Expert warns of potential insolvency ‘tsunami’ for Sydney and Melbourne – Savings.com.au

Insolvency numbers are on the rise in Sydney and Melbourne, and one expert has pointed to the potential ‘tsunami’ in the next six months. The Australian Financial Security Authority (AFSA) has released its regional insolvency statistics for the June quarter, which revealed slight increases in insolvency numbers across Sydney and Melbourne. Personal insolvencies increased by…

Women Cancer Victims Opposed to Johnson & Johnson’s ‘Texas Two-Step’ Bankruptcy Ploy Urge Passage of Reforms Introduced by Warren, Durbin, Nadler, Blumenthal, and Maloney – Yahoo Finance

WASHINGTON, July 29, 2021 /PRNewswire/ — More than 30,000 women cancer victims would retain their constitutional right to have juries decide if talc in Johnson & Johnson’s (NYSE:JNJ) baby products caused their ovarian cancer under bankruptcy reforms proposed Wednesday by key lawmakers in the U.S. Senate and House of Representatives. The Nondebtor Release Prohibition Act…

Ombud advocates for return of temporary insolvency protections – The Mandarin

Australias Small Business and Family Enterprise Ombud is calling on the federal government to reactivate temporary insolvency protections that will help cushion small and family businesses during public health ordered lockdowns. The number of businesses going into administration increased by 75% in the last week of June 2021, according to new data released by CreditorWatch.…

UK High Court declares Vijay Mallya bankrupt: What the ruling means for the businessman on the run – Times Now

Vijay Mallya fled to the UK in March 2016. | &nbspPhoto Credit:&nbspPTI Key Highlights A bankruptcy trustee will oversee an investigation to determine the former liquor baron’s assets and liabilities, which will then be used to fulfil Mallya’s debt obligations Mallya has argued that the collapse of the airline was business-related, however, investigators have since…

Businesswoman gets court deal to wipe out debts of over 14m, will be able to save 950k Malahide home – Independent.ie

A businesswoman who became insolvent following the collapse of the construction sector in the mid-2000s has had the vast majority of her 14.3m debt written off under a personal insolvency arrangement (PIA). haron OReilly (52) owed 11.6m to Nama on foot of personal guarantees and owed 2.7m in mortgage debt to Pepper Finance. However, under…

Temporary insolvency protections sensible as lockdowns continue – Mirage News

The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has urged the Federal Government and regulators to consider the reactivation of temporary insolvency protections, to support small and family businesses doing it tough in lockdown. Mr Billson says the re-introduction of measures, such as the extension to existing safe harbour provisions, would provide temporary…