(Bloomberg) — The World Bank’s top economist called on private lenders to shoulder some of the cost of debt forgiveness for the poorest countries, as record high repayments drain budgets that should be focused on health, education and infrastructure. Interest payments alone by the lowest-income nations ballooned to a record $34.6 billion in 2023, quadrupling…
The World Bank’s top economist called on private lenders to shoulder some of the cost of debt forgiveness for the poorest countries, as record high repayments drain budgets that should be focused on health, education and infrastructure. Interest payments alone by the lowest-income nations ballooned to a record $34.6 billion in 2023, quadrupling over the…
This week’s TGIF considers the recent Federal Court of Australia decision in PricewaterhouseCoopers Inc in its Capacity as Foreign Representative of IE CA 3 Holdings Ltd v IE CA Holdings Ltd [2024] FCA 1208, concerning a cross-border insolvency application. Key takeaways: PricewaterhouseCoopers Inc in its Capacity as Foreign Representative of IE CA 3 Holdings Ltd v…
Seniors saddled with high-rate credit card debt should start exploring their debt relief options now. Getty Images The end of a calendar year is always a smart time to reconsider your financial health. Unfortunately, for many Americans, the last few years have been a time of economic burden. And the numbers support this reality: Credit…
CHPT3, the cycling clothing brand founded by former pro racer David Millar, has entered liquidation and ceased trading with immediate effect. The brand’s website now just displays a statement communicating the news, the notice saying that Wilson Field Limited has been instructed to assist in the liquidation and CHPT3 has “now ceased to trade”. It…
Business insolvencies are running at more than double the rate of last year — and one economist says the failure rate exceeds that of the global financial crisis. There were 72 liquidations in October administered by the Insolvency and Trustee Service, just down from 74 in September. Of those, 37 were in Auckland. In comparison,…
Wellington food company in liquidation after 32 years Stuff Read the original article here
Their products could also be found in Wellington’s Moore Wilson’s and Auckland’s Farro Fresh. Alamir’s product range includes hummus, falafel, and pita bread but customers have noticed them missing from supermarket shelves recently. Photo / Alamir Bakery. In 2021, managing director Ali Dia told the Herald the company was started by his father as an…
Neither the local management nor the company’s lawyers were present at the Luxembourg Commercial Court at 9am on Friday 29 November. However, Liberty Liège-Dudelange and its Luxembourg site were declared bankrupt after the management admitted that it was in suspension of payments. Olivier Wagner was appointed receiver in front of a few journalists and the…
Motions brought by boom-time developer Seán Dunne in an effort to dislodge officials overseeing his bankruptcy have been dismissed by the High Court. Mr Justice Liam Kennedy said Mr Dunne (70) failed to bring new proceedings and instead took a procedurally incorrect route in seeking to challenge the validity of two officials’ appointments within the…