Labor has slammed the governments early super access scheme after new research showed a massive jump in gambling expenditure by people taking advantage of it. Shadow Assistant Treasurer Stephen Jones said: Today we learn that one in 10 dollars that has been provided through the governments early access to super scheme has been spent on…
DetailsMORE than three years since CQ Leagues Club went into receivership, the company which left a debt of more than $2.5 million, is expected to be wound up by next month. Insolvency company Worrells Rockhampton was appointed liquidator of the company of February 15, 2017. Documents submitted to the Australian Securities and Investments Commission in…
DetailsBUSBY Contracting’s liquidation is set to be wound up by the end of this year as their debts have blown out to almost $5 million. The company, which went into voluntary liquidation in February 2018, claims the liquidation was a result of underquoting liquidation of associated major debtors and flooding of their project sites. It…
DetailsThe world has been experiencing a massive downturn over the recent months because of the COVID-19 pandemi… The world has been experiencing a massive downturn over the recent months because of the COVID-19 pandemic. Locally, the Philippine government has reactively imposed community quarantine measures of varying degrees. The actions taken have resulted in disruptions in…
DetailsA gambling suicide EVERY day: Shocking report finds 2m families blighted by problem gambling and 50,000 CHILDREN are addicted The House of Lords review found betting blights the lives of two million Britons The panel behind the report urged the Government to curb giant betting firms It called for mandatory checks to ensure gamblers can…
DetailsFIVE years ago, Mackay mining services business Sharps Heavy Equipment Repairs was in dire financial strife. It was during the mining downturn, when many mining businesses either went into voluntary administration or shut their doors for good. But five years on, Sharps has emerged from voluntary administration better than ever. Customers have increased their spend…
DetailsMEXICO CITY (Reuters) – Mexican airline Aeromexico will offer fewer flights and have fewer planes in the short term as it begins a Chapter 11 restructuring process, Chief Executive Andres Conesa said on Wednesday, after shares plummeted to record lows. Passengers, wearing protective masks following an outbreak of the coronavirus disease (COVID-19), wait for flights…
DetailsIn 1978, when the United States was faced with an earlier economic crisis, the U.S. Congress enacted a bankruptcy law that aimed to encourage creditors to recapture their debts over time and avoid the significant, abrupt job losses concomitant with liquidation. Among the more unique provisions of that law were: a self-effectuating injunction during which…
DetailsWednesday, July 1, 2020 On 25 June 2020 the Corporate Insolvency and Governance Act received Royal Assent, making some of the biggest changes to UK insolvency laws in the last 30 years. We have written several blogs covering the changes and how they help support distressed businesses, impact suppliers, lenders and other third parties and…
DetailsJapan Display Inc. said Tuesday it posted a group net loss of 101.42 billion ($938 million) in fiscal 2019, a red ink figure for the sixth straight year, due to hefty restructuring costs and weak demand for products. In a delayed earnings report due to the new coronavirus outbreak, the struggling panel-maker logged a consolidated…
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