In short: Air Vanuatu is in voluntary liquidation and Ernst & Young have taken control of the national airline. Authorities are unable to say when international flights will resume as passengers remain stranded in Australia and Vanuatu. What’s next: Ernst & Young says it is moving as fast as possible so that passengers can get home. Air…
Almost six million Australians are struggling to make loan and debt repayments, but many are too ashamed to ask for help. The latest research released by the Moneysmart website, which is run by the Australian Securities and Investments Commission, found 47 per cent of adults with debt, the equivalent of 5.8 million people, have struggled…
Donald Trump’s defamation case brought by E. Jean Carroll could drive him to bankruptcy, attorneys have told Newsweek, particularly when combined with potential damages from his civil fraud trial. A second defamation trial brought against the former president and GOP frontrunner by Carroll started last week. In May 2023, the journalist was awarded $5 million…
Booktopia has entered voluntary administration after failing to secure emergency funding. In an ASX announcement today, the book retailer said it had appointed McGrathNicol partners Keith Crawford, Matthew Caddy and Damien Pasfield to oversee the company’s restructuring. “The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are…
Bruno Mars racks up huge debt of $50 million from gambling Bruno Mars is reportedly crumbling under pressure to pay off a hefty debt of $50 million that he made whilst gambling. The musician, who announced his multi-year residency with MGM Resorts International in 2016 in Las Vegas, racked up large debts at the table,…
Fashion chain Esprit’s Dutch subsidiary declared bankrupt, over 200 jobs lost The Brussels Times Read the original article here
On the 24 September 2020, the Australian Government announced changes to Australia’s insolvency framework to better serve Australian small businesses, their creditors and their employees. The changes introduced new processes suitable for small businesses, reducing complexity, time and costs for small businesses. Effective from 1 January 2021, these are the most significant reforms to Australia’s…
The average student debt is going to increase by at least $1100 in June, according to new parliamentary projections, but Prime Minister Anthony Albanese has hinted relief is coming in next month’s federal budget. Almost three million Australians have student debt, which will increase on June 1 when HECS-HELP indexation comes into effect. According to…
Guerra said some medium and large businesses were also struggling with high land and payroll taxes and Workcover premiums, warning the added pain would ultimately be passed on to consumers. He urged the government not to impose new taxes in the upcoming May budget. “If they can’t pass that on, then it starts to impact…
Consultants overseeing process say they hope to get the airline’s four planes back in the skies as soon as possible. Air Vanuatu, the national carrier of the Pacific Islands nation of Vanuatu, has gone into liquidation a day after it cancelled all flights leaving thousands of travellers stranded. More than 20 flights to and from…