentially save thousands of their hard-earned dollars. Credit: Andy Paul/Getty Images/Image Source Share to Facebook Share to Twitter Email Us Copy the Link No-one is immune from the cost of living pressures that…
DetailsTertiary students are feeling the heat from the cost of living crisis, with the rise of inflation leading to the rise of the Higher Education Contribution Scheme (HECS) debt. HECS is a scheme where tertiary students can get a loan from the Australian government to help pay for their education, but then have to pay…
DetailsBrisbane wealth adviser Alanna Fraser has been battling to pay off a university student debt of $102,000. Key points: The National Union of Students says the federal government is profiting from student loans Annual indexation is causing loan amounts to rise sharply due to high inflation Treasurer Jim Chalmers says the system is fair She’s just…
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