Now that its administrators have recommended liquidation, what happens next for Queensland Nickel, its workers and other creditors? ABC News Online answers the basic questions about what happens as a firm moves from administration into liquidation. What is the difference between administration, receivership and liquidation? If you imagine a troubled business being like…
DetailsPersonal insolvencies rose 2% in the March quarter, the fourth increase in a row, mainly due to bad debts in the mining states of Western Australia and Queensland. This is the first time there have been four consecutive quarterly rises since 2009, according to the Australian Financial Security Authority. Queensland and Western Australia, where debt…
DetailsTaxpayers may have to fund more than $70 million in payouts for Queensland Nickel (QNI) workers if the company goes into liquidation. Key points: Taxpayer-funded scheme would be a last resort Outstanding entitlements are about $73 million Clive Palmer “morally obliged” to pay workers’ entitlements, Michaelia Cash says Administrators FTI Consulting recommended winding up…
DetailsAUGUSTA The Maine Senate has signed off on bills that seek to ease student debt load and help schools retain students until graduation. One of the bills would allow students to claim the Educational Opportunity Tax Credit. Supporters say the move will help students stay in Maine and pay off student debt. The bill also…
DetailsArrium’s lenders have been accused of looking after their own interests by forcing out the company’s chosen administrators, which could delay the troubled steelworks’ restructure. The steelmaker has debts of up to $4 billion and went into voluntary administration last week. Original administrator Grant Thornton was forced out after a Federal Court ruling yesterday…
DetailsA general view shows the Tata Steel works in Scunthorpe, northern England. File Photo | Reuters India Ratings and Research has placed Tata Steel on rating watch following its announcement of restructuring European operations. While cutting down losses by curtailing overseas operations would be a credit positive for TSL, the uncertain timelines associated with this…
DetailsYahoo7 and Agencies on April 12, 2016, 8:20 am Video Clive Palmer goes head-to-head with Kochie Clive Palmer’s company Queensland Nickel has been recommended to go into liquidation after creditors reported debts in excess of $100 million. FTI Consulting says it has advised creditors to vote to wind it up at a meeting later this…
DetailsVictoria’s Secret is laying off workers and restructuring its business to streamline its focus on its famous lingerie, with an eye towards Millennials. × Victorias Secret laying off workers, restructuring to focus on lingerie and millennials Victoria’s Secret is laying off workers and restructuring its business to streamline its focus on its famous lingerie, with an…
DetailsMADISON, Wis. – Wisconsin Gov. Scott Walker says he’s “thrifty” and is offering T-shirts for craft projects while asking donors to help pay off the $1.2 million debt from his short-lived presidential campaign. The Republican sent an email to donors Sunday saying, “if there is one thing the American people learned about me during our…
DetailsNew Delhi: India Ratings and Research has placed Tata Steel on ‘rating watch’ following its announcement of restructuring European operations. “While cutting down losses by curtailing overseas operations would be a credit positive for TSL, the uncertain timelines associated with this goal could delay the expected recovery in its credit profile,” Ind-Ra said in a…
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