Credit card debt most of us have had it at some point in our lives. According to a recent WalletHub study, American families owe an average of $7,800 on their credit cards and total credit card debt in the U.S. is more than $926 billion. If you are one of those with a lot of…
By Simon ReadPersonal finance reporter image copyrightGetty Images Half a million renters could lose their home without financial help, debt charities, lenders and landlords have warned. These renters are under pressure from debt they’ve built up since the pandemic. A group of organisations has asked the government for a targeted support package to help struggling…
A former PPB Advisory partner who was found to have provided fabricated documents to ASIC has now had his liquidator registration suspended. The Supreme Court of South Australia has decided to suspend Peter Ivan Macks liquidator registration for a period of three years, commencing once Justice Jeremy Doyle hands down final orders. The penalty decision…
Wednesday, February 17, 2021 COVID-19 continues to disrupt normal business operations, creating liquidity problems and negative working capital for many companies. As fund sponsors take actions to help their portfolio companies navigate through this time, they should alsosensitize directors to insolvency issuesand the associated litigation risks. As we have previously highlighted, bothfunds and fund managers…
Pacific Debt helps consumers out of debt using debt settlement, a process that comes with a certain amount of risk. With debt settlement, clients are asked to stop making payments on their bills, even if they are 30 to 60 days behind. Instead, debt settlement participants are asked to begin saving money in a separate…
Released 16 February 2021 The Government has confirmed that it intends to extend the power (granted through the Corporate Governance and Insolvency Act 2020) to make temporary amendments or modify the effects of corporate insolvency and governance legislation for an additional year. The government laid the regulations on 11 February 2021 in Parliament ahead of…
FTI noted the company failed the cash-flow test since it generated no income and it also failed the balance sheet test because it was in a negative net asset position. Unless Nevhouse receives a standstill from its creditors and has a reasonable prospect to pay these creditors, Nevhouse is insolvent, the draft report said. Nevhouse…
Getty-Images Cryptopia went into liquidation in May last year after a $24 million hack. More than $60,000 worth of cryptocurrency has reportedly been stolen from international currency exchange Cryptopia, despite the company being in liquidation following a $24 million hack. The alleged theft happened several months after it was revealed a former employee had been…
A CREDITOR wants the former operator of the goldfield under Bendigo declared insolvent because of a debt of just over $200,000. The Bendigo Advertiser has obtained a court document alleging Kralcopic Pty Ltd has failed to pay back $234,308.40 owed to company Gold Miners Australia Pty Ltd. It comes as Kralcopic fights on multiple fronts…
Ed Talbot, executive director of the New Hampshire Council on Problem Gambling, speaks at a celebration for two runners who had completed a half-marathon for 40 consecutive years. Talbot said physical exercise can be helpful in recovery for compulsive gambling. (Courtesy photo) New Hampshire lottery sales, particularly from online games, are surging during the pandemic,…