ANALYSIS: We might have Tony Abbotts legacy to thank for a government plan to allow states to levy their own income tax. On Friday, Prime Minister Malcolm Turnbull will have his biggest chance at the de-Abbottification of Australia. The PM is meeting state and territory leaders at COAG the Council of Australian Governments to talk about…
By Grant Latimer Published 29/03/2016 Gareth Latimer, Grant Thornton’s head of cyber security services Recent insolvency statistics for Northern Ireland have confirmed that there were 2.4% fewer corporate insolvencies in 2015 than in 2014, and that the rate of decline in the last quarter of 2015 was even higher, at 4.4%, from the same quarter…
First National has hundreds of branches across Australia and New Zealand. Photo: Eddie Jim One of Australia’s largest real estate networks is facing internal upheaval amid allegations of mismanagement, manipulation of books and possible conflicts of interest including deals with suppliers owned by or linked to its own board members. In recent months, a reform group…
By Associated Press Published: 04:58 EST, 29 March 2016 | Updated: 04:58 EST, 29 March 2016 SAN JUAN, Puerto Rico (AP) Retail giant Walmart won a legal victory on Monday in a fight over tax revenue with the government of Puerto Rico. A federal judge in the U.S. island territory found that a modified tangible-property…
Seafarers can collect money claims from insolvent firms March 28, 2016 10:02 pm by PERSIDA ACOSTA [embedded content] Tweet Persida Acosta Dear PAO,I am planning to file a case for non-payment of disability benefits…
Abengoa SA won support from creditors to allow more time to approve a 9.4 billion-euro ($10.5 billion) debt restructuring and avoid insolvency. More than 75 percent of the companys lenders agreed to continue talks for as much as seven months, Seville-based Abengoa said in a regulatory filing Monday. The support from creditors is higher than…
Percy Bysshe Shelleys famous sonnet Ozymandias, first published in 1818, tells the story of a traveller in the desolate Egyptian desert who comes upon a broken statue of King Rameses II, who the Greeks called Ozymandias. What remained of this pharaohs statue were two huge stone legs and, half sunk in the sand, a shattered…
Consumer Affairs Minister Jane Garrett has serious concerns about debt management firms. Photo: Josh Robenstone The Turnbull government is under growing pressure to crack down on “debt vultures” that fleece money from vulnerable people by falsely promising to provide solutions to their financial distress. Victoria has written to Canberra warning about the conduct of debt…
With wilful defaulters and the enormous stockpile of non-performing assets on the books of public sector banks making headlines every day, several commentators have made hopeful references to the impending new insolvency legislation. The finance minister recently stated that the Insolvency and Bankruptcy Bill is likely to be passed in the second half…