Until last summer, there were few concrete links between a slowdown in China’s property sector and a domestic shadow banking industry that has for years supplied middle-class savers with high-interest products. But that suddenly changed in July when longstanding wealth management group Zhongzhi ran into payment difficulties, making it the focal point of concerns about…
Former Wimbledon champion Boris Becker’s bankruptcy has officially ended, after a UK judge found he had done “all that he reasonably could do” to fulfil his financial obligations. The German tennis player was declared bankrupt in June 2017, owing creditors almost £50m. The High Court was told he still owed about £42m – but lawyers…
Insolvency practitioner John Vouris reflects on his 50 years in the industry and the recent boom in insolvency driven by the economy. Following events such as COVID-19, the Australian economy and small business industry are still trying to regain normal operations, with some SMEs still struggling to reverse the negative impacts. Hall Chadwick Partner and…
A new financial year looms. The government is reportedly in the mood for pre-election tax cuts; the opposition talks of iron fiscal discipline. And all around us, a familiar disaster grinds on: constant increases in demand on our most crucial public services, which the financially blitzed councils charged with providing them simply cannot meet. The…
The widow of underworld figure Carl Williams has been declared bankrupt by the Federal Court, after it was reportedly revealed there was almost $300,000 owing in unpaid taxes. The court on Tuesday ordered that the estate of Roberta Merieca Williams be sequestrated, following an application by the deputy commissioner of taxation. Carl Williams’ widow Roberta…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Alterna Capital Partners has joined the queue of lessors at India’s National Company Law Tribunal (NCLT) seeking to have SpiceJet (SG, Delhi International) declared insolvent. An Alterna special purpose vehicle (SPV) is attempting to enforce a March 2023 UK High Court judgement awarding it more than USD11 million. The matter of Alterna Aircraft V B…
There’s a growing sense Fisker is circling the drain, with the automaker’s Austrian division filing for bankruptcy protection overnight. In a statement Fisker said its Austrian arm has “voluntarily filed to open a restructuring proceeding via self-administration”. Business publications suggest this period of self-administration is similar to Chapter 11 bankruptcy protection in the US. The…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Dutch retail chain Handyman declares bankruptcy in The Hague The Brussels Times Read the original article here