SIXTY residents and business across the Mackay region went bankrupt between September and December 2017. The Australian Financial Security Authority (AFSA) yesterday released quarterly regional personal insolvency statistics and analysis for Queensland regions in the December quarter 2017. The data revealed 53 Mackay residents declared non-business related insolvencies down from 60 in the September quarter.…
TWO Sunshine Coast areas have experienced significant spikes in business bankruptcies, with one recording a 266 per cent increase. Maroochy and Sunshine Coast Hinterland businesses were hardest hit by financial strife during the December 2017 quarter, according to the Australian Financial Security Authority’s regional personal insolvency statistics. Financial insolvencies increased by eight to 14 in…
Pump jacks are ubiquitous in Alberta and have become just as emblematic of the oil and natural gas-focused province as the fields of wheat or canola they sit in. But this week, the Supreme Court will tackle a case at the heart of the question of who pays to clean up wells that are no…
Published Feb. 13 at 5:08 pm A man checks his phone as he waits for the train at Zoloti Vorota metro station in Kyiv on May 3. Photo by Kostyantyn Chernichkin Popular on social media Kyiv City State Administration on Feb. 13 terminated a deal with Mosquito Mobile to set up a Wi-Fi network in…
After six months long painstaking insolvency proceedings and due diligences, the Rs 43,000 crore debtor Essar Steel has received just two bids— from ArcelorMittal and Numetal Mauritius— on Monday. Though ArcelorMittal did due diligence for Bhushan and Essar, it reserved its final bid for the latter, pushing the industry to guess that it’s a sizable…
An East Kilbride man has admitted a £35,000 tax fraud. William Doonan, 61, pleaded guilty to an amended charge of defrauding HM Revenue & Customs at Hamilton Sheriff Court on Friday. Fiscal depute Callum Forsyth told the court Doonan was caught when an HMRC inspector carried out a VAT inspection at Veitchi Flooring Limited in…
A study by a Toronto-based firm says the rate of insolvent borrowers using payday loans in Ontario has grown for the sixth consecutive year. Insolvency trustee firm Hoyes Michalos & Associates says 31 per cent of insolvent borrowers used the loans in 2017, up from 27 per cent the year before. The study suggests payday…
Victims who had their money stolen by former Rare Coin Company managing director Robert Jackman have been given no hope of their money being returned, despite restitution being ordered by Albany District Court last week. Mr Jackman, 63, was sentenced to four years and two months jail last week and ordered to pay reparation of…
Payday loans were a growing factor in personal insolvencies in Ontario for the sixth consecutive year in 2017, despite recent provincial regulatory changes to curb borrowing rates and improve disclosures by lenders. A review of 3,500 insolvency cases by insolvency trustee firm Hoyes Michalos found 31 per cent of people who made insolvency filings in…
Family law issues Wife not permitted to advance equalization of property claim after having declared bankruptcy Parties entered into minutes of settlement that provided husband would assume ownership of matrimonial home as well as related debts and expenses, and pay wife $40,000 in exchange for release of her property division and spousal support claims. Following…