To stamp out illegal phoenix activity, directors should be required to have identification numbers. And, if theyve had many corporate failures, they should be classed in a new probationary category, our research shows. These are a few of several measures we have designed to detect and pre-emptively disrupt those bent on using company liquidation or…
DetailsLONDON (AP) Barclays Group says it will complete its restructuring six months earlier than planned as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. Barclays now plans to close its non-core unit at the end of June after reducing its stake in Barclays Africa to 12.2…
DetailsSoaring household debt and housing prices could make it “dangerous” to cut interest rates, the head of the Reserve Bank of Australia says. Dr Philip Lowe has told a federal parliamentary economics committee that while a deeper cut to the official cash rate could deliver a short-term boost to jobs and inflation but also push…
DetailsPhoenixing companies, which costs the Australian economy billions of dollars a year, is too easy, cheap, lucrative and is largely invisible, according to a new report into the practice. What is phoenixing? When a director strips cash and assets before hiding them and liquidating the company, then restarting Usually restarted under a different…
DetailsSoaring household debt and housing prices could make it “dangerous” to cut interest rates, the head of the Reserve Bank of Australia says. Dr Philip Lowe has told a federal parliamentary economics committee that while a deeper cut to the official cash rate could deliver a short-term boost to jobs and inflation but also push…
Details12:00 PM PST 2/23/2017 by Natalie Jarvey Maker Studios’ talent network, which at one time grew to 55,000 creators, also is being slimmed down. Disney is laying off 80 employees across its digital media unit, including Maker Studios, as it takes steps to further integrate the YouTube network into its consumer products and interactive media…
DetailsWhether it’s planning for retirement, investing or simply putting together a family budget, a financial planner may be the answer to getting your finances in order. ABC3340 spoke with Greg Powell, President & CEO at Fi Plan Partners, to get advice on debt issues. Five steps to get you started: Figure out your goals and…
DetailsThe Act specifically excludes this requirement for residential apartment buildings over three levels in height. The Home Building Compensation Fund (HBCF), like other mandatory home building warranty schemes that operate in other states, is meant to act as a last resort for homeowners if their builder fails to complete the works described under their contract…
DetailsThe High Court has adjourned a bid by BHS administrators to take control of the company Dominic Chappell used to extract millions of pounds from the dying store chain. Duff & Phelps is calling for Retail Acquisitions to be wound up. Mr Chappell used the company to buy BHS for £1 from Topshop billionaire Sir…
DetailsFormer NFL running back Clinton Portis is slated for a one-day trial on Sept. 6 over a $170,000 debt owed to Atlantic Citys Borgata casino, Card Player has learned. The case is before the United States Bankruptcy Court for the Northern District of Florida in Gainesville. Portis filed for bankruptcy in 2015 with total debts…
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