A grace period designed to save businesses from going under during the coronavirus pandemic is being extended until the end of the year. Temporary relief measures for businesses in financial distress were due to expire in less than 30 days. Treasurer Josh Frydenberg and Industrial Relations Minister Christian Porter confirmed the insolvency and bankruptcy protections…
The Australian Securities and Investments Commission is monitoring companies linked to the former director of a failed Coast-based training firm which pocketed almost $80 million in government funding before its collapse. The advice was given to Fairfax MP Ted O’Brien, who had sought further information from the regulator about its treatment of SmartCity Vocational College,…
The Australian Securities and Investments Commission is monitoring companies linked to the former director of a failed Coast-based training firm which pocketed almost $80 million in government funding before its collapse. The advice was given to Fairfax MP Ted O’Brien, who had sought further information from the regulator about its treatment of SmartCity Vocational College,…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 41 bankruptcies in week 35. This is 12 up on the previous week. In addition, 8 sole proprietorships were declared…
The case KVV Liepjas metalurgs owner Yevgenij Kazmin had against the state of Latvia has been put on hold, according to information from the State Chancellery. The case itself was commenced following Kazmins request. It is related to the sale of assets of the insolvent Liepjas metalurgs to Ukrainian company KVV Group in 2014. The…
Tennis legend Boris Becker is accused of hiding an international property portfolio from his bankruptcy proceedings, as well as millions of dollars and shares in an artificial intelligence company. The 52-year-old Grand Slam champion was declared bankrupt in June 2017 and last year faced civil claims that he had failed to fully declare his estate…
Mr Morrison told Parliament Labor “[sees] the COVID pandemic as some sort of opportunity to lock in endless income support, and that is not a responsible thing”. Loading “We must be sure that the supports we put in place to get Australians through don’t become a barrier to them, and don’t become a barrier to…
Charaka Society’s administrators say they have written to Karnataka Chief Minister BS Yediyurappa asking for Rs 97 lakh promised by successive state governments for various joint projects to be paid to them. The 25-year-old Charaka Society, which supports hundreds of handloom weavers in Heggodu village of Karnataka’s Shivamogga district, was declared insolvent on August 28,…
Thursday, 3 September 2020, 12:55 pmPress Release: Chartered Accountants Australia and New Zealand Key points: Some businesses that would have closed their doors under normal circumstances are hanging on thanks to COVID measures. These businesses should get financial advice immediately or risk a bigger crash when the support measures end A new insolvency regulatory regime…
When Archie Jafree heard that Lord & Taylor filed for Chapter 11 bankruptcy in early August, he was sad about the fate of the storied retailer with roots dating back to 1824. Still, the 36-year-old northern Virginia resident acknowledged he hadnt shopped there in months, preferring instead to go to Nordstrom and Zara, where he…