Guerra said some medium and large businesses were also struggling with high land and payroll taxes and Workcover premiums, warning the added pain would ultimately be passed on to consumers. He urged the government not to impose new taxes in the upcoming May budget. “If they can’t pass that on, then it starts to impact…
The city council has faced a number of major financial shocks in recent years. One of the major challenges has been been the long-running saga over the renovation of the Broadmarsh centre (pictured below). Work to revamp the 1970s complex began in 2019, but within months owners Intu went into liquidation leaving the city council,…
Katie Price has said she missed a court hearing where she was declared bankrupt for the second time because she was “dealing with serious stuff”. The former glamour model and TV personality owes nearly £762,000 to HM Revenue & Customs (HMRC), which issued a bankruptcy petition last October. The debt comes from her tax self-assessments…
Health officials will launch an independent review into the financial viability of the radiation oncology sector after the country’s largest provider of cancer services, GenesisCare, emerged from bankruptcy a far smaller group. GenesisCare, founded in Brisbane and backed by KKR, fell into bankruptcy protection in the United States on June 1. As part of the…
Councillors at Birmingham city council “ignored the warning signs” of its financial crisis and caused a “self-inflicted” disaster that will take years of cuts to rectify, according to the lead government commissioner drafted in to help. Local government expert Max Caller, who has been nicknamed Max the Axe for his unsparing approach to budget cuts,…
EuroScience, the association behind the European Science Open Forum (ESOF), Europe’s largest science conference has gone bankrupt after failing to secure funding for the 2026 event. This year’s ESOF will go on as planned in Katowice, Poland, but uncertainty looms over the future after the European Commission, a co-funder of the conference, changed the way…
The Federal Court has recently delivered judgment in the case of Cooper as Liquidator of Runtong Investment and Development Pty Ltd (In Liq) v CEG Direct Securities Pty Ltd [2024] FCA 6, a case where a liquidator was successful in having a mortgage declared as an unreasonable director-related transaction. Key Takeaways To declare that a transaction…
Enviva, the world’s largest maker of wood pellets with four plants and an export terminal in North Carolina, has declared bankruptcy but says it expects to emerge with its business intact. Maryland-based Enviva announced late Tuesday that it had reached agreements with several of its creditors that will allow it to reduce its debt by…
Highlights Eike Immel, former Man City goalkeeper, has declared bankruptcy and now lives off benefits in a council flat. Immel’s financial struggles began after spending heavily on bills and personal expenses during his football career. The German is one of many former footballers facing financial difficulties post-retirement, with 40% estimated to go bankrupt within five…
A growing number of larger technology companies are scrambling to restructure their operations to avoid insolvency, as stubbornly high labour costs and a tough capital-raising environment mean directors are flirting dangerously with insolvency, new data shows. Tim Klineberg of King & Wood Mallesons says Safe Harbour is a strategy for company owners to consider when…