April 4, 2016

Tourism body Inland NSW collapses into voluntary administration, leaving local small businesses gobsmacked – SmartCompany.com.au

LiquidationBy Insolvency Advisory Accountants April 4, 2016

A New South Wales tourism body has collapsed into voluntary administration, leaving many small businesses questioning whether they will continue to receive valuable marketing help and, in turn, money from visitors. Inland NSW Regional Tourism Organisation Incorporated appointed external managers on March 31. Bradd Morelli and Andrew Spring from Jirsch Sutherland have been appointed joint voluntary…

Puerto Rico opens accounts at commercial bank to sustain services – Financial Times

BankruptcyBy Insolvency Advisory Accountants April 4, 2016

©Bloomberg The Puerto Rican government has opened 600 accounts at a commercial bank in a desperate attempt to maintain essential services as the islands de facto finance authority teeters on the brink of default. The move was seen as a quick fix for the Commonwealths Treasury and public agencies to protect themselves from the Government…

Debt buyers get a break under new state law – Appleton Post Crescent

Debt HelpBy Insolvency Advisory Accountants April 4, 2016

Backers say it creates uniformity in suits; critics say it benefits unscrupulous companies Sandra Goodwin, 56, is photographed at her home in Stoughton on March 25. In the summer of 2015, Goodwin was sued by a debt buyer she had never heard of, Jefferson Capital Systems. The company had purchased her debt, which originated from…

Calgary: Resilience of oil town lawyers put to test – Canadian Lawyer Magazine

BankruptcyBy Insolvency Advisory Accountants April 4, 2016

The Lougheed family knows only too well Albertas glorious booms as well as its painful, discouraging, and devastating busts. There has been a member of the family in the law in Calgary in every generation since 1882. Lougheed knows this city and the province like few others. He says law firms are not immune to…

How to get out of debt now — before Canada’s spending bender comes home to roost – Financial Post

BankruptcyBy Insolvency Advisory Accountants April 4, 2016

This article appears in the April edition of the Financial Post Magazine. Visit the iTunes store to download the iPad edition of this months issue. One loonie at a time: Learn how to trick yourself into saving for retirement Changing how people think about the money they save is one of the central tenets of…

Puerto Rico Bondholders Sue Island’s Government Development Bank – Morning Consult

BankruptcyBy Insolvency Advisory Accountants April 4, 2016

Nine of Puerto Ricos creditors today joined forces to sue the islands Government Development Bank to prevent it from making payments to creditors before agreeing on a debt restructuring mechanism for the banks bonds. Catastrophic losses to GDB creditors and the potential for serious harm to Puerto Rico as a whole can only be averted…

Begbies Traynor forms pact with CICM – Accountancy Age

BankruptcyBy Insolvency Advisory Accountants April 4, 2016

INSOLVENCY outfit Begbies Traynor has signed an agreement with the Chartered Institute of Credit Management (CICM) to become one of its new corporate partners. Mathew Headland, CICM national relationship manager at Begbies Traynor says as a business it already has a close relationship with CICM members: We understand the key role credit managers play in the…

Struggling generation rent is being driven into debt – The Guardian

Debt HelpBy Insolvency Advisory Accountants April 4, 2016

With a soaring number of tenants falling into financial difficulties as they battle increasing rental costs, charities have identified a worrying trend of escalating debt for those who are frozen out of home ownership. Debt charity StepChange says the number of renters contacting it with difficulty paying off debt in the four years to 2015…

Next in line: bankruptcy laws for individuals – Livemint

BankruptcyBy Insolvency Advisory Accountants April 4, 2016

Last Modified: Mon, Apr 04 2016. 06 48 PM IST In about 80% cases, the business fails due to cash flow problems, which can be overcome by talking to bankers to extend the loan, or with the help of short-term loans Bankruptcy is a legally declared inability or impairment of ability of an individual…

Cliq Energy appoints Crowe Horwarth for pre-liquidation services – The Star Online

LiquidationBy Insolvency Advisory Accountants April 4, 2016

KUALA LUMPUR: Cliq Energy Bhd, which is undergoing a liquidation process after failing to acquire its qualifying asset within the stipulated timeframe, has appointed Crowe Horwarth Advisory Sdn Bhd to provide pre-liquidation services. The special purpose acquisition company told Bursa Malaysia that the services included review of the latest financial statements prepared by the company…

Daily Archives: April 4, 2016