If your business has been deemed insolvent via either the cash flow test or the balance sheet test, you’ll likely be thinking what the next step is for your business. You might well have heard about insolvency practitioners and their role in the next steps, but are not entirely sure what the need for them…
Bankers have chosen their words carefully since the financial crash, which probably explains the fuss in 2012 when John Reynolds gave a blunt assessment of plans to loosen up the rules on personal insolvency. At the time, bankruptcy tourism was endemic among overindebted members of the business and professional elites. After a brief sojourn in…
The number of people whose financial situation deteriorated so badly that they became insolvent is expected to have increased year on year in 2016 in official figures released on Friday. Restructuring firm RSM said it expected to see around 90,000 people having entered personal insolvency in England and Wales across 2016, which would be an…
One-time Williams farmer and disqualified Senator for WA Rod Culleton will learn his fate on various legal actions today. CONVERGING legal actions in different parts of Australia will further determine the political fate of disqualified WA Senator and anti-rural banking crusader Rod Culleton today. Mr Culleton was elected for One Nation at last years poll…
The company hired to run OLG Casino Sault Ste. Marie is refinancing its existing secured debt in part to help purchase its new stake in several gambling sites in Ontario. Gateway Casinos and Entertainment Ltd., said Friday the refinancing is made up of a new capital structure including $125 million Cdn senior secured revolving credit…
One-time Williams farmer and disqualified Senator for WA Rod Culleton will learn his fate on various legal actions today. CONVERGING legal actions in different parts of Australia will further determine the political fate of disqualified WA Senator and anti-rural banking crusader Rod Culleton today. Mr Culleton was elected for One Nation at last years poll…
Former One Nation senator Rod Culleton has lost his appeal over being declared bankrupt, capping off a bad day after the High Court earlier ruled he was ineligible to run for parliament in the first place. Mr Culleton was deemed bankrupt in December after he refused to comply with a 2013 WA District Court order…
2017-02-03T11:09+02:00 11:09 03.02.2017 Almost 80% of the cost of assets of banks under liquidation exist only in paper, according to reports of independent appraisers, the Individuals Deposit Guarantee Fund has reported. “Assets of 70 banks under liquidation, where the revision of the assets that can be sold is finished, were appraised by independent experts at…
Former One Nation senator Rod Culleton has lost his appeal over being declared bankrupt, capping off a bad day after the High Court earlier ruled he was ineligible to run for parliament in the first place. Mr Culleton was deemed bankrupt in December after he refused to comply with a 2013 WA District Court order…
BUNDABERG residents continue to struggle to pay off their debts as new figures reveal the number of locals falling into financial despair. The number of people who became insolvent between October and December last year dropped to 42, down from 44 in the September quarter. The Australian Financial Security Authority data shows the total number…