The collapse of Dick Smith has shown Australia has no real way to deal with ailing companies. Edwina Pickles When Dick Smith administrators release a much-anticipated report into the reasons for its collapse, talk will turn to whether a different insolvency regime and different decisions might have prevented its rapid and controversial demise. In this…
‘Innovation’ has been the buzzword of the Turnbull Government in Australia and there is no doubt it, along with entrepreneurship, is central to economic growth, job creation and future prosperity. As the limited liability company was created to encourage and facilitate innovation and entrepreneurship and to reduce the costs of enterprise failure, it is not…
Standard & Poor’s said the UK would be downgraded to double-A from triple-A. Tomohiro Ohsumi Global financial markets experienced their worst day since the global financial crisis as Britain voted to leave the European Union, sending the British pound to the lowest level since 1985 and threatening a global recession. Every Group of 10 currency fell…
Dear Jeanne & Leonard: Ten years ago my brother “Jack” and I each lent our brother “Don” $5,000 so he could wipe out his gambling debts. Don promised to pay us back, but he never really did. Over the years, he paid me a total of $2,500 and Jack $500. The reason I received more…
Qimiao Fan Nationality: Chinese Profession: World Bank Country Director for Ukraine, Moldova and Belarus until June 30; current director for Bangladesh, Bhutan and Nepal. Education: B.A. and Ph.D. in economics. How to succeed in Ukraine: You have to put your heart and soul into it. You have to really care about the country and the…
There is financial panic in Banjul. Everyone is worried by the nations uncertain economic and political future. Almost all government accounts are in the red. Developmental projects are also at standstill. This is largely due to lack of budget. The Jammeh regime is struggling with acute cash shortages. It is only God knows when the…
Phillip Chiyangwa Philip Chiyangwa NAFAZ presidentI CONTEND that Section 3 of the Insolvency Act is applicable to the Applicant and that the application is properly before the (High) Court. It must be noted right from the onset that the situation Applicant is grappling with is one of insolvency. It is one relating to the soundness…
Romanias largest state-owned electricity producer Hidroelectrica exited insolvency after four years, the Bucharest Court decided yesterday. The court postponed twice the decision on Hidroelectricas insolvency exit due to legal actions by the companys former clients. The producer entered insolvency in June 2012 due to a weakening financial situation caused by the unfavorable contracts with various…
Hillary Clinton mocked Donald Trumps business failings in a major speech arguing that the presumptive Republican nominee would be disastrous for the economy. “Hes written a lot of books about business. They all seem to end at Chapter 11,” Clinton quipped, adding. “He bankrupted his companies not once, not twice, but four times.” We rated…
State-owned electricity producer Hidroelectrica exited insolvency on Tuesday for the second time. The decision was taken by the judges at the Bucharest Court. During the four years of insolvency, Hidroelectrica has been through a radical process of restructure and efficiency. Following this process, Hidroelectrica became the most profitable company from Romania, in the last years…