Welcome to Victoria: the insolvency state

The state of Victoria’s financial woes is well documented. In 2023-24, the state had the nation’s largest per capita net debt and the lowest credit rating (AA). Per capita state debt was only $3,600 in Labor’s first budget in 2015. It has since climbed to $21,900 and is projected over the budget forward estimates to…

Reliance Power issues clarification: ED raids against Anil Ambani group companies; here’s what the company said

The ED raids pertain to an alleged bank loan fraud worth Rs 3,000 crore against Reliance Group chairman Anil Ambani’s companies. The Enforcement Directorate on Thursday conducted simultaneous raids in connection with an alleged money laundering case involving bank loan fraud worth Rs 3,000 crore against Reliance Group chairman Anil Ambani‘s companies, according to a…

Fintech kevin declared insolvent by Vilnius court

  According to Sifted, an assistant to the chairman of the Vilnius District Court stated that, after assessing the data, the court found the defendant to be insolvent and unable to meet its financial obligations on time. As a result, the court has initiated bankruptcy proceedings and appointed IS Group as the insolvency administrator. Shortly…