THE role of the Australian Taxation Office in the $7 million collapse of a 75-year-old Brisbane building products firm is being questioned by the company’s administrators. Directors of Wacol-based Sharp Plywood, which had worked on some of the state’s most iconic public buildings, called in administrators in May after a fellow director launched a winding…
If you go back a decade, Palermo had threatened to become a major force in Serie A football. Coronavirus Outbreak Coverage|Football News Known as U.S. Citta di Palermo, the Sicilian outfit secured three consecutive top-six finishes between 2004 and 2007 but there was something different about their famed 2009-10 side. There was an extra sprinkle…
A former retail worker who tried and failed to blackmail the Romeo family has been forced into bankruptcy by the man he roped in to the scheme with promises of repaying a $320,000 debt. Christopher Garuccio was sentenced to two and a half years in prison for attempting to scam more than a million dollars…
Prosecutors announced on Wednesday that eight suspects were arrested for their role in siphoning over US$157 million out of VBS Bank, a publicly owned lender that primarily provides mortgages and short-term loans to low-income South Africans. Head of the National Prosecuting Authority Shamila Batohi announced on Wednesday that 8 individuals were arrested in connection with…
NORTHERN EXPOSURE NORTH Lakes, north of Brisbane, has emerged as one of Australia’s worst bankruptcy hot spots. According to figures from the Australian Financial Security Authority, the suburb in the heart of Brisbane’s mortgage belt had the highest per capita number of personal insolvencies at the end of March. The percentage was 0.096 per cent,…
Prior to the March sell off this year, our flagship fund held almost 30 per cent in cash and our small companies fund held more than 40 per cent in cash. In December/January the ASX200 Industrials Index was trading at a record 26 times 12-month forward earnings. At the same time, one-year-forward earnings estimates had…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 54 bankruptcies in week 24. This is 10 down on the previous week. In addition, 6 sole proprietorships were declared…
Less than two years after its high-profile listing, shares in Aston Martin have shed over 95% of their value. Has the brand lost its mojo, or will its corporate restructuring efforts mark the beginning of something special for the luxury car manufacturer? A pedigree dating back more than 100 years Formed in 1913, the British…
ONE of the regions largest liquidation firms fear waves of insolvency rates will flow on the Sunshine Coast once the government support tap turns off. Worrells Solvency and Forensic Accountants partner Paul Nogueira said insolvency rates had been down since March due to the Federal Governments lifeline packages which kept businesses afloat. READ: No incentive:…
Happy Monday’s legend Bez went into the Celebrity Big Brother house unashamedly admitting he was in it for the money. The Manchester maraca player had been declared bankrupt months before he signed up to the Channel 4 show and he was determined to use his fee – or even better the winnings – to pay…