How being married in community of property impacts your debts as a couple – BusinessTech

Understanding how your marriage contract will impact the management of your familys finances is essential to a happy marriage and a secure financial future, notes Cyber Finance, a debt management company. If you get married without drawing up an ante-nuptial contract, you will automatically be regarded as being married in community of property because this…

$13m owed: Ferrari-driving businessman declares bankruptcy – Chronicle

A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…

$13m owed: Ferrari-driving businessman declares bankruptcy – Warwick Daily News

A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…

China’s Weilin owes $58m, but cotton farmers, brokers offered $5.5m – The Australian Dairyfarmer

Unsecured creditors from across the cotton industry are being warned to expect to be repaid maybe just a fifth of their losses following the collapse of Chinese-owned merchant Weilin Trade owing about $58 million. Latest estimates suggest about 195 cotton growers, brokers, merchants and other service providers have lost money after Weilin bought cotton for…