While there has been a substantial rise in business collapses, new data suggests they are not causing a spike in personal insolvencies. Australian Financial Security Authority (AFSA) has released details of the root causes of personal insolvencies in Australia last financial year, and noted that most personal insolvencies are not business related. In [financial year]…
BERLIN (Reuters) – Lufthansas (LHAG.DE) supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlins creditors have selected Lufthansa and British budget carrier easyJet (EZJ.L) to negotiate over a carve-up of its…
New data from the Australian Financial Security Authority (AFSA) has revealed that excessive credit use has overtaken unemployment/loss of income as the most common cause of personal insolvency. The government agencys research found that of a total 25,225 cases of non-business related personal insolvency for the 2016-17 period, 8,870 (slightly over 35%) were due to excessive…
The job of an insolvency resolution professional (IRP) is not all about exercising power just because he or she is is empowered, said Ashish Chhawchharia , partner restructuring services, Grant Thornton Advisory , which is now engaged in supporting ongoing insolvency proceedings at many firms including two of the large dirty dozen cases -Alok Industries…
By JAINDI KISEROMore by this Author I am well aware that the obsession of the moment in this country right now is politics. But I have decided to return to the issue of the government-backed bailout of Uchumi Supermarkets Ltd. I am compelled to do so in reaction to comments and inquiries by suppliers and…
Related Story: Alleged mastermind behind tax-evasion scheme ordered to pay $8.5m Related Story: ‘Too many to count’: Controversial finance adviser’s alleged crimes laid bare An elderly Queensland couple face losing their home and business after falling victim to the alleged mastermind of a massive tax-evasion scheme, in a case…
Hurrah for the Alexandra Blossom Festival. Every year the colourful pink and white blossom adorn the fruit trees of the district, heralding longer days, warmer times and bounty on the branches. Every year, too, for 61 occasions, Alexandra has celebrated its blossom festival. Last year, when the 60th was marked, bumper crowds turned out and…
Eyeing Air Berlin, Lufthansa board backs extra investment for Eurowings BERLIN (Reuters) – Lufthansa’s <LHAG.DE> supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlin’s creditors have selected Lufthansa and British budget…
BERLIN (Reuters) – Lufthansas (LHAG.DE) supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlins creditors have selected Lufthansa and British budget carrier easyJet (EZJ.L) to negotiate over a carve-up of its…
MUMBAI: The National Company Law Tribunal (NCLT) has adjourned the hearing of Ericsson’s petition to admit the insolvency case against Reliance Communications (RCom) to October 6 . Rcom’s senior counsel Ravi Kadam told the bench comprising of BSV Prakash Kumar and V Nallasenapathy that if both parties do not reach a settlement by the allotted…