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Daily Archives: August 5, 2016

Central Bankers are Flogging a Dead Horse – Daily Reckoning – Australian Edition

LiquidationBy Insolvency GuardianAugust 5, 2016

Theres a horse named inflation. This horse is flat on its stomach, with legs spreadeagle. Every three days for the past nine years, one of the worlds central bankers dresses up as a jockey. They mount the horse and flog it with the whip marked lower interest rates. On Tuesday, our resident jockey, Glenn Stevens,…

Rugby league legend Jarrod McCracken has bankruptcy extended until 2021 – ABC Online

BankruptcyBy Insolvency GuardianAugust 5, 2016

Former rugby league star and property mogul Jarrod McCracken has been referred to authorities for allegedly failing to declare his income and travelling overseas while bankrupt. No charges have been laid against Mr McCracken, but both alleged offences would carry potential jail terms. Mr McCracken was declared bankrupt in 2013 with $20 million…

Takata profit drops 33% as airbag maker plans restructuring – Crain’s Detroit Business

RestructuringBy Insolvency GuardianAugust 5, 2016

August 05, 2016 8:45 a.m. Updated By Ma Jie and Masatsugu HorieBloomberg Takata Corp., the airbag maker behind the biggest automotive recall, said quarterly profit plunged by a third as the supplier drafted restructuring plans in the face of billions of dollars in potential costs related to its defective safety products. Net income fell to…

Goldman warns of Brexit restructuring – Financial Times

RestructuringBy Insolvency GuardianAugust 5, 2016

©Bloomberg Goldman Sachs has said the UKs vote to leave the EU could force it to restructure some of its UK operations, in one of the clearest signs from a major Wall Street institution that is preparing specific measures following the landmark vote. In a US regulatory filing on Thursday, Goldman which employs about 5,500…

Help is on the way to deal with aggressive debt collector practices – Kansas City Star (blog)

Debt HelpBy Insolvency GuardianAugust 5, 2016

When I started getting calls from debt collectors more than 10 years ago, I assured them repeatedly that they had the wrong guy. The Steve Rosen they were looking for, who had past-due student loans, credit card debts, and was behind on child support payments, had a different middle name and lived at various times…

Kleenmaid: Bradley Young found guilty | Queensland Times – The Queensland Times

LiquidationBy Insolvency GuardianAugust 5, 2016

UPDATE: A SOBBING woman collapsed to the floor outside Brisbane District Court after a jury convicted former Kleenmaid director Bradley Wendell Young of fraud and insolvent trading.  The jury returned verdicts after almost four hours, following an 18-week trial.  Young was found guilty of one offence of fraud and 17 counts of insolvent trading.  He…

Kleenmaid: Bradley Young found guilty – The Sunshine Coast Daily

LiquidationBy Insolvency GuardianAugust 5, 2016

UPDATE: A SOBBING woman collapsed to the floor outside Brisbane District Court after a jury convicted former Kleenmaid director Bradley Wendell Young of fraud and insolvent trading.  The jury returned verdicts after almost four hours, following an 18-week trial.  Young was found guilty of one offence of fraud and 17 counts of insolvent trading.  He…

India’s Suzlon to exit debt restructuring by March 2017 – chairman – Business Standard

RestructuringBy Insolvency GuardianAugust 5, 2016

By Promit Mukherjee MUMBAI (Reuters) – India’s Suzlon Energy Ltd hopes to exit a process of corporate debt restructuring by March 2017, its chairman said on Thursday, a turnaround for a company that four years ago reeled under heavy debt after an ill-advised overseas expansion. Suzlon’s purchase of German wind energy firm RePower, now…

How You End Up with a Fake Economy – Daily Reckoning – Australian Edition

GamblingBy Insolvency GuardianAugust 5, 2016

Poor Christine! The IMF director and Parasitocrate Haute Gamme Ms Lagarde recently learned that she must stand trial for corruption charges in France. It concerns a complicated deal that went down while she was finance minister of France. Not worth trying to understand in detail But poor Christine who did part of her schooling in…

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