China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities – Reuters
China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities Reuters Read the original article here
Govt steps in to guarantee Rex regional flights; administrator welcomes news
Stay on top of all of the latest news about Rex’s voluntary administration, plus its impacts on travel and the travel industry in one place, right here. We’ll continue to refresh stories about Rex Airlines as they come to hand, so be sure to check back for the most current and accurate travel industry updates.…
Man’s cocaine and alcohol addiction led to gambling and drug debt
Sean Alexander, 36, from Wimbledon, found his addictions spiralled so out of control that he owed over £60,000 in drug and gambling debts. Facing threats from dealers, he lost everything and became suicidally depressed until rehab turned his life around. He now helps others battling similar issues. Sean Alexander’s drug and alcohol addiction issues were…
Melbourne woman to declare bankruptcy over $150k debt at just 30
A woman who owned a Melbourne bar that went bust has revealed she is in the “scary situation” of having to file for bankruptcy as she faces $150,000 in debt. Liv Franklin was the owner of Follies, a vegan antipasti bar in Fitzroy, which closed down at the end of March. She said there were…
Monster company collapses owing $80m – news.com.au
Monster company collapses owing $80m news.com.au Read the original article here
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‘Tsunami’ of headwinds faces builders as collapses surge by a third
The director of collapsed Canberra-based fitout and refurbishment business Rork Projects says a “tsunami of impossible economic conditions” is hitting the construction industry as the latest official figures point to a 32 per cent surge in insolvencies across the sector this financial year. As of March 10, 1913 construction companies had entered administration or appointed…
Bonza administrators get two-month extension to save airline, employees remain in limbo
In short: The Federal Court has granted Bonza administrators a two-month extension to find a solution for the embattled airline. Staff who remain stood down without pay say they’re desperate for money and can’t accept other jobs without risking their entitlements. What’s next: Administrators say employees and other creditors will be better off if the company avoids going into liquidation.…
Jontay Porter pleads guilty in case tied to gambling scandal that tanked his NBA career
NEW YORK (AP) — Former NBA player Jontay Porter admitted Wednesday that he schemed to take himself out of games for gambling’s sake, pleading guilty to a federal conspiracy crime in the scandal that already got him banned from the league. READ MORE: NBA bans Jontay Porter after gambling probe shows he shared information, bet on games “I know…
Zhongzhi, one of China’s major shadow banks, declares itself ‘severely insolvent’ | Economy and Business
Building of the People’s Bank of China in Beijing. The Chinese trust sector has once again set off alarm bells with the announcement that Zhongzhi Enterprise Group is declaring itself “severely insolvent.” The Beijing-based conglomerate has reported that it faces a shortfall of 260 billion yuan, the equivalent of $36 billion, and has warned of…