CBA said it accepted the penalty as appropriate. We did not do the right thing by our customer and we again apologise to him for the personal impact this has caused,” a CBA spokesperson said. It said enhanced support services and customer-initiated transaction blocking provides its customers “with greater control over their access to credit…
Deputy Finance Minister Zou Jiayi. (Photo/bundsummit.org) Measures to ease burden of poor nations and boost sustainable development China is implementing the debt relief plans promoted by the Group of 20 to help ease the debt burden of poor countries and achieve sustainable development during the novel coronavirus epidemic, a senior government official said. As many…
Link copied toclipboard *The story has been updated with corrected details about the Gascoyne Resources recapitalisation process This week, debt-laden lithium producer Altura Mining (ASX:AJM) went into voluntary administration. When it comes to recovering any money, Alturas shareholders are at the bottom of the heap. Secured creditors, like banks, are at the top. The key…
The Federal Court has ordered the Commonwealth Bank of Australia (CBA) to pay a $150,000 penalty after the Court found the bank breached the responsible lending provisions of the National Consumer Credit Protection Act 2009 (National Credit Act). The penalty is for failures to take account of a notification by a customer (Mr Harris) that…
Fewer Tasmanians have become insolvent and more have been paying down debts during the pandemic period, as government support measures temporarily put more money into the pockets of some people. Key points: New Tasmanian personal insolvencies were at a 30-year low for the last financial year A debt collection business is seeing more Tasmanians able…
Ministers have sent in a taskforce to oversee Croydon council after an audit report revealed the Labour-run authority is on the verge of bankruptcy following a string of risky property investments and a failure to keep control of social care budgets. Auditors heavily criticised the south London council for ignoring more than three years of…
A SNOOKER club has been ordered to pay 4,500 to a employee of more than ten years who was made redundant at the start of the Covid-19 lockdown without pay. Clacton Snooker Centre told Zella Davis, 60, they could not afford to pay her and reclaim furlough pay, so had to end her employment. The…
Thirty-eight months after he was arrested for scamming investors, using their money to pay off his massive gambling debts, Craig Carton the ultimate Gasbag is returning to WFAN to team with Evan Roberts in afternoon drive. They are scheduled to debut on Monday, Nov. 9 from 2 p.m. – 7 p.m. Carton is also scheduled…
With COVID-19 and the differing attempts by state and local government to contain its spread by various regulations, smaller companies in almost every industry have been negatively affected by state regulations. As a result, some companies impacted by these COVID-19 regulations may find themselves on the brink of insolvency. Until recently, there have been two…
NEW DELHI : The Supreme Court Wednesday said it would pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking transfer of all petitions pending before different high courts challenging the provisions of IBC with regard to personal insolvency. A bench of Justices L N Rao, Hemant Gupta…