Insolvency Guardian Media Centre
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The Australian government has unveiled its 2025-26 federal budget, focusing on cost-of-living relief, tax cuts, and support for households, students and businesses.
With a general election approaching, Australia’s treasurer Jim Chalmers introduced several measures aimed at easing financial pressure on Australians while addressing key economic challenges, including housing affordability and slowing economic growth, reported Bloomberg.
Tax cuts
One of the most significant highlights is the extension of tax cuts, which will reduce the tax rate for those earning between A$18,201 and A$45,000 to 14% by July 2027.
According to Bloomberg, these cuts…
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The education company wants the tribunal to instruct the Insolvency and Bankruptcy Board of India (IBBI) to examine the conduct of involved parties.
The petition lists several respondents: former interim resolution professional Pankaj Srivastava, current resolution professional Shailendra Ajmera, Glas Trust Company, the Ministry of Corporate Affairs, the IBBI, and the Registrar of Companies in Bengaluru.
, significantly backed by Manipal Health Systems and MEMG…
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Eamonn McManus: Unless things change…clubs will go bankrupt! Sky Sports
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The Tribunal found that GIDC’s show cause notice, which was utilized to end the lease, clearly breached section 14 of the Code
The National Company Law Appellate Tribunal (NCLAT) New Delhi has ruled that lease hold rights existing in favour of corporate debtor cannot be terminated during moratorium period under section 14 of the Insolvency Bankruptcy Code (IBC), 2016.
In response to an application filed under Section 7 of the Code, a decision was made to initiate the Corporate Insolvency Resolution Process (CIRP) against Corporate Debtor (CD). The CD was granted a 99-year lease on Plot No.301, where it operated, by the Gujarat Industrial Development Corporation (“GIDC”) under a License Agreement dated 22.04.2004 and a Lease…
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(Bloomberg) — US market turmoil triggered by tariffs and a slowing economic outlook is boosting the appeal of Chinese corporate debt that less than six months ago was considered uninvestable by some credit managers.
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“There’s been a lot more focus on China,” Winnie Cisar, global head of strategy at CreditSights, said on the Credit Edge podcast this week. “The US seems to be sneezing an awful lot lately and the rest of the world is saying: Well how do we mask up and try to defend ourselves against this?”
US high-yield credit markets led the world in performance in the month after Donald Trump’s November presidential election victory, which fueled high hopes of economic stimulus and…
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Genetic Technologies Executes Deed of Company Arrangement Amid Voluntary Administration MSN
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Australians earning the national average income will get a tax cut of more than $1,600 from 2026 onwards, according to the latest federal budget.
The new round of “modest” tax cuts form part of a slew of cost-of-living measures announced by the Treasury.
Treasurer Jim Chalmers said “families of middle Australia” would receive the most, with an average household receiving a combined benefit of “more than $15,000” over the next four years.
“We’re delivering energy bill relief to every household, even cheaper medicines, historic investments in Medicare, higher wages and a fairer go for consumers,”
he said.
Here’s what that may mean for you.
Extra tax cuts of more than $2,000 for average-income earners
The additional tax cuts…
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The Government has announced modest tax cuts for every Australian in a pre-Election Budget focused on assuaging voters with cost-of-living relief at a time of rising global uncertainty.
But Treasurer Jim Chalmers also handed down books that have entered the red with a $42.1b deficit and debt projected to exceed $1 trillion in the 2025-26 financial year.
On the eve of the Federal Election, the Government will be counting on voters overlooking forecasts of a decade of deficits by adding $17b in tax cuts to already announced sweeteners that include $1.8b in energy bill relief, a beefy 8.5b fund to expand Medicare bulk-billing and more affordable housing.
The plan, against a backdrop of global turmoil from ongoing conflict in the Middle East…
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Maciej Rozanski, who was 42, had been working to remove a redundant steel cleaning machine from the company’s Sovereign Works site on Deepdale Lane, Dudley, on 29th June 2018. However, during the work, Rozanski stepped onto a fragile roof and fell more than 20 feet to the floor below. He suffered serious injuries and was pronounced dead at the scene.
Surface Technik (Old Hill) Limited, which is now in liquidation, was found guilty following a trial last week. Operations manager Robert Hammond had already entered a guilty plea, but disputed he was responsible for health and safety at the site.
The prosecution was brought following an…
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Television personality and former SAS: Who Dares Wins instructor Ant Middleton and his wife have been banned as a company director. His company, Sway and Starting Limited, failed to pay more than £1 million in taxes. His wife, Emilie Middleton, has also been disqualified as a director for four years.
The couple’s disqualification follows an investigation by the Insolvency Service. Authorities found that the company failed to pay over £800,000 in corporation tax and more than £300,000 in VAT. The company entered liquidation in December 2022.
Figure 1: Ant Middleton and his wife banned after failing to pay over £1 Million in Taxes
Company Owed Over £1 Million in Unpaid Taxes
Sway and Starting…
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A Total Of 5,272 Youths Declared Bankrupt Since 2020 BERNAMA