Happy New Year – the Small Business Insolvency Reforms Come to the Party – JD Supra

For many, 2020 has been the year to forget. The Coronavirus pandemic (COVID-19) has halted global economies and initiated recessions across continents and countries, including Australia. In an attempt to alleviate the financial impact of COVID-19, the Australian Government has implemented various reforms (both temporary and permanent) designed to provide relief to financially distressed businesses.…

Debt consolidation loan work

Whether a debt consolidation loan suits you really depends on your circumstances, so it’s important to know exactly how it works before starting your journey out of the red and into the black. 1. Brings all your debts together The idea behind a debt consolidation loan is that it’s enough for you to repay all your…

Weilin cotton trader’s 20c payout offer banked by cotton creditors – The Australian Dairyfarmer

Agribusinesses and farmer creditors left out of pocket after the crash of failed Chinese-owned cotton marketer Weilin Trade have been paid 20 cents for every dollar they were owed. Weilin’s administrators suggest there is a chance a further small dividend of maybe one cent more could follow after the receivership process winds up. However, its…