A creditors meeting for Guvera’s subsidiaries has been set for Thursday July 7. Wayne Taylor Up to 150 angry creditors, who are owed about $15 million, will descend on Deloitte’s Parramatta office next Thursday for the first creditors meeting of Guvera’s subsidiaries that have been placed in administration. The July 7 rendezvous will be the first of two meetings…
DetailsWhile the seismic changes caused by the EU Referendum vote are quite rightly uppermost in retailers minds, the UK Insolvency Service has issued a consultation document reviewing the UK corporate insolvency framework. It is a response to consistent messages from the World Bank which recently put the UK at number 13 in a league table…
DetailsThe coal-industry woes that have hit miners in Appalachian Ohio and some of the states power-generation industry struck Barberton this week, as Babcock & Wilcox Enterprises announced major layoffs. The company abruptly let go 113 workers, along with 13 more from Copley, who had been working in the companys business segment serving the coal-fired power…
DetailsMichael Epstein, a Deloitte Advisory principal with Deloitte Transactions and Business Analytics LLP, has been named Deloitte’s global managing director for restructuring services. He succeeds Andrew Grimstone, Deloitte UK partner, who will remain as head of Deloitte’s special situations advisory teams globally. Mike Rohrig, Deloitte Advisory partner and financial transactions practice leader with Deloitte &…
DetailsGuvera co-founders Claes Loberg (left) and Darren Herft (right); the company has placed some of its subsidiaries into voluntary administration. Wayne Taylor When beleaguered streaming music provider Guvera placed two of its subsidiaries into administration and wielded the axe to staff numbers this week, few observers were surprised. After all, the Gold Coast-based company, which…
DetailsHow much is too much when it comes to college debt? Obviously — or maybe not so obvious to some — you don’t want to borrow the entire cost. Gifts to grads might help but many college students still juggle student loans.(Photo: Susan Tompor) Story Highlights Some select a less expensive college — or one…
DetailsCash-strapped schools are using needs-based Gonski funding money to pay off outstanding debts. The revelations, contained in documents obtained by The Age, followed reports that one-in-four Victorian schools were in deficit and principals were struggling to balance their books. Victorian Principals Association (VPA) president, Gabrielle Leigh, told The Educator that it was a tragic…
DetailsUpdated June 30, 2016 5:45 p.m. ET WASHINGTONPresident Barack Obama signed bipartisan debt-relief legislation for Puerto Rico on Thursday, one day before the islands government said it would default on major debt payments. The legislation wont avoid Fridays imminent default. Instead, it will give the territory a stay from litigation that could have led a judge to order…
DetailsIn 2015, the Senate committee that oversees education held a hearing on ways colleges could help students amass less debt. With postsecondary debt hovering at around $1.3 trillion, any little bit can help. One of the suggestions from Senator Lamar Alexander, the chair of the committee, appeared counterintuitive: have students take on more coursework earlier…
DetailsJohanna Johnson dresses are being sold at reduced prices after the designer’s company was made insolvent earlier this year. Photo: Getty Celebrity bridal designer Johanna Johnson has some good news for her many creditors and the tax office thanks to a secret off-market sale of her Vaucluse home. But news of the high-end sale came as a…
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