Britains household debt mountain has reached a new peak, with UK homes now owing an average of 15,385 to credit card firms, banks and other lenders, according to the TUC. The trade union body said household debt rose sharply in 2018 as years of austerity and wage stagnation forced households to increase their borrowing. The…
For the first time in our history, Australians have tallied up a staggering collective credit card debt of almost $30billion. The terrifying statistic was the result of frenzied Christmas shopping meaning many Aussie households are heading into 2019 with a financial hangover. According to a new forecast of Reserve Bank of Australia (RBA) data analysed…
THE boss of a castle where Peter Andre tied the knot has been disqualified from running a business for nine years after leaving customers 90,000 in the lurch. Richard Fuller, 56, was slapped with the ban after continuing to accept payments for the Exeter wedding venue Mamhead House despite knowing the company was insolvent. Twitter…
By Eliza Ronalds-Hannon and Lauren Coleman-Lochner Bloomberg News January 06, 2019 NEW YORK Sears Holdings Corp. is preparing a wind down after chairman Eddie Lamperts bid to buy several hundred stores out of bankruptcy fell short of bankers qualifications, people with knowledge of the matter said. Sears representatives summoned liquidation firms and other advisers to…
A FORMER All Blacks rugby star has been accused of tricking women out of thousands of pounds to fund a gambling addiction. Regan King, 38, is said to have pleaded with the two women for help with cash flow problems but failed to pay them back. Getty Images – Getty Regan King has been accused…
ABOUT400 employees, including those in Dubbo, are facing an uncertain Christmas after the national freight company Redstar Transport Pty Ltdwas placed in liquidation. Redstar Transport has offices in Dubbo, Melbourne, Sydney, Brisbane, Adelaide and Perth. A callto the Redstar office in Dubbo for a comment wasntanswered, but it is believed that the Dubbo office employs…
Currently, only financial creditors are part of the CoC that decides on a resolution plan and selects the winning bidder. Operational creditors (OCs), mostly MSMEs, may soon cease to get short shrift by the financial creditors, their mightier counterparts. The government is set to equip the OCs with more power under the Insolvency and Bankruptcy…
Sears Holdings Corp. is preparing to potentially wind down the iconic retailer after Chairman Eddie Lamperts bid to buy several hundred stores out of bankruptcy fell short of bankers qualifications, people with knowledge of the matter said. The retailer started laying the groundwork for a liquidation after meetings Friday in which its advisers weighed the…
A critic of Royal Bank of Scotlands disgraced restructuring unit has spent 20,000 on a billboard berating the high street bank as part of efforts to reinstate an investigation into wrongdoing at the lender. Neil Mitchell, a Scottish businessman, has paid four months up front on a 5,000 a month billboard on the A23 in…
Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid payment of taxes only to re-establish themselves under different trading names. This was revealed by Finance minister Mthuli Ncube in the National Assembly last month during the debate on the Finance Bill. Ncube is proposing…