PRESS RELEASE: This digital transformation grant is helping small businesses to survive the pandemic – Media Database – Get the Word Out

Bankruptcy

Australia 1 September 2020 Most businesses are struggling to engage customers during the global health pandemic. The SMEA Digital Transformation Grant helps Australian small businesses to improve their online presence and attract loyal consumers. Not-for-profit association SMEA created this grant for businesses to extend their digital reach and boost revenue in 2020 and beyond. Successful…

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Covid-19: 1,700 mid-size companies need debt restructuring, says CRISIL – Business Standard

Restructuring

Over 1,700 sub-investment grade mid-size companies (those with turnover of Rs 300-1,500 crore) will need debt restructuring to withstand the Covid-19 onslaught, said CRISIL Ratings on Monday. A total of 1,754 sub-investment grade firms (BB+ or lower) and 589 investment grade entities (BBB- and above) had opted for moratorium on repayment of dues during March-August…

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Financial wizards help small business lenders tap government fund – The Australian Financial Review

Debt Help

“We have publicly supported the idea of a multi-seller warehouse,” Mr Nicholl told The Australian Financial Review. He said it would benefit small lenders that lacked the scale to get their costs down. “This should help them and is a good development for the market.” The aim is for such structures to eventually stand on…

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Disgraced NBCUniversal vice chair Ron Meyer has blown over $100million gambling – Daily Mail

Gambling

EXCLUSIVE: ‘He’s the biggest craps player ever!’ How NBCUniversal exec Ron Meyer, who stepped down after affair with actress was exposed, blew $100M of his fortune gambling, lost up to $7M in one night and chartered helicopters to go casino-hopping Ron Meyer was forced to step down earlier this month after blackmailers sent a draft…

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New report shows COVID-19 relief measures could be doing more harm than good – NEWS.com.au

Restructuring

A report issued by one of Australias leading credit agencies is warning COVID-19 insolvency relief measures will cause a domino effect of business shutdowns. CreditorWatch says the safe harbour moratorium that is relaxing insolvency rules will dent business confidence and plunge the country into a deeper recession, as government assistance mechanisms are propping up businesses…

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SDRL – Cleansing announcement – restructuring process – PRNewswire

Restructuring

HAMILTON, Bermuda, Aug. 31, 2020 /PRNewswire/ — Certain of the new secured noteholders (the “NSNs”) approached Seadrill Limited (the “Company”) to discuss the possibility of extinguishing the outstanding NSNs in exchange for certain secured collateral. The attached slide details the Company’s response to the proposal from the NSNs. FORWARD LOOKING STATEMENTS This release includes forward…

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