BUSINESSES were hardest hit by financial collapse on the Sunshine Coast over the past four months with a sharp rise in business-related bankruptcies. Forty-four businesses on the Coast went bankrupt during the September quarter, up from 32 over the previous period. The Australian Financial Security Authority’s regional personal insolvency statistics show there were 35 bankruptcies…
A SNAPSHOT of the Rockhampton region’s latest insolvency rates paints a bleak picture for residents and small business traders. In the three months to the end of September, 79 individuals have either declared or are facing bankruptcy as a result of not being able to meet their debt requirements. This is the same number as…
Significant reforms to corporate and personal insolvency laws have divided opinion on safe harbour in Australia. By Shabnam Amirbeaggi FCPA Insolvent trading safe harbour reforms received royal assent on 19 September 2017. These amendments to the Corporations Act provide protection to company directors from liability for insolvent trading. The amendments apply to courses of…
PERTH’S tough hospitality sector has claimed another high-profile victim, with administrators being put into celebrated chef Scott Taylors Trustee bar and restaurant in Brookfield Place on St Georges Terrace in the CBD. Administrators from Cor Cordis were appointed on Monday to the company behind the Trustee and the Beaufort Street Merchant in Mt Lawley. The…
STOCK IMAGE Insolvency ruling that couple can stay in home gives hope to hundreds of families Independent.ie A couple and their two young children can remain in the family home, after a judge dismissed a fund’s objection to their proposed personal insolvency arrangements (PIAs). https://www.independent.ie/irish-news/courts/insolvency-ruling-that-couple-can-stay-in-home-gives-hope-to-hundreds-of-families-36282665.html https://www.independent.ie/incoming/article36174649.ece/8a87c/AUTOCROP/h342/Court%20generic%20new.jpg Email A couple and their two young children can…
MORE than 90,000 Malaysians have been declared bankrupt since 2013 with almost 97% of them failing to repay installments to financial institutions. From 2013 until August this year, the Insolvency Department recorded a total of 94,408 people who were declared bankrupt, The Star Online reported. “About 91,180 were declared bankrupt as they failed to repay…
by Ann O’Loughlin A couple and their two young children can remain in their family home after a High Court judge dismissed a funds objection to their proposed personal insolvency arrangements. In a significant judgment rejecting the fund’s claims of unfair prejudice by the arrangements, Ms Justice Marie Baker said the test for unfair prejudice…
Written by Aanchal Magazine | New Delhi | Updated: November 1, 2017 6:43 am The World Bank report said the improvement in ranking for India has come on the back of sustained business reforms over the last four years. (Representational) Related News Boosted by substantive jumps in the areas of protecting minority investors through tightening…
Eastern Guruma country, in the Pilbara; Photo: Glen Camille. Pilbara-based Eastern Guruma contracting company, which has multi-million dollar projects with some of the biggest names in mining, is expected to face a significant restructure after being placed in voluntary administration with unspecified debts. A team of administrators was this week poring over the books of…
LAST QUARTER | 38 declare bankruptcy, enter debt in rough quarter IN A sad revelation for how much people are struggling in the Gladstone region, there were 59 bankruptcies in the region over the past four months. The startling numbers come from the Australian Financial Security Authority’s regional personal insolvency statistics report for the September…