The cumulative recovery rate under the insolvency resolution processes of debt-ridden companies declined to 30.18 per cent at the end of the September quarter, indicating that lenders took more haircut on their exposure, shows a study. The recovery rate has fallen steeply from a peak of 43 per cent in Q1 FY20. Of the Rs…
DetailsOnce upon a time, most Louisianans insured their homes with a traditional behemoth, a giant of the industry, like State Farm, Allstate, Farmers or USAA. No more. Today, a sizable share of Louisiana homeowners now buy their insurance from small, undercapitalized and often unproven companies that lack the huge reserves to protect them when catastrophe…
Details07 November 2022 Consultancy.com.au 2 min. read The Australian Financial Security Authority (AFSA) has registered Kristen Triglone a restructuring consultant at PKF as a trustee in bankruptcy. Based in PKFs Sydney office, Triglone becomes the countrys 209th advisor to join so-called Registered Trustee National Panel. Notably, only 10% of trustees are female. Obtaining this registration…
DetailsGAMBLING is a significant public health issue globally and particularly in Australia, which has the highest rates of gambling expenditure per capita in the world. Analyses of official statistics were produced most recently for the 201718 financial year, when Australians lost $25 billion (summary table D) across products including electronic gaming machines ($12.7 billion), casinos…
DetailsAN astounding 10,378 people thats the number of young Malaysians who were declared bankrupt between 2018 and September this year. Over 20% of the 47,929 persons declared bankrupt during the period were under the age of 34; 10,138 were aged between 25 and 34; while those under 25 make up 240 bankruptcy cases, according to…
DetailsA Personal insolvency Arrangement (PIA) has been approved by the High Court that will allow a man who had run his own retail business for many years write off approximately 900,000 in debt owed to a financial fund. The PIA, which is 15 months in duration, will allow 41-year-old Gerard Conlon of Farndreg, Coxes Demense,…
DetailsAndrii Yalanskyi Published on the Value Lab 11/24/22 We have very robust capital markets coverage on SA, where we cover almost every advisory house on US markets. For those that have restructuring franchises, the issue of low converting into actual deals from dialogue about strategy and macro has been an issue in bringing out the…
Details123RF Several liquidators approached by Stuff say the use dummy directors is sometimes reported to the Companies Office as conduct not consistent with being a good director. Patsy directors are being appointed to companies just before they go into liquidation owing large amounts of money. Why? Martin van Beynen reports. Stephen Bruce Murdoch, 36, is…
DetailsNews Update ByStartupStory |November 26, 2022 A UK court ruled steel mogul Pramod Mittal, who is also the brother of one of the richest people in the world, Lakshmi Mittal, would go bankrupt in June 2020. Since then, he has been battling to extricate himself from the legal quagmire, but on Friday (November 25, 2022),…
DetailsThe younger brother of steel magnate Lakshmi Mittal had his deal with creditors – under which he agreed to pay 0.2% of his total debts of more than $2 billion – overturned in a London court on Friday. Pramod Mittal was declared bankrupt in June 2020 over an approximately $170 million debt owed to Moorgate…
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