Temporary debt protections put in place in March will be wound back on 1 January, but a permanent increase in the bankruptcy threshold will apply. Before the pandemic, the minimum threshold to trigger a bankruptcy was $5,000: It was raised to $20,000 in March, and will be wound back to a new threshold of $10,000…
“I talked to Treasury or Frydenberg’s office a few times and I strongly encouraged them to remove the trading while insolvent laws. “I know that there are a number of directors of quite large companies in Australia that would have put their companies into administration because of those rules and only because of those rules.”…
PENNSYLVANIA To say that 2020 was a brutal year for brick-and-mortar retailers and restaurants across America is an enormous understatement. Owing to the worst domestic public health crisis in a century, corporate bankruptcies in those industries increased significantly from 17 in 2019 to 30 this year. When the coronavirus outbreak began out in March, stores…
The former director of a major building firm which collapsed with debts of about $31 million has avoided bankruptcy with creditors to receive between 0.4 and seven cents in the dollar. Former RGD Group Pty Ltd and RGD Constructions Pty Ltd director Ron Grabbe entered into a Personal Insolvency Agreement with creditors of his estate…
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 31 bankruptcies in week 51, 3 fewer than in week 50. In addition, 16 sole proprietorships were declared bankrupt, 8…
Business The latest annual personal insolvency statistics for 2019, released by the Insolvency Service, show that even before the financial effects of Covid-19 hit peoples incomes, Yorkshire once again saw above average rates, and Scarborough recorded the highest level of personal insolvencies of any local authority in England and Wales. Thursday, 24th December 2020, 11:45…
Wednesday, December 23, 2020 For many, 2020 has been the year to forget. The Coronavirus pandemic (COVID-19) has halted global economies and initiated recessions across continents and countries, including Australia. In an attempt to alleviate the financial impact of COVID-19, the Australian Government has implemented various reforms (both temporary and permanent) designed to provide relief…
Sydney businessman Abdul Helou claimed to be on the cusp of buying the Mariners. Credit:LinkedIN Sources close to the situation indicate that while Helou has claimed to have paid the Mariners a deposit, the money was not received by the club, , an allegation denied by Helou. The Mariners have since ordered Helou to stop…
The former director of a major building firm which collapsed with debts of about $31 million has avoided bankruptcy with creditors to receive between 0.4 and seven cents in the dollar. Former RGD Group Pty Ltd and RGD Constructions Pty Ltd director Ron Grabbe entered into a Personal Insolvency Agreement with creditors of his estate…
Law360, London (December 22, 2020, 2:12 PM GMT) — The Pensions Regulator said workplace savings plans for failed high street giant Arcadia Group will soon be assessed by theU.K.’s lifeboat schemeto determine if they need support. The watchdog said Monday the Pension Protection Fund would begin the assessment as soon as it had carried out…