Bill Ferg (Vasilios Fergadiotis), owner of Melbourne’s Lobster Cave restaurant, has submitted a last-minute proposal to creditors to avoid bankruptcy, aiming to settle over $7 million in debts through a personal insolvency agreement. The offer was made just two days before a scheduled Federal Court hearing. If rejected, Ferg could be declared bankrupt and forced…
What Is Revolving Credit? Revolving credit refers to a type of credit account that allows the borrower to repeatedly borrow up to a certain limit. Making payments reduces the balance owed and frees up credit, which can be used again. Credit cards, personal lines of credit, and home equity lines of credit (HELOCs) are all…
A major sanitary wholesaler in Germany will be ceasing its business operations. The company’s 230 employees received termination notices at the end of August. The company, Sanitop-Wingenroth, once a flagship business in the region, faced financial difficulties due to unmet sales expectations…
The bankruptcy of the Hudson’s Bay Company (HBC) is often framed as the fall of “Canada’s oldest company.” Media narratives typically treat HBC as if it were a straightforward retail firm, albeit one with an exceptionally long history. But HBC was always more than a hinterland mercantile fur trader in earlier centuries, just as it…
The major has announced policy to help those with student debt access funding for home loans. The Commonwealth Bank of Australia (CBA) has introduced changes to how HECS-HELP debt is assessed, allowing better access to funding. Coming into effect tomorrow (9 April), CBA will no longer consider HECS debt if it is due to be…
A second KleuterZone company has been put into provisional liquidation. On Friday, the Western Cape High Court granted an order for the provisional winding up of KleuterZone (KZ) Ventures, a management company of the controversial KleuterZone franchise. Rikus Hartman, who applied for the provisional liquidation of KZ Ventures and is also the appointed liquidator for…
SGR ASX: The stand-off that blew up Star’s super-sized debt deal AFR Read the original article here
NCLAT Fortnightly: Important orders on IBC (January 1 – January 15, 2025) Bar and Bench Read the original article here
Bruno Mars Jokes About His Gambling Debt Rumors Following Spotify Record: See What He Said MSN Read the original article here
BRIPAN, Federal High Court partner on business insolvency The Nation Newspaper Read the original article here