Chancellor Angela Merkel has spent much of her time in office rejecting proposals to pool euro-area debt. Now it might just help her bid for re-election. Merkels main challenger, Social Democrat Martin Schulz, has backed the idea in the past as a way to help struggling euro nations — and his electoral opponents wont let him…
DetailsJOHN KIRK-ANDERSON/FAIRFAX NZ Outstanding bills of $45,000 and $33,000 have landed two Taranaki businesses in trouble with the tax department. New Zealand’s tax department has applied to put two Taranaki companies into liquidation. The Inland Revenue Department (IRD) have filed proceedings in the High Court at New Plymouth against Little Crate Limited and Salvus Systems Limited…
DetailsVeronica Macpherson. Picture: Steve Ferrier/The West Australian. Aggrieved investors claiming to be owed tens of millions of dollars by alleged Ponzi scheme operator Veronica Macpherson have begun the process of trying to reclaim their investments, putting one of her companies into liquidation yesterday. The company, Edkinway Pty Ltd, is one of hundreds of companies set…
DetailsRelated Story: Fisherman for top restaurants calls for public to pay more for sustainably farmed fish Related Story: Cyclone Debbie forces coastal evacuations An aquaculture hatchery in far north Queensland has sent 2,500 of free fish to farms affected by the outbreak of white spot disease, in what has…
DetailsA global firm has voiced its support for the federal governments proposed changes to Australias insolvency laws, which will have a significant impact on businesses and their legal advisers if passed. Two insolvency experts from King & Wood Mallesons told Lawyers Weekly that they welcomed the reforms proposed…
DetailsA.M. Castle & Co. CEO Steve Scheinkman By CRAIN’S CHICAGO BUSINESS For A.M. Castle & Co., the only real question at this point is whether the struggling metals distributor will restructure its $299 million in debt in bankruptcy court, or out of it. Oak Brook, Ill.-based Castle, which has a 155-employee operation in Bedford Heights, …
DetailsThe Bank of Canada (BoC) will tell us tomorrow whether it will raise or lower interest rates or leave them untouched. And while the overwhelming expectation among economists is that things will stay as they are, a growing number think that BoC governor Stephen Poloz may signal that the bank is contemplating a future rate hike. Many…
DetailsLONDON A Financial Times investigation has found that several UK companies have used a controversial insolvency procedure to offload up to £3.8 billion of pension liabilities. The investigation found that 17% of the 868 schemes managed by the Pension Protection Fund (PPF) a fund which picks up pension liabilities from failing companies had entered the…
DetailsBosses have come up with a new scam to avoid paying pensions. Pre-pack administrations are a way of selling off company assets before going bankrupt. Companies have used the schemes controversial insolvency procedure to offload £3.8 billion of pension liabilities. The Pension Protection Fund (PPF) is a lifeboat of last resort for the pension plans…
DetailsLooking ahead to BOC interest rate announcement: – Thirty-one per cent say they will be comfortable taking on more debt if rates decrease – Half say they will be more concerned about their ability to pay their debts if rates increase CALGARY, ALBERTA–(Marketwired – April 11, 2017) – As the nation awaits the Bank of…
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