ALMOST a quarter (24 per cent) of companies in the South East have suffered a hit to their finances following the insolvency of a customer, supplier or other debtor during the past six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of such exposures…
DetailsMichael O’Leary in 60 seconds Ryanair has a labor problem, and it’s about to get worse. The low-cost carrier said Monday that higher fuel costs, rising wages and strikes by pilots and regional air traffic controllers had caused its first quarter profit to drop 20% over the previous year. Ryanair (RYAAY) has been giving pilots…
Details85 SumoSalad stores have been placed into administration, but administrators say its business as usual for the healthy eating food chain. Last week the stores were placed into administration, with the group appointing Peter Gothard and Morgan Kelly from financial advisory and restructuring firm Ferrier Hodgson as administrators. Last year, Founder Luke Baylis placed some stores…
DetailsAustralias most populous state has seen a hefty 7 per cent increase in the rate of personal insolvencies, as household debt levels continue to balloon – having implications on spending for the broader business community. Personal insolvencies in Australia rose by 5.6 per cent in the 201718 financial year, with statistics released by the Australian…
DetailsDeputy Education Minister Teo Nie Ching said that the previous administration had been inconsistent in implementing policies with regards to borrowers who defaulted on their loan repayment in the past. Picture by Yusof Mat Isa KUALA LUMPUR, July 23 In future, the government will first declare Malaysians who default on their loans from the National…
DetailsMon, Jul 23, 2018 – 5:50 AM Frankfurt CHRISTIAN Sewing was barely two weeks into his role as chief executive officer of Deutsche Bank AG when he unveiled the outlines of a yet another turnaround plan for the German lender in April. Now shareholders say it’s time to flesh out the details. Four of the…
DetailsNewsWritten by Tom Williams on July 23, 2018 Australian Music Group the parent company of musical instrument retailers Allans Billy Hyde and Gallins Musicians Pro Shop has been declared insolvent during a court case involving the Australian Taxation Office (ATO), and will be liquidated. The company was placed into voluntary administration last month, with a…
DetailsTHE rate of personal insolvencies in Cheshire East has significantly increased over the last two years, official data has revealed. In 2015, 14.1 adults per 10,000 were declared insolvent in Cheshire East, according to Insolvency Service figures. However by 2017 that figure had risen to 17.6, an increase of 24.6%. Insolvency is when someone cannot…
DetailsStatistics released by the Australian Financial Security Authority (AFSA) shows that the rate of personal insolvencies has increased steadily for three consecutive years, growing by 4.4 per cent in 2015-16, 2.1 per cent in 2016-17, and 5.6 per cent in 2017-18. There were 31,859 new personal insolvencies in Australia in the last financial year, which…
DetailsIthmaar Holding, Emirates NBD Bank, First Abu Dhabi Bank, United Arab Bank, Waha Capital and Al Qudra Holding among those with a degree of exposure to private equity group Read below: updates through the week as companies declare if they have limited exposure to Abraaj UAE stock markets closed higher after the first disclosures on…
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