The Queensland government has made a final bid to save the Mount Isa Rodeo — the largest event of its kind in the southern hemisphere — after it entered voluntary administration in October. 

In November, a final report by administrators SV Partners found at least 83 creditors were owed $1.9 million with a shortfall of about $1 million.

The government has confirmed it will bolster the Mount Isa Transition Fund, an initiative worth $20 million, designed to strengthen the economy ahead of the closure of a major industry next year.

Deputy Premier Jarrod Bleijie said an extra $2 million will be tipped into the pot for Mount Isa City Council to allocate to the event.

“[We’re] proud to support the Mount Isa Rodeo, as it attracts 25,000…

Historic Australian beverages brand Billson’s has been thrown a lifeline by the Coca-Cola Company after going into voluntary administration earlier this year.

The multinational soft drink manufacturers are currently in the process of purchasing the company, based out of Beechworth in Victoria, according to owners Nathan and Felicity Cowan.

The pair said they had been working closely with Coca-Cola over the last few months and that they were “delighted” that Billson’s popular drinks range would live on.

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“It’s truly an honour that the world’s most iconic beverage company sees a bright future for Billson’s,” the couple said on Friday.

“We believe wholeheartedly that the brand…

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The Biden administration announced Friday about 55,000 student loan borrowers will have their debts forgiven, totaling nearly $4.3 billion in relief, marking the latest wave of student loan forgiveness under a program intended to benefit public service workers.

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Future Retail, once the crown jewel of Kishore Biyani-led Future Group, is now heading for liquidation as its lenders could not get any reasonable buyer of the debt-ridden firm. As the Committee of Creditors (CoC) rejected the sole resolution plan submitted by Space Mantra after four extensions in the deadline to complete the corporate insolvency resolution process (CIRP), the RP of the company has now approached NCLT to initiate liquidation of Future Retail (FRL).

“The resolution plan submitted by Space Mantra Private has not been approved by CoC of FRL, kindly note that, the Resolution Professional (RP) has filed an application, before the…

By Reshmi Basu | Bloomberg

Big Lots does not expect to complete a planned sale of its business to private equity firm Nexus Capital Management LP, putting the discount retailer that employs more than 27,000 people at risk of liquidation.

The company said it continues to work toward completing an alternative transaction with Nexus or another party, and aims to complete that by early January, it said in a release.

A valuation appraisal of the bankrupt company’s inventory came in lower than expected, which threatened the economics of the sale of the chain to Nexus, Bloomberg reported earlier on Thursday. At the same time, landlords had demanded that Big Lots explain why it hadn’t closed the deal with Nexus, which agreed to buy the company…

In a statement, regional insolvency and business recovery specialists McTear Williams & Wood said IBTC Limited – the company trading as International Boatbuilding Training College – would “close its doors with effect from 20 December and a meeting of members has been called for that day to place the company into liquidation”.

A spokesperson for McTear Williams & Wood said it was being appointed as joint liquidator.

“The current student cohort will leave having been given the opportunity to complete a minimum of the joinery module City & Guilds qualification,” they said.

“The directors Lyn and Mike Tupper have been running the company for the last nine years having acquired it for £1 from prior owners and have invested heavily in the…

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Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

This can be done through the following steps:

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3. Turn on the option “Links Open Externally” (This will use…

WASHINGTON — President Joe Biden’s administration announced on Friday another $4.28 billion dollars in student loan relief for nearly 55,000 public service workers.

The announcement brings the total loan forgiveness by the Biden administration to “approximately $180 billion for nearly 5 million Americans,” according to a fact sheet from the Department of Education.

The forgiveness will be delivered to individuals enrolled in the Public Service Loan Forgiveness program (PSLF), which allows for debt forgiveness for people in jobs like firefighting, nursing and teaching after 10 years of continuous payment.

The Biden administration has made fixes to this program that had failed to deliver student loan relief to many due to poor…