The number of West Australians falling behind on their mortgages is skyrocketing. Personal insolvency in WA reached record levels in the March quarter, reflecting the human impact of the end of the mining boom. Nationally there was a 10.8 per cent rise in personal insolvencies in the quarter but WA led the rise with a…
Debt relief for Greece will be looked into at the next Eurogroup meeting on 22 May, according to Jeroen Dijsselbloem. The president of the informal body of the eurozone’s finance ministers made the announcement during a plenary debate in Parliament on 27 April. He also apologised to MEPs about recent remarks that proved controversial. Greece…
With the corporate insolvency law nearly fully rolled out, the focus of the government is likely to shift towards implementation of what is probably the more difficult part of the Insolvency and Bankruptcy Code. With the corporate insolvency law nearly fully rolled out, the focus of the government is likely to shift towards implementation of…
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BBC star became business partners with Lymington landlord Rob Smith in 2014 Mr Smith, who ran The Haven since 2002, then embarked on expensive refurb DJ called bar the ‘best on the south coast’ and used it during Children in Need But three years on the bar has been shut down and Mr Smith declared…
Rent controls could help to trigger a renaissance of Britain’s seaside towns, a report argues. The Housing and Finance Institute said dysfunctional housing markets are at the heart of a “spiral of decline” in many coastal communities. It argues that tenants and taxpayers are often overpaying for housing which is not worth the rent being charged.…
Italy’s troubled airline Alitalia is set to begin insolvency procedures that could see the company close down within a few months, in a move coming after its workers rejected a fresh round of job and wage cuts. Alitalia hasn’t turned a profit since 2002, and has been on the brink of bankruptcy three times in…
Insolvency insurance stands behind German and Swedish book-reserve pensions, but the concept has not really caught on elsewhere. Brendan Maton explores the world of unfunded and partially funded pension schemes with an external underpinning At a glance Germanys direct promise pension system, traditionally financed by book reserves, now covers more than 8m workers. Swedens PRI Pensionsgaranti…
Rod Culleton seeking an unlikely Senate return. FORMER One Nation Senator and WA farmer Rod Culleton is making fresh moves to try and reclaim his seat in federal parliament by lobbying former colleagues, at the expense of his replacement and brother-in-law Peter Georgiou. Mr Culleton has returned to farming at Kojonup in the southern WA…
A Sydney-founded startup aiming to disrupt Australias multibillion-dollar debt collection industry has secured close to $1 million in a seed round led by Westpac-backed venture capital outfit Reinventure. Angel investors including Invoice2Go chief executive Greg Waldorf and Spotcap Australia managing director Lachlan Heussler also participated, as did investors Mike Zimmerman and Craig Carroll. InDebted, founded by…