Intelsat has a plan to emerge from its Chapter 11 bankruptcy protection. It involves slashing debt owed by more than half, from $15 billion to $7 billion. But the debtors must agree to those losses. If not, the company faces a more dire outcome, including the likely liquidation of its recently acquired Gogo Commercial Aviation…
Date: 15.02.2021 Creditors and administrators meetings remain unsuccessful An agreement failed to be found Two WridgWays Australia subsidiary businesses are going into liquidation over a month after being placed in voluntary administration. The decision comes after meetings between administrators, SV Partners Timothy Brace and Peter Gountzos, and creditors regarding the decision to appoint a committee…
A Victorian principal spent almost $23,000 of his government-funded school’s money on gambling, booze, gift cards and an overseas holiday. Between 2016 and 2018, cheques for school equipment were deposited into the principal’s own bank account, at his request, resulting in the misuse of $22,850. Ombudsman Deborah Glass declined to name the principal or school…
In the past, managing your budget was done with a pen, paper and good old fashioned calculator. Fast forward to 2021 and theres an app for almost every kind of spender. According to recent ING research, around 2.9 million Aussies say they are more financially prepared than ever for 2021, so why not join the…
The research wing of Insolvency and Bankruptcy Board of India has suggested an online platform for sale of stressed assets to bring in more transparency and better price discovery. In its assessment report on Corporate Insolvency and Resolution Timeline, it said the platform can be prepared on similar lines as investindia.gov.in specifically for stressed assets…
For most directors, COVID-19 has caused a shock to their business. Either a bad shock, where business viability and sustainability has been challenged, or a good shock that has led to a surge in demand for products and services. Usually shocks lead to action you suffer a heart attack, and you and your family reassess…
A Victorian principal spent almost $23,000 of his government-funded school’s money on gambling, booze, gift cards and an overseas holiday. Between 2016 and 2018, cheques for school equipment were deposited into the principal’s own bank account, at his request, resulting in the misuse of $22,850. Ombudsman Deborah Glass declined to name the principal or school…