Analysis of taxpayer data sheds light on who actually benefits from the government’s new HELP policy. Education Minister Jason Clare (Image: AAP/Lukas Coch) Lower repayment thresholds and higher inflation has created a new class of hundreds of thousands of Australians with HELP debts that go backwards even as taxpayers are charged for them, 360info analysis…
The pace of US corporate bankruptcy filings decelerated at the start of the new year, though companies still face relatively high interest rates and a challenging labor market. S&P Global Market Intelligence recorded 36 bankruptcy filings in January, down from a revised 49 in December 2023 and below most monthly filing totals in the previous…
The director of a childcare company that plans to acquire 31 underperforming centres from G8 ran another childcare venture that went broke late last year, owing almost $5 million rent to a landlord. Darren Misquitta, director of Genius Childcare, was also accused of failing to supply key financial records to a liquidator, according to a…
Navicore Solutions is a nonprofit debt relief counseling organization that offers services for debt management plans, credit card payoffs, bankruptcy and foreclosure counseling, student loan advice, and disaster recovery. With 30 years of experience, Navicore Solutions has helped thousands of consumers eliminate debt and become better at financial management. This Navicore Solutions review will assess…
Rising numbers of firms going bust overtake financial crisis insolvency levels MSN Read the original article here
The administrators of a formwork company involved in a suspected $180 million tax fraud have reduced an $11 million payroll tax debt to just $1 and executed a deed that effectively shuts down investigations. Revenue NSW this week launched a rearguard action in the Federal Court against Jones Partners principals Bruce Gleeson and Daniel Soire…
Gateway Liquor Wholesalers, a Sydney based distributor, has announced that it is entering into liquidation. The notice was given at a general meeting of the members of the company last Friday 1 March. The ASIC notice named Clifford John Sanderson and John Raymond Gibbons as liquidators. However, a timeline of the process is yet to…
The involuntary bankruptcy threshold will lift from $10,000 to $20,000, Attorney-General Mark Dreyfus says, giving debtors more breathing room before their creditors can launch court action. On Monday, Attorney-General Dreyfus said the federal government will introduce a suite of reforms to the bankruptcy system, bringing it up to speed with the contemporary economic landscape. In…
More companies went bust last year than in the 2008 financial crisis, according to new figures from the Insolvency Service. A total of 25,551 business insolvencies were recorded last year, more than the 25,186 that collapsed in the year from August 2008 to July 2009 including corporate giants like investment bank Lehman Brothers. The numbers…
Interpath Advisory welcomes two new corporate insolvency practitioners Accountancy Today Read the original article here