A man who was declared bankrupt in 1995 after a four-year tax investigation is angry at the loss of an old personal pension that he paid into for seven years. Edmund Watters, 61, took out the policy with Confederation Life (now Sun Life Financial of Canada) in January 1991 when he earned 25,000 a year…
Are you looking for company liquidation support in Noosa? At Company Liquidation Noosa we understand that insolvency hurts. It is a stressful time that only feels worse knowing that there is no time to rest and reflect, because company directors must act as soon as possible when faced with insolvency or risk a range of…
NEW YORK–(BUSINESS WIRE)–G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced the restructuring of its retail operations segment. The restructuring of the retail operations segment includes the closing of 110 Wilsons Leather and 89 G.H. Bass stores. The Company has hired Hilco Global to assist in the liquidation of these stores, which will begin immediately or…
Tabcorp Holdings has reached an agreement with its US debt holders that will enable the ASX gambling group to postpone payments on their debt agreements. Last month, Tabcorp announced it had entered into negotiations with US debt holders to get new covenant terms on its AUS $2.1 billion corporate debt tranche, maximising financial flexibility as…
Low-cost carrier AirAsia will lay off 111 flight attendants, 172 pilots, and 50 engineers as part of its restructuring plans, CEO Riad Asmat announced yesterday. Affected employees will be notified within 24 hours via email, Riad reportedly said. He did not elaborate on the details of the compensation the airline would provide to retrenched staff.…
Thailand’s cabinet has approved a plan to restructure troubled Thai Airways’ finances through a bankruptcy court. The plan for a court-led restructuring of the national carrier replaces a previous proposal of a government-funded rescue package that was heavily criticised in the country. The state-controlled airline’s troubles are the latest example of how the coronavirus pandemic…
Image copyright Getty Images “It’s like a last-ditch attempt to get the last bit of money out of a gambler. I was just disgusted.” Dave, not his real name, has fought gambling addiction nearly his entire life and now has 50,000 of gambling debt spread over up to six credit cards. He’s talking about when…
SUBCONTRACTORS will likely be the big losers from the collapse of council-favoured Ri-Con Contractors with the latest report revealing they are unlikely to see a cent of the almost $5 million owed. The report lodged with ASIC by liquidator Worrells revealed the company, which won multimillion-dollar contracts with the Gympie, Sunshine Coast and Noosa councils,…