by Madison Marriage and Barney Thompson PwC’s role in the liquidation process of the collapsed contractor Carillion has come under scrutiny after it emerged that the auditor already has two separate, and apparently conflicting roles, including one advising the defunct company’s pension trustees. Six PwC executives were appointed by the High Court on Monday as…
Bill Gates charitable foundation has agreed to pay Nigerias debt to Japan so the African nation can become polio-free. The Bill and Melinda Gates Foundation announced it will shoulder the $76m debt for Africas largest economy, which is recovering from its first recession in 20 years. Nigeria originally took the loan in 2014 and…
GAMBLERS are feeding millions of dollars into Central Queensland’s pokie machines every month, new research has revealed. According to Queensland Government Gamlbing and Liquor statistics, last month alone more than $9.19 million was put through the CQ region’s 2541 machines, with Rockhampton punters throwing in $4.1m of that price. Rockhampton currently has 1029 electronic gaming…
The Publican Group business was quietly placed into voluntary administration at the end of last year, after selling off all of its assets to Australian Venue Co. The Australian Securities and Investments Commission published that Richard Albarran, Cameron Shaw and Carl Huxtable of Chadwick Hall were appointed as administrators of the Publican Group in mid-December.…
TUC boss calls on government to establish group to share knowledge on collapsed firm Unions are worried about the impact of the firms collapse on sub-contractors and Carillion staff. Photograph: Darren Staples/Reuters Trade unions have demanded that a taskforce be set up to help deal with the fallout from the Carillion collapse and accused ministers…
Those payments as well as several others stretching back to 2005 were met with consternation by industry observers at the time Sears Canada gave up the ghost this year after more than a decade of pundits calling for its demise. Leah Hennel/Postmedia TORONTO Sears Canadas bankruptcy monitor is investigating more than a half billion dollars…
To further ease the insolvency and bankruptcy process and streamline the acquisition of stressed assets, Union Finance Minister Arun Jaitley may do away with no-objection certificates required for asset transfers. This comes under Section 281 of the Income-Tax Act, and it will be waived for transactions between companies under insolvency…
Ukraine’s central bank says an investigation into the country’s largest lender, PrivatBank, shows that it had been “subjected to a large-scale and coordinated fraud” over at least a decade. The fraud resulted in the bank, which was taken into state control in 2016, suffering a loss of at least $5.5 billion, the central bank said…
Maria* is 68-years-old. She has been living alone for many years following a divorce. Maria is unable to work due to chronic medical conditions, however, she is still paying off a home loan and is saddled with two credit card debts which her aged disability pension doesnt come close enough to helping with. Finances regularly…
Runa Alam and Ibrahim Sagna January 16, 2018 Private debt is recognised as an institutional asset class and as an alternative source of risk-adjusted returns for institutional investors globally. While some investors have specific, fixed allocations to private debt, others allocate from fixed income or private equity. In Africa, there has been a convergence of…