Small business thrown a lifeline under new insolvency rules

The proposed changes will allow businesses to keep trading while they develop a debt restructuring plan. Photo: Supplied. Federal Treasurer Josh Frydenberg has announced plans to overhaul insolvency rules in an effort to help small businesses that are struggling because of the coronavirus pandemic. The changes will apply to businesses with liabilities of less than…

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Russian Ex-Presidential Hopeful Nadezhdin Declares Bankruptcy

A Russian court declared former presidential hopeful Boris Nadezhdin bankrupt over past campaign debt, the Kommersant business newspaper reported Thursday. Nadezhdin, 61, sought to challenge President Vladimir Putin in the March 2024 presidential race on an anti-war platform but was barred from running. Though unsuccessful, his short-lived campaign drew support from Russians opposed to the…