Firms providing debt management services need to apply to ASIC for a credit licence and become a member of AFCA by 30 June 2021. ASIC (Australian Securities and Investments Commission) hasreleased an information sheet for providers of debt management services, explaining their new regulatory obligations, including the requirement to be licensed. The release follows the…
A Lower Hutt company that makes prefab classrooms is in voluntary administration but the Education Ministry says it is working with it. The Ministry of Education says it is working with AdBuild and its administrators to ensure projects continue with as little disruption as possible (file picture). Photo: Ministry of Education AdBuild’s creditors appointed administrators…
MUMBAI: Ltd today reported a firm set of earnings for the quarter ended March even though the companys standalone bottomline missed Streets estimates by some distance. The steelmaker reported a near 50 per cent jump in revenues in the standalone business on a year-on-year basis, while the consolidated business saw sales rise 39 per cent.…
By Reuters Staff 2 Min Read ATHENS (Reuters) – Spains Prime Minister Pedro Sanchez on Sunday renewed his call for debt mutualisation, saying it will help Europe better compete with other countries around the world. Slideshow ( 2 images ) In an interview with Greek To Vima newspaper published on Sunday, Sanchez said that an…
A NEW breathing space scheme for people drowning in problem debt has come not a moment too soon, according to an insolvency trade body for Dorset. R3 Insolvency has welcomed the introduction of a 60-day grace period to allow people to get their finances back on track without receiving worrying letters or facing enforcement action.…
WILMINGTON, Del. (AP) Pierre S. Pete du Pont IV, a former Delaware governor and congressman who sought the Republican presidential nomination in 1988, has died. He was 86. Du Pont, a scion of the family that established the DuPont Co., died at his home in Wilmington, Delaware, on Saturday after a long illness, his former…
American statesman John Adams, who served as U.S. president from 1797 to 1801, famously said, There are two ways to conquer and enslave a country: One is by the sword; the other is by debt. China, choosing the second path, has embraced colonial-era practices and rapidly emerged as the worlds biggest official creditor. With its…
The number of people going financially insolvent after being unable to pay their debts across England and Wales fell by 5% in the first three months of this year. ome 29,140 personal insolvencies were recorded between January and March, the Insolvency Service said. It said the number of insolvencies was 5% lower than in the…
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm Ahluwalia Contracts India Ltd for defaulting on payments to an operational creditor. The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution…