With major firms having a footprint all over the world, there is a need for a common court framework that makes tackling cross- border insolvency matters more efficient and less expensive. The first step was taken yesterday, with the Singapore Supreme Court and US Bankruptcy Court for the District of Delaware adopting guidelines for cost-cutting…
Marcs, David Lawrence in voluntary administration High-profile Australian fashion labels Marcs and David Lawrence have collapsed under debts of close to $30 million, including close to $3 million in worker entitlements and a $700,000 debt to the tax office. The appointment of voluntary administrators to two of the country’s best-known fashion brands leaves close to 1200 workers facing the the loss…
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…
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…
With the end of the mining boom in Western Australia, house prices and rentals have been falling but the poorest people in the state are yet to see any benefit. The signs of economic slowdown are everywhere. Unemployment in Western Australia stands at 6.9 per cent, the highest level since 2002. Last quarter, personal…
Official statistics released today (January 27) by The Insolvency Service, which administers the insolvency regime in England and Wales, show that total personal insolvencies reached a total of 90,930 last year. This was a 13 percent rise on 2015. This total comprised 49,745 IVAs, which were up 23 percent year-on-year and returned to the levels…
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…
(aa/dpa/pc) The two Butlers stores in Luxembourg City and Esch/Alzette will not be affected by the application for insolvency of the parent company in Germany because they are operated as franchises, according to a spokesman for the provisional insolvency administrator Jörg Bornheimer in Cologne. Both shops in the Grand Duchy remain open as usual and…
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…
THE number of Gladstone residents struggling with financial ruin has been released, suggesting the pain isn’t over for many families. New figures show 47 Gladstone people found themselves in financial ruin from October – December 2016. The figures, released by Australian Financial Security Authority, reveal the how many new insolences and bankruptcies were made in…