Where housing debt moves, home prices tend to follow. The chart below from the Commonwealth Bank demonstrates the relationship between the two. The percentage change in housing finance is presented as a three-month moving average to help smooth out volatility in seasonally-adjusted data, providing a better indication of the broader trend. With the value of…
DetailsOverloaded with outstanding loans for education, car and credit cards? You might have received several calls from agencies that have talked about overcoming these debts after payment of monthly instalments failed over a period of time. So debt consolidation is the next obvious move that you want to make. But before that, you should be…
DetailsThe Company hereby informs that the Resolution Professional with the approval of Committee of Creditors of the Company had filed an application before the Honble NCLT, Mumbai seeking an extension of the period of Corporate Insolvency Resolution Process (CIRP) of the Company by Ninety (90) days in terms of Section 12(2) of the Insolvency and…
DetailsSimply put these terms amount to the same thing the inability of a business to pay their debts but its important to understand the differences between liquidation and insolvency. Insolvency can be considered a financial state of being, when a company is unable to pay its debts or when it has more liabilities than assets…
DetailsEmpee Distilleries, one of the popular Indian made foreign spirits manufacturers in Tamil Nadu, was dragged to NCLT by Union Bank of India claiming dues of Rs 10.18 crore. The Chennai bench of National Company Law Tribunal (NCLT) has ordered commencement of the corporate insolvency resolution process against Empee Distilleries and appointed V Venkata Siva…
DetailsA Division Bench of the National Company Law Tribunal (NCLT), Chennai, has ordered starting of Corporate Insolvency Resolution Process against liquor manufacturing company Empee Distilleries. The Bench has also appointed V Venkata Siva Kumar as the Interim Resolution Professional to take charge of the companys affairs immediately. The Bench passed the order based on a…
DetailsDebt is always the hardest to manage, and you can easily find that there are so many companies which are trying hard to get rid of it. Maintaining debt is always the biggest issue; even most of the large companies also stay strategic and do not mess with it. But, if you have debt…
DetailsCanadian plane and train makerBombardier, announced today that it will slash 5,000 jobs in a sweeping corporate restructuring plan over the next 12 to 18 months. The Montreal-based company also announced the sale of what it called a number of non-core assets. The company will sell itsQ Series aircraft program andde Havillandaerospace trademark to a…
DetailsThird man admits guilt in gambling, kidnapping plot; victim worked with officialsA Dorchester man who was indicted for his role in the kidnapping and beating of another man over a gambling debt in 2016 pled guilty last week in federal court. Kim Nguyen is one of four Dorchester men who allegedly participated in the plot.…
Detailsby James Fernyhough Optus has reporteda 20 per cent fall in net profit for the first half of the financial year, blaming lower NBN migration charges and workforce restructuring costs. In the six months endedSeptember, Optus reported a net profit of $259 million, down from $325 million in the previous corresponding period. The fall for…
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