The governments move to extend the suspension of fresh insolvency proceedings till the end of this fiscal might appear to be bowing to the inevitable. However, two qualifications are in order. One, giving a troubled company more time to turn around makes sense if the intervening period holds out any possibility of a turnaround, and…
White Marquee Event Hires parent company has been placed in voluntary administration, with debts estimated at $5.7 million, but there are hopes the Greek-Australian owned company can trade through. The company in question, Adelaide Event Group, also trades as Budget Party Hire and Renniks Events. Administrators SV Partners, who were appointed on December 21, said…
LAHORE – The business community Saturday applauded the government for securing debt relief of $1.7 billion for another six months from G20 and other creditors, calling for driving a campaign to write off Pakistan debt permanently, as the country has paid $10.4 billion on account of debt servicing during last fiscal year. Federation of Pakistan…
Debt can be a slippery slope. Some types (like mortgages) are healthy and improve your ability to do and buy the good things in life. Others (like, um, that sofa youre still paying off) should come with a danger warning before you sign on the dotted line. Here, four types of debt that could spell…
Temporary debt protections put in place in March will be wound back on 1 January, but a permanent increase in the bankruptcy threshold will apply. Before the pandemic, the minimum threshold to trigger a bankruptcy was $5,000: It was raised to $20,000 in March, and will be wound back to a new threshold of $10,000…
A former British Army worker and external contractor for Nottingham Tramlink swindled almost 60,000 after his gambling debt “spiralled out of control”. Paul Cooksey fraudulently accessed the funds through 23 different transactions, retaining season ticket funds from private companies or individuals under Tramlink’s Tram2Work scheme. The 43-year-old was initially uncovered by the company as part…