The hospitality group founded by former Australian rugby player George Gregan and his ex-wife Erica Gregan has been placed into administration, largely driven by theend of JobKeeperand leasing protections. Following the appointment of SV Partners director Ian Purchas as administrator late on Friday, GG Leasing closed two of its nine outlets and reduced the number…
The Lithgow Aged Care Home, 140km west of Sydney, which houses 73 residents and employs more than 120 staff, has gone into voluntary administration after losing its accreditation by failing to meet 38 of 42 industry standards. We reported here that the aged care home appealed the ruling, which leaves residents with the prospect of…
In response to the emergence of the COVID-19 pandemic in Australia in 2020, the federal government injected an unprecedented level of stimulus into the Australian economy and introduced temporary law reforms aimed at protecting against an anticipated “tidal wave” of insolvencies. These temporary law reforms included a moratorium on civil liability for insolvent trading for…
Borrowers defrauded by their schools could see all of their direct federal student loans canceled. Credit: Getty Images/iStockphoto Last week, the Department of Education announced a change that waslargely summarized as the cancellation of $1 billion in student loan debt. The announcement garnered attention because of the Biden administrations past discussion of student debt forgiveness.…
Advertisement Wednesday, March 24, 2021 The Government has issued aconsultation paperregarding statutory audits and financial reporting. The consultation makes proposals in relation to four areas, namely directors, auditors and audit firms, shareholders and the audit regulator. We havepreviously summarisedthe proposals impacting the purpose and scope of an audit. This post will focus upon the matters…
Another win for the Duchess of Sussex. One of Meghan Markles lawsuits has left a prominent paparazzi agency bankrupt nearly a year after they obtained private photos of her and Prince Harrys son, Archie. The company, Splash News & Picture Agency, officially declared Chapter 11 bankruptcy following their legal battles with Meghan, The Hollywood Reporter…
The sooner you begin, the more time you have to save. So start today. Living a debt-free life is one of many peoples dreams, but most dont get to achieve it for reasons as simple as not knowing how. In this article, lets look at verified and straightforward ways of saving, paying off loans and…
Editorial Independence We want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. Sometimes it actually does make sense to put all of your eggs in…
As a follow on to last weeks article on restructuring farm debt, personal insolvency may also be an alternative debt solution. If you are in financial difficulty and your loans have been sold to a vulture fund you will need specific professional advice from a personal insolvency practitioner (PIP). A PIP will help you decide…
Farmland is intrinsically linked to farm family homes and debt secured against it should be considered relevant debt under personal insolvency legislation, according to IFA Farm Business Chairperson Rose Mary McDonagh. n IFA delegation recently met with the Minister for Justice Helen McEntee and the Minister of State for Law Reform James Browne to discuss…