One of Australia’s big banks has cracked down on “debt vultures” – businesses or individuals that claim to assist those struggling with debt but actually rake in big fees. National Australia Bank said it will no longer deal with unlicensed, fee-charging debt management provides. “Debt vultures exploit loopholes in the law to prey on the…
Members of the OECD Development Assistance Committee (DAC), comprised of 29 donor countries and the EU, have agreed on a method for reporting debt relief as official development assistance (ODA). The agreement follows calls by developing countries and civil society for expanded international debt relief efforts. Creditors within the Paris Club, a forum of official…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 35 bankruptcies in week 30. This is 11 down on the previous week. In addition, 2 sole proprietorships were declared…
BULLZYE lovers will soon see a return of the country clothing and accessories brand as Thomas Cook Boot and Clothing Co. has come in to save the day. Bullzye went into liquidation in March with more than $1.5 million owing to unsecured creditors. The liquidation saw the closure of the five physical Queensland stores, Rockhampton,…
As part of the general business cycle, there are always a certain number of companies that get wound up, every week, and looking at the statistics at the moment, there have only been a handful of external administrations. Many are suggesting that there are upwards of 2000 businesses that would have ordinarily failed since March…