International high-roller gamblers left Crown Perth fighting to recover debts as high as $29 million, the Perth Casino Royal Commission has been told. Key points: Luring high rollers to Crown often resulted in big debts, it was heard One gambler racked up $29 million in debt Recouping the money was hard because most lived overseas…
Small business closes doors during COVID-19. Source: Unsplash/Anastasiia Chepinska. Australias latest lockdowns pose a challenge for the Australian Tax Office: start collecting the business debts outstanding from 2020 and risk putting companies under further pressure, or allow those debts to continue to grow. The news this week that businesses with over $100,000 in tax debts…
A report issued this week by the global corporate consultancy firm EY, formerly known as Ernst & Young, provides a naked picture of the financial aristocracys exploitation of the COVID-19 pandemic to accelerate the pro-business restructuring of tertiary education. Part of Macquarie University in Sydney [Credit: mq.edu.au] The report, entitled The Peak of Higher Education,…
PRESIDENT Samia Suluhu Hassan on Tuesday addressed the 41st Ordinary Summit of SADC Heads of State and Government, calling for debt relief to help developing nations overcome the effects of Covid-19 pandemic. The Tanzanian President underlined the need for regional leaders to speak with one voice in asking for debt relief or extension of repayment…
One of Sydneys most iconic restaurants and late-night hangouts in Chinatown has become the latest victim to the states strict Covid-19 lockdown restrictions. Golden Century Seafood Restaurant on Sussex Street in the Chinatown district has gone into administration after serving Sydneysiders for 31 years. Frequented by politicians and anyone looking for a delicious and authentic…
One of Sydneys most iconic eateries Golden Century Seafood Restaurant has gone into administration with the owners blaming the ongoing impact of COVID-19 shutdowns and a lease dispute. Chifley Advisory has been appointed administrator of the institution in the heart of Sydneys Chinatown and a meeting of creditors will be held on August 27. Golden…
Enlarge this image U.S. Education Secretary Miguel Cardona speaks at a March briefing at the White House. Drew Angerer/Getty Images hide caption toggle caption Drew Angerer/Getty Images The U.S. Education Department announced Thursday that it is discharging the outstanding student loans of more than 323,000 borrowers who have significant, permanent disabilities, and will remove barriers…
Money / Business jacoblund / Getty Images/iStockphoto The difference between bankruptcy and insolvency can be confusing. However, its important to understand the distinction, especially if you own or run a company. Keep reading to take a look at insolvency and explore how it differs from bankruptcy. What Is Insolvency? Insolvency refers to an individual or…
By Ed Frankl Thyssenkrupp AG said Thursday that it will sell its Carbon Components business to Action Composities GmbH as it continues to slims down its portfolio as part of a corporate restructuring. Carbon Components, which has around 100 employees, develops and produces high-performance braided wheels for sports cars, motorcycles and mountain bikes, among other…
If Star were eligible to buy any of Crowns casinos, this is an option that its chief executive, Matt Bekier, says would also be looked at but it would depend on the price of Crowns pieces he said. Loading But to capitalise on potential opportunities, Star needs the financial readies. And thats where the restructuring…