ROBERT KITCHIN/FAIRFAX NZ Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale. Dick Smith’s administrators have successfully defended an attempt to replace them, after lifting the lid on the debts of the retailer’s New Zealand business. At a meeting in Auckland on Friday, creditors voted on…
DetailsThe Powerball lottery may be hard to win, but its impossible to ignore $1.5 billion will do that. Big jackpots drive ticket sales thats why last year, lottery officials made the already astronomical odds even longer, from 1 in 175 million to 1 in 292 million. Worse odds mean fewer winners, which means the jackpots…
DetailsThe ultimate fate of Dick Smith may not be known for six months. DICK Smith stores were selling customers soon-to-be worthless gift cards in the days before Christmas at the same time it was calling in the administrators. McGrathNicol was brought in to advise the ailing company on December 23. The firm was officially appointed…
DetailsJeff Parsons PHOTO BY PATRICK YEAGLE Faced with a federal criminal investigation, entrepreneur Jeffrey Parsons can keep his mouth shut in court fights pitting the trustee in his bankruptcy case against car dealer Todd Green and a Texas auction company. Trustee Jeffrey Richardson wants Green to return money he made in deals with Parsons for…
DetailsBusiness 14 January 2016by Andrew Clark 11 way to help you clear your debt this year If you feel like youre drowning in overdue bills, late fees, interest, and penalties, youre not alone. Just recently, the SNP economics spokesman Stewart Hosie warned that household debt has increased 40% since last year. The dull ache of…
DetailsMitu Gulati and Bob Rasmussen members of the law faculties of Duke University and the University of Southern California, respectively argue that Puerto Rico has another route to restructuring its debts The federal courts have declared that Puerto Rico does not have the authority to enact an insolvency regime applicable to its public sector borrowers.…
DetailsVale of Clwyd, Stoke-on-Trent North and Torbay were the parliamentary constituencies with the highest personal insolvency rates across England and Wales last year, according to official figures. Coastal areas featured strongly among the areas with the highest personal insolvency rates, while many areas of London were among the constituencies with the lowest rates, the Insolvency…
DetailsPaul O’Donoghue Published 14/01/2016 | 14:50 Junior Minister Ged Nash. Photo: Tom Burke The Government has commissioned a review of legal protection to ensure companies meet their obligations to their employees and unsecured creditors if they go into liquidation. Share Go To Labour court chair Kevin Duffy and company law specialist Nessa Cahill have been…
DetailsAfter almost five years of piecemeal efforts to fix Atlantic City, New Jerseys distressed seaside resort faces more drastic measures: the end of its casino monopoly and a state takeover or bankruptcy filing. On the line is the future of a city that Governor Chris Christie once said was crucial to New Jerseys recovery. Once…
DetailsThe centre manager of Christians against poverty (CAP)in Larne Wendy Davison says that her organisation is expecting an increase in the number of people seeking its free, confidential debt relief services. We offer people one-to-one visits in their own home so that young families or single mothers dont…
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