The Covid-19 pandemic is putting government finances of many developing countries under severe strain (Djankov and Panizza 2020). In response, a range of proposals and calls for action have been floated by experts and policy makers (Bolton et al. 2020a, 2020b, Bulow et al. 2020; Horn et al. 2020; Landers et al. 2020). In a…
DetailsTrade credit debt is almost as high as bank debt among people entering business related personal insolvency, the Australian Financial Security Authority reports. AFSA found that in September, people in business who entered into a personal insolvency owed 35 per cent of their debts to banks and 32 per cent to businesses, sole traders or…
DetailsDebt consolidation could make your outstanding obligations more manageable. Here’s what you need to know. A lot of people had debt before the coronavirus pandemic began. But at this stage of the game, it’s fair to assume there are many folks who’ve had no choice but to add to their debt due to the ongoing…
DetailsMCAT Box Office Sdn Bhd, or commonly known as MBO Cinemas, is said to be facing liquidation due to cash flow problems since the implementation of the Movement Control Order (MCO). According to a report by The Edge, a notice of the liquidation was sent out to creditors by company backer Ekuiti Nasional Bhd (Ekuinas).…
Detailsimage copyrightGetty Images Virgin Australia chief executive Paul Scurrah will step down once the airline is transferred to new owner Bain Capital. The decision follows reports that he disagreed with Bain over the future direction of the airline. Virgin Australia went into voluntary administration in April before the US private equity group bought it. The…
DetailsThroughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 43 bankruptcies in week 41, 6 more than in week 40. In addition, 6 sole proprietorships were declared bankrupt, 4…
DetailsAppointments A mid-tier has bolstered its business restructuring team with the hire of a former big four director as it braces for a wave of insolvencies in the coming months. Appointments Jotham Lian 15 October 2020 1 minute read object(stdClass)#15698 (8) { [“image_intro”]=> string(0) “” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(0) “” [“image_intro_caption”]=> string(0) “” [“image_fulltext”]=>…
DetailsKUALA LUMPUR (Oct 15): Ekuiti Nasional Bhd (Ekuinas)-backed MCAT Box Office Sdn Bhd, more commonly known as MBO Cinemas, is facing liquidation following cash flow problems since the implementation of the government-imposed movement control order (MCO) to curb the spread of the Covid-19 pandemic. “We would like to inform you that on Oct 14, 2020,…
DetailsFormer Jetstar boss Jayne Hrdlicka will take over as chief executive of Virgin Australia from Paul Scurrah by November. Key points: The change at the top of Virgin Australia comes after the airline was sold to US private equity firm Bain Capital The sale process is almost finalised, and incoming CEO Jayne Hrdlicka will take…
Details2020s been a tough time for airlines, as international tourism has ground to a halt thanks to COVID-19. Australian airlines have suffered even more than others, thanks to both domestic border closures and strict restrictions on overseas travel. Virgin Australia notably went into voluntary administration earlier this year, but Qantas the national carrier and one…
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