The founder of office provider IWG, Mark Dixon, faces a legal challenge as landlords battle his decision to put the Jersey-based subsidiary which guaranteed their rents into bankruptcy. IWG angered landlords with the move in October, which came after it drew a 644m dividend from the Regus plc subsidiary last year. The decision effectively left…
DetailsUK-based firms are facing losses of around 1.86 billion (appr. $2.46 billion) which could result from unpaid invoices, even though the nations businesses have received financial support from the governments COVID-19 relief packages. Red Flag Alert, an insolvency company that assists businesses with safeguarding their operations from financial risks, has revealed that UK firms may…
DetailsNew data from Coresight Research reveals American retailers have announced 8,400 closures this year. Ascena Retail closed the most locations, at nearly 1,200. Coresight anticipates closures will snowball and set a new record this year, breaking the 2019 record of 9,302 closures tracked by the firm. Business is equally bleak for the US restaurant industry.…
DetailsIn the past week, suicides of a bank employee, a small business owner and a lathe operator in Tamil Nadu had one thing in common mounting debt caused by an addiction to online gambling. In July, it was a 20-year-old part-time tattoo parlour staffer who hanged himself after losing 20,000 on a gaming app.Although exact…
DetailsDeficit hawks have been attacking the idea of student debt relief using straw men and deceptive data. The offenders include the Brookings Institution, Goldman Sachs, and the Pete Petersonspawned Committee for a Responsible Federal Budget. Here are their key arguments: First, a lot of student debt is held by relatively well-off people and those with…
DetailsNancy Pelosi and Chuck Schumer discuss the Heroes Act in the Capitol Visitor Center on November 12 CQ-Roll Call, Inc via Getty Images In November, President-elect Joe Biden endorsed legislation that would make monthly payments to distressed borrowers with private student loan debt, and he previously expressed support for up to $10,000 in forgiveness for…
DetailsDownload CSVShow datatableNumber of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days Number of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days December 332 2017 January 336 2017 February 292 2017 March 304 2017 April 263 2017 May 281 2017 June 300 2017 July 266…
DetailsASIC has commenced civil penalty proceedings in the Federal Court against Union Standard International Group Pty Ltd (Union Standard) (in liquidation) (trading as usgfx) and its former corporate authorised representatives, Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as TradeFred) (in liquidation). ASIC alleges Union Standard provided financial…
DetailsVoluntary liquidation by members Voluntary liquidation by creditors When is voluntary liquidation triggered? Comment Chapter 113(III) of the Companies Law is the main legal framework which regulates the voluntary liquidation procedure in Cyprus. There are two ways in which voluntary liquidation can be triggered: by members or creditors. Voluntary liquidation by members Voluntary liquidation by…
DetailsHrdlicka moved to Australia in 1994 following stints at other US corporates and rejoined Bain’s local consulting arm in 1997. Her first client? A young Ansett executive named Alan Joyce. The pair’s professional relationship continued when Joyce moved to Qantas, and Joyce eventually hired Hrdlicka in 2010 as the Flying Kangaroo’s Group Executive of Strategy…
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