Jim Stafford Published 14/04/2016 | 02:30 The term “vulture fund” is a metaphor used to compare investment funds to the behaviour of vultures “preying” on debtors in financial distress by purchasing the debt at a discount to make a large gain. Share Go To The “vulture fund” industry in Ireland began in 2011, with the…
The introduction of the Insolvency and Bankruptcy Code, 2015 (the Code) in the Lok Sabha by Finance Minister Arun Jaitley on December 21, 2015 was greeted by unanimous applause and a sigh of relief from all stakeholders. The Code first surfaced over a year ago when the Finance Minister announced that the government hoped to…
An internationally-renown Australian fashion designer says she is placing her business in voluntary administration in order to move the companys operations to the United States. The appointment of external managers to the business comes a month after the Supreme Court heard an application to wind-up the business. Designer Johanna Johnson opened her first stand-alone store…
The following is the transcript of a speech delivered by treasurer Scott Morrison to the BCA on April 13th. It has been slightly edited for length and clarity. Id like to take the opportunity to share some of the big-picture principles, if you like as I prepare my first Budget as Treasurer, at this critical…
After a couple of years when Australia’s personal insolvency numbers fell sharply, a growing number of people have entered into debt agreements over the past year. According to the latest Australian Financial Security Authority figures, the number of personal insolvencies rose two per cent in the March quarter, compared with the same quarter last year.…
ST. LOUIS Weeks after signaling that a heavy debt load and weak coal demand could push it into bankruptcy, Peabody Energy surprised few when it filed for Chapter 11 protection here on Wednesday. The fall of the worlds largest coal company is the starkest example of the plunge in the coal industrys fortunes over the…
After a couple of years when Australia’s personal insolvency numbers fell sharply, a growing number of people have entered into debt agreements over the past year. According to the latest Australian Financial Security Authority figures, the number of personal insolvencies rose two per cent in the March quarter, compared with the same quarter last year.…
Related Story: Greens senator adds DJ skills to his resume Western Australian music artists and crew members from the 2015 Disconnect Festival say they have not seen a cent of money owed to them. Musicians as well as those who worked behind the scenes have spoken out for the first time,…
Clean Power Published on April 13th, 2016 | by Glenn Meyers April 13th, 2016 by Glenn Meyers Originally published on Planetsave. Almost one year ago in its annual report, troubled Chinese solar panel manufacturer Yingli Green Energy told its investors the company was facing troubled times: Facts and circumstances…
Prime Minister Malcolm Turnbull has urged Clive Palmer to “put his money up” to help workers sacked from the Queensland Nickel refinery, saying it is the least the magnate could do. Key points: Taxpayer-funded scheme would be a last resort Outstanding entitlements are about $73 million Clive Palmer “morally obliged” to pay workers’ entitlements,…