The rising numbers of personal insolvencies have been driven by an increase in individual voluntary arrangements The number of people going insolvent across England and Wales jumped by a fifth in the third quarter of 2016 compared with the same period a year earlier. There were 24,251 personal insolvencies between July and September, marking a…
Family First senator Bob Day has confirmed he will return to the Senate next month to support the government on industrial relations and the same-sex marriage plebiscite, despite announcing his resignation. With his housing construction empire in liquidation, Senator Day faces being expelled from Parliament if he is declared bankrupt, and last week announced he…
“If houses are being completed and trade contractors and others are being paid, then I may stay on as senator”. (AAP) Family First senator Bob Day says he may see out his parliamentary term if an investor can “revive” his housing group, which owes almost $38 million to creditors. But Senator Day also said in…
Family First senator Bob Day has confirmed he will return to the Senate next month to support the government on industrial relations and the same-sex marriage plebiscite, despite announcing his resignation. With his housing construction empire in liquidation, Senator Day faces being expelled from Parliament if he is declared bankrupt, and last week announced he…
Putrajaya wants to enforce automatic discharge after three years and raise threshold for declaring a person bankrupt from RM30,000 to RM50,000. PETALING JAYA: Proposed amendments to the Bankruptcy Act 1967 will see an automatic discharge after three years for anyone declared a bankrupt, TheSun reported today. This is one of the major changes that could…
Debtor cases fell across half the country’s regional areas. Despite significant rises earlier in the year, personal and business-related insolvencies in regional areas remained stable during the September quarter. The Australian Financial Security Authority (AFSA) has released regional personal insolvency statistics for the September quarter 2016. Personal insolvency cases fell across half of the country’s…
Introduction Risks associated with sale of distressed businesses Securing sale of distressed businesses Introduction With standard M&A policies in mind, the risks associated with distressed businesses are often considered from the purchaser’s perspective, rather than the seller’s. From the seller’s viewpoint, the sale of a distressed business is legal and considered to be without no…
Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar have topped the young rich list yet again. Picture: Kelly Sullivan AUSTRALIAS richest young guns are worth a combined $12.3 billion and counting. And if youre hoping to join their ranks, one industry lays claim to the largest number of wealthy up-and-comers. Tech start-up unicorns are now worth…
The number of people going insolvent across England and Wales is expected to increase in official figures released on Friday. Experts have suggested the days of falling personal insolvency levels may be coming to an end as consumers grapple with underlying debt problems. Official figures for the third quarter of this year, which will be…
You may also like: October 27, 2016, 9:40 am A UK processor ultimately 80% owned by a businessman subject to a bankruptcy restrictions order is seeking to counter allegations made in a letter doing the rounds of the sector, that it is a scam company. Despite the letter being anonymous, Cook & Lucas Frozen (UK) —…