Breaking CBC News Posted: Feb 04, 2016 12:59 PM ET Last Updated: Feb 04, 2016 12:59 PM ET Leather-wear chain Danier, which has begun insolvency proceedings, has 90 stores across Canada. (Aaron Vincent Elkaim/Canadian Press) Canadian retailer Danier Leather has begun insolvency proceedings that could lead to a sale of all or part of the…
Months before the digital currency exchange Cryptsy declared its insolvency and claimed it was the target of a debilitating hack and theft, CEO Paul Vernon’s estranged wife claimed in a court filing that she was afraid her husband would flee the country with funds taken from businesses he owns, including Cryptsy. Court documents obtained by…
Some political myths are more believable than others. Some of them contain grains of truth, or perverse elements of pseudo-logic that seem to make sense when considered in isolation. Other political myths are pure unadulterated rubbish, that nobody should be falling for them. Claims that the UK has been “bankrupted” are amongst this class of…
Published 04/02/2016 | 02:30 (Stock image) International ratings agency Moody’s has controversially suggested large numbers of mortgage holders have stopped making repayments in a bid to get debts written off. Share Go To Banks have in the past suggested that a large number of those in arrears are so-called strategic defaulters – those who make…
National Greyhound Form PTY LTD has been placed into administration with many people in the industry left out of pocket after the abrupt disappearance of Hotdogs.com.au and print publication National Greyhound Form. Paid-up subscribers have flooded social media sites and greyhound forums with complaints after the popular website was taken offline at the end of…
Published 04/02/2016 | 02:30 (Stock image) International ratings agency Moody’s has controversially suggested large numbers of mortgage holders have stopped making repayments in a bid to get debts written off. Share Go To Banks have in the past suggested that a large number of those in arrears are so-called strategic defaulters – those who make…
Matt Barrie, CEO of Freelancer.com, has taken a massive swing at the New South Wales government and Sydneys lockout laws, arguing they have destroyed the soul of the nations biggest city. In a colossal 8,400 word post on LinkedIn which is now going viral Barrie slams the government for its Orwellian nomenclature which replaced a…
A Donegal county councillor has told a court he is facing bankruptcy as a result of failed business dealings and does not have money to pay compensation to a woman he drove over 16 years ago. Independent Cllr John ODonnell was at the centre of controversy last December when he featured on an RTÉ Investigates…
With more than half of American consumers classified as having subprime credit scores,1 it is no surprise that subprime lending is once again on the rise. Making expensive loans to the underemployed and overextended may help fuel economic growth2; however, it is neither just nor sustainable. Dependence on higher-risk subprime loans to boost spending seems…
In Better Bankers, Better Banks: Promoting Good Business through Contractual Commitment, Claire A. Hill and Richard W. Painter provide an account of the changes to banking that encouraged the risk-taking that became a factor in the global financial crisis, and propose a solution: covenant banking. The authors suggestion of binding bankers to contracts that encourage accountability…