Wagga City Councils dealings with Douglas Aerospace were plagued by gross ineptitude and mismanagement on the part of its staff, the external review into the saga has concluded. The Advertiser can for the first time reveal the contents of the external report conducted by Prosperity Audit Services into councils relationship with Douglas Aerospace a document which paints a damning picture of…
Quite a saga: Creditors tried to depose administrators of failed South Australian fertiliser companies Megafert and Interfert. Source: News Limited LAST week the Australian Securities and Investments Commission fired a shot across the bows of insolvency companies. In forcing Tony Matthews, of Anthony Matthews and Associates, into an enforceable undertaking arrangement, ASIC has effectively placed…
NEW GOVERNMENT statistics have revealed that Torbay is the second worst Parliamentary constituency in the country for bankruptcy rates. The statistics show that 9.8 people per 10,000 were declared bankrupt in 2014 – 78 new bankruptcy cases – with only Wythenshawe and Sale East having a higher rate of new bankruptcy cases. Torbay also had…
Published 15/12/2015 Coastal areas featured strongly among the areas with the highest personal insolvency rates Vale of Clwyd, Stoke-on-Trent North and Torbay were the parliamentary constituencies with the highest personal insolvency rates across England and Wales last year, according to official figures. Coastal areas featured strongly among the areas with the highest personal insolvency rates,…
By Press Association Published: 02:02 EST, 16 December 2015 | Updated: 02:02 EST, 16 December 2015 Vale of Clwyd, Stoke-on-Trent North and Torbay were the parliamentary constituencies with the highest personal insolvency rates across England and Wales last year, according to official figures. Coastal areas featured strongly among the areas with the highest personal insolvency…
Torquay and Plymouth are in the top 25 list of UK places where people struggle the most with insolvencies Comments (0) A South Devon town is topping the list of places in the UK for the number of insolvencies. Torquay continues to top the list as the town with the highest rate of personal insolvencies, with…
Woolies and Qantas in loyalty rejig Woolworths loyalty card members will be able to swap grocery discounts for Qantas Frequent Flyer points after the retailer, under pressure from customers, reached a new partnership agreement with the airline. The Fin Legal threat to Apex directors Apex Minerals liquidator Bryan Hughes plans to launch legal action against…
Gold Coast financier Peter Drake. Photo: Louie Douvis Alleged union fraudsters such as Kathy Jackson and the heads of some of Australia’s largest collapsed financiers could be key beneficiaries of reforms to bankruptcy laws proposed by the Turnbull government. The federal government on Monday launched reforms to make it easier to bounce back from a business failure, including changing the…
In 2011, Bill Clinton put mortgage arrears resolution front and centre of our economic recovery. He claimed there would be no widespread economic recovery until this issue had been dealt with properly. He was right then and remains so. Economic recovery will not be real, sustainable or widespread until the scourge of mortgage arrears is…
Most experts support the broad direction of the draft Insolvency and Bankruptcy Code, which was recently released by the finance ministry. However, there is a fair degree of apprehension about the implementation. A common question is how this Code will coexist with the existing insolvency laws such as the Securitisation and Reconstruction of Financial Assets…