Nene gave go-ahead to restructuring plan, SARS says by Natasha Marrian and Linda Ensor, 2016-01-29 15:27:35.0 FORMER finance minister Nhlanhla Nene had approved restructuring plans at the South African Revenue Service, the tax agency said on Friday. In a statement, SARS said there was “nothing illegal” about the review, and the process had been approved…
Minister for Justice and Equality, Frances Fitzgerald, has signed into law new bankruptcy legislation which will reduce the bankruptcy term from three years to one year. The new legislation will reduce reduce the income payment period from five years to three years, providing for the bankrupt persons ownership in their home to re-vest in them…
The number of people going bust fell to a 10 year low in 2015. Just under 80,000 people in England and Wales were declared insolvent last year. The 19% drop from 2014 was driven by fewer individual voluntary arrangements, down 23% to just under 40,000, according to the Insolvency Service. Meanwhile bankruptcies tumbled to 15,797…
Personal insolvencies fell to their lowest levels in a decade in 2015 across England and Wales, official figures show. A total of 79,965 personal insolvencies were recorded last year, marking the lowest annual total since 2005, when 67,584 cases were recorded, according to Insolvency Service data. Personal insolvencies in 2015 were also down by nearly…
As KVV Liepajas Metalurgs metallurgical company had missed a payment of EUR 2.7 million that was due to the Latvian state in late 2015, the Treasury has started drawing on the collateral, LNT commercial television reported on Thursday (January 28th) evening, informs LETA. The steel plant tried to negotiate an extension of the payment deadline…
Debt problems: Personal insolvencies at 10-year low 29 January 2016 From the section Business Image copyright Getty Images The number of people being declared insolvent was at is lowest level for a decade in 2015, but debt problems started to pick-up late in the year. A total of 79,965 people were left with unmanageable debts…
Gambian workers are worried! Their salary for the month of January, has been cut to half by the repressive regime of dictator Yahya Jammeh. The recent pay cut affects the entire government workforce. The government says there is no adequate funds to cater for workers salaries. It has resorted to making piecemeal salary payments. Many…
Queensland Nickel creditors and observers signing on at the meeting in Townsville on Friday. The company sacked 237 workers at its Yabulu refinery near Townsville earlier in January and is now in administration. Photo: ANDREW RANKIN Clive Palmer’s Queensland Nickel will require a capital injection of “tens of millions of dollars” to avoid liquidation unless there…
RACHAEL KELLY/FAIRFAX NZ Gore building firm Price Bros Builders Ltd has gone into liquidation. A Gore building firm has gone into liquidation, owing more than $300,000 to secured and unsecured creditors. Price Bros Builders Ltd ceased trading several days before it was placed into liquidation by shareholder resolution on November 17, 2015. A liquidation report…
It is almost 10 years since the onset of the global financial crisis, and yet the world is more polarised between rich and poor and politically more unstable, writes Tom Bramble. ———- When the US property market began to sink in 2007, few people foresaw what was about to transpire. The US financial system, which…