Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory shield) that expires…
New rules will allow insolvent small businesses to keep trading rather than go straight into administration. Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of…
Thousands of employers could see substantial rises in levies paid to the Pension Protection Fund as Covid-19 prompts a wave of business failures, the UK industry lifeboat scheme has warned. Roughly 5,500 corporate pension schemes pay annual levies to the PPF, which pays compensation to members of defined benefit plans where the sponsoring employer has…
Treasurer Josh Frydenberg. Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory…
Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show. The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remingtons brand and trademarks along with parts of its ammo and accessories business including…
Q: It feels like Ive been in debt forever. Even while I was married and we both earned enough to pay our bills, it seemed like no matter how much we paid, debt was the silent partner in our marriage. Now that Im on my own again and have been surviving on pandemic pay since…
Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory shield) that expires…
Failure to make provision for your debt in your estate plan can leave your loved ones financially compromised. Making provision for the debt in your estate is an important part of estate planning, and failure to do so can leave your surviving spouse and/or heirs financially compromised. Assets that you had intended to bequeath to…
Monday, 28 September 2020, 1:12 pmPress Release: Minter Ellison Rudd Watts The Supreme Court last Thursday released its long awaited decision on directors duties engaged on a companys insolvency Debut Homes Limited (in liquidation) v Cooper [2020] NZSC 100. The decision has profound implications for directors confronted with a business experiencing material financial distress and…
It quickly became obvious, as countries began to enter into lockdown and many companies were forced to suspend their operations, that a tsunami of insolvencies was likely to follow in those jurisdictions which had been hardest hit by Covid-19, particularly in the event of a second wave of the disease. Some businesses saw their cashflows…