SUBCONTRACTORS will likely be the big losers from the collapse of council-favoured Ri-Con Contractors with the latest report revealing they are unlikely to see a cent of the almost $5 million owed. The report lodged with ASIC by liquidator Worrells revealed the company, which won multimillion-dollar contracts with the Gympie, Sunshine Coast and Noosa councils,…
DetailsIn the past few years, the firm has structured and invested over $4bn of debt deals Zainab Mansoor Thursday 04 June 2020 Asset management and investment banking platform Shuaa Capital is strengthening its corporate restructuring service to re-energise the business sector, it announced on June 4. Shuaas corporate restructuring solutions facilitate businesses to secure new…
DetailsOn Wednesday 20 May, the Department for Business, Energy and Industrial Strategy (BEIS) introduced the new Corporate Insolvency and Governance Bill. The measures in this Bill will relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate. What this means for businesses The…
DetailsThe retail apocalypse claims yet ANOTHER victim, as beloved Australian designer brand Tuchuzy shuts its doors after 25 years Tuchuzy will go into voluntary administration, it was announced on Wednesday The Bondi store operated for 25 years and sold top brands like Ksubi and Bassike It comes after Australia’s retail sector suffered its worst slump…
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 66 bankruptcies in week 22. This is 3 down on the previous week. In addition, 9 sole proprietorships were declared…
DetailsJakarta (ANTARA) – Heru Hidayat, PT Trada Alam Minera Tbk (TRAM) president commissioner, laundered money by gambling at overseas casinos, using money allegedly derived from corruption in state-owned PT Jiwasraya’s investment fund management, Indonesian Attorney General’s prosecutor stated. The money obtained from corruption in the Indonesian state health insurance was laundered at casinos located in…
DetailsAston Martin is to cut 500 jobs as the carmaker overhauls its business in response to falling sales of its signature sports cars. The pandemic has deepened the crisis at the luxury carmaker which was already trying to reduce a backlog of cars before the UK government lockdown closed its dealerships and showrooms. Aston Martin…
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DetailsShuaa Capital, the asset management and investment banking group, is strengthening its corporate restructuring arm to help firms struggling to access finance. The company said its corporate restructuring business would address “liquidity issues and potential insolvency concerns faced by many businesses that have been impacted by the Covid-19 crisis” by providing access to new credit…
DetailsThe CARES Act provided important temporary relief for student loan borrowers, permitting many with federally held debt to skip payments for 6 months, with borrowers generally given credit towards forgiveness for those payments. The legislation halted collections, though a significant number of borrowers were excluded.[1] However, given the severity of the COVID-19 economic impacts, and…
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