Is it fair that someone who has been declared bankrupt is able to go to the pub or the gym, buy gifts and enjoy meals out – or should they only be left with enough money to pay their household bills and meet other necessary expenses? The answer probably depends where you sit on the…
Listen to this article Estimated 2 minutes The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. Dartmouth furniture manufacturer Scanwood Canada Ltd. — a supplier of cabinets to Swedish retailer Ikea — was formally declared insolvent Wednesday…
Australia’s largest agricultural funds manager, Great Southern Limited, has been declared insolvent. The collapsed agribusiness into voluntary administration in May with $700 million of debt. In a letter to investors this week, receivers McGrathNicol said there was no money left to meet the company’s day-to-day operating costs or make lease payments to landowners. McGrathNicol said…
Experts say company boards may place their businesses into voluntary administration earlier than expected, after ASIC declared it will ramp up investigations of businesses that are at risk of trading while insolvent. Experts say company boards may place their businesses into voluntary administration earlier than expected, after ASIC declared it will ramp up investigations of…
The bankrupt sister of supermodel Elle Macpherson has only $8 in the bank and owes more than $300,000, documents show. Mimi Macpherson, 41, declared herself bankrupt this week, just days before she was due to appear in court for a bankruptcy hearing. Melbourne architecture company Omiros One was seeking to have Macpherson declared bankrupt for…
New York City didn’t actually declare bankruptcy in the 1970s, but it came close. When the city appealed to Washington in 1975 for a bailout, President Ford balked, prompting this famous New York Daily News headline. New York Daily News hide caption toggle caption New York Daily News Moments in Municipal Bankruptcy … Read the…
Alan Bond Is Declared Bankrupt in Australia (Published 1992) The New York Times Read the original article here
Two banks were declared insolvent and closed by regulators Friday, bringing the number of failures nationwide to seven in the last two days and 75 in 1986. State regulators closed Permian Bank of Odessa, Texas, saying the bank had been driven into insolvency by large loans to energy-related industries. In Trimble, Tenn., The Farmers Bank…
OKLAHOMA BANK DECLARED INSOLVENT (Published 1986) The New York Times Read the original article here