Given the stakes both for students and the budget it is important for policymakers and the general public to understand the effects of different forgiveness options. Many economists have already pointed out that loan forgiveness would disproportionately help people on the upper end of the earning scale: Two scholars with the Brookings Institution, for instance,…
High-profile construction group, Ganellen, placed one of its companies into administration last week, midway through a court battle over defects and only days after it was fined over the worksite death of a young apprentice. The Ganellen construction group was founded in 1998 by building magnate-turned-television star Peter Maneas. One of its entities traded for…
The Columbus Dispatch The staggering student loan debt in this country estimated to be around $1.6 trillion stymies much of its young population. Many borrowers are putting off having families because they can’t afford the expense of raising children. Nor are they buying houses or cars, which would boost the economy. This has led some…
Temporary changes to debt relief and bankruptcies brought into being in March will cease on Friday, with the bankruptcy threshold lifted. On 24 March of this year, thefederal government announced a series of changes to bankruptcy law as part of itswider economic response to the COVID-19 pandemic. Among the temporary changes implemented for personal bankruptcywere:…
A national insolvency firm has announced the launch of its dedicated Asia desk, designed to provide Australian-Asian businesses with specialised advice and expertise. Jirsch Sutherland has launched the Asia Desk, which comprises a multinational team of high-calibre insolvency, restructure and recovery specialists who have a strong knowledge of both local and Asian business cultures, practices…
The inquiry heard that the ANZ and Commonwealth banks had shut down some accounts after Crown patrons used them to make a string of suspicious cash transactions totalling hundreds of thousands of dollars. The accounts were held through two shell companies Crown set up called Southbank Investments and Riverbank Investments, the inquiry heard. Gamblers transfer…
Administrators documents name it as a related entity to Icon Co (NSW) Pty Ltd, the company that built Sydneys cracked Opal Tower. At a recent creditors meeting it was revealed that the former of the companies is being chased over alleged defects in apartments it built at Rosebery, Waterloo, Hurstville, Bondi, Lane Cove, Greenwich and…
12:16 28/12/2020 MOSCOW, December 28 (RAPSI) The Supreme Court of Russia has refused to overturn a ruling declaring board chairman of New Stream oil and gas company and former co-owner of troubled Antipinsky refinery Dmitry Mazurov charged with 4 billion-ruble embezzlement (about $55 million at the current exchange rate) insolvent, according to court records. In…
The latest effort to revive the struggling South Korean car maker has failed, and it is now seeking new investors. Struggling South Korean car maker Ssangyong says it is business as usual and will continue to sell and service cars in Australia despite filing for bankruptcy just days prior to Christmas 2020. Ssangyong has been…