There has been an increase in company insolvencies in Australia. Startups and early-stage technology companies have not been shielded from this, with recent high-profile collapses including Tritium and Milkrun. In this article we discuss insolvent trading risks, the state of the startup market, unique risks to startups and the protections offered by the “safe harbour”…
By David Ngira Somalia’s healthcare sector is ailing. This is despite the country receiving USD 4.5 Billion debt relief from IMF and the World Bank last year which moved the country’s debt to GDP ratio from 64% to 6%. The relief followed protracted negotiations under the Highly indebted Poor Countries Initiative. The country’s investment in…
The Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal’s (NCLAT) order, that approved the settlement deal between edtech major Think & Learn Pvt Ltd, the parent of online educational services company BYJU’s, and the Board of Control for Cricket in India (BCCI). A bench headed by Chief Justice D Y Chandrachud, while…
Creditors for budget carrier Bonza have today voted to liquidate the company after administrators failed in a bid to find a buyer. About 500 workers were sacked almost two months later and have been collectively owed an estimated $10.8 million in entitlements. Creditors for budget carrier Bonza have today voted to liquidate the company after…
Whether you’re watching TV, attending a footy game, or eating a meal at your local pub, gambling is hard to escape. Although the rise of gambling is not unique to Australia, it has become normalised as a part of Australian culture. While for some, gambling might be a source of entertainment, for others, it can…
Sankaet Pathak is the founder of Synapse, which filed for bankruptcy. A banking-as-a-service middleware platform’s slide into bankruptcy is another sign of trouble for this business model, where software providers connect licensed banks and nonbank companies that want to take deposits and extend loans — and sometimes promise to offload part of the compliance burden. …
Rex collapses with 600 jobs at risk as all capital city flights axed Sydney Morning Herald Read the original article here
Debt relief can help you improve your credit score. Getty Images/iStockphoto If you’re thinking about enrolling in a debt relief program, you may be apprehensive about the impact doing so could have on your credit score. After all, these services may cause your score to fall, making it more difficult to access loans and credit…
On May 31, Hirschmann Multimedia Holding B.V. filed for provisional suspension of payments, which has now been converted into bankruptcy. According to CEO Dick Kroon, the bankruptcy of Hirschmann Multimedia Holding B.V. and the adjacent Hirschmann Multimedia B.V. is due to the failure of a desired settlement payment arrangement with the tax authorities. While this…
It has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didn’t eventuate. At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow…