The Ministry of Finance and Economic Affairs has published Medium-Term Debt Management Strategy for the period 2025-2029. The MTDMS is presented on the basis of the fiscal plan, in accordance with Article 38 of the Act on Public Finances, no. 123/2015, and is to be presented annually. The Medium-Term Debt Management Strategy is presented over a horizon of five years and is based on the previous strategy, issued in December 2023.

The Medium-Term Debt Management Strategy…

WASHINGTON (TNND) — As the holiday season wraps up, many Americans have a credit card hangover from holiday spending. According to a survey by LendingTree, 36% of Americans took on holiday debt this year, with an average amount of $1,181.

“Inflation is still a big deal in this country, and it’s having a huge impact on people’s finances, including their holiday spending,” explained Matt Schulz, LendingTree’s chief credit analyst. “If you were to only buy the same things you bought last Christmas, you’d likely have to spend more this year thanks to inflation. For many Americans, that means you either have to cut back on gifts or take on more debt. While people make lots of sacrifices to deal with higher prices, many may not…

A vertical garden
Photo: 123rf

The parent company of an organisation that received $3.5 million in public funding is being put into voluntary administration.

Greenleaf Fresh has appointed administrators, citing recent financial challenges.

The company was behind Greengrower, a vertical farm in Hamilton that received millions in public funding last year for research.

The grant from Ministry of Primary Industries (MPI) under the Sustainable Food and Fibres Futures programme was to focus on research and development for new crops.

MPI has been approached for comment.

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Vertical farming business Greenleaf Fresh, which traded under the name Greengrower, has gone into voluntary administration.

Adele Hicks and David Ruscoe, of Grant Thorton, were appointed administrators by resolution of the company’s directors on December 31.

A statement from Grant Thornton said the decision followed “recent financial challenges impacting the company’s operations”.

“The administration process aims to protect the interests of employees and creditors while working towards a future for the business. Updates will be provided as necessary throughout this period.”

Greenleaf Fresh’s directors are Malcolm Boyd, Matthew…

One of Singapore’s most well-known oil magnates, former tycoon Lim Oon Kuin, the founder of Hin Leong Trading Pte., has fallen from grace drastically after being formally declared bankrupt. His children, Lim Huey Ching and Lim Chee Meng, who were directors of the now-defunct corporation, are also impacted by the December 19, 2024, bankruptcy order. This comes after Hin Leong Trading, a significant participant in the oil trading market, went bankrupt.

The Collapse of an Oil Empire:

Hin Leong Trading was founded as a major player in Singapore’s oil industry, trading a range of oil products, producing lubricants, and running storage facilities. However, the COVID-19 pandemic in 2020 caused a sharp decline in the company’s…

Flying taxi start-up Volocopter said on Monday it was filing for insolvency, days after another fellow German company in the field, Lilium, was saved from collapse.

“Despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible,” Volocopter said in a statement, adding that the filing was made on December 26.

The company, founded in 2011, is now on the hunt for investors, and court-appointed administrator Tobias Wahl said the aim was “to develop a restructuring…

Construction insolvencies are on the rise. ASIC data on external administration and controller appointments in this sector have risen between 2022 and 2024, both first-time appointments, and “all appointments” (including subsequent and transitional appointments, for example, where a company is placed into liquidation following administration or provisional liquidation).

Chart 1: The first time a company enters external administration or has a controller appointed–Industry type, FINANCIAL YEAR TO DAT

NSW is increasingly responsible for the lion’s share of these appointments (taking 40% of all appointments in 2022, 44% in 2023, and 48.4% this year).

Under a relatively new legislative remit of the NSW Building Commissioner,…