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Acsa has lashed out at claims that the company is facing imminent liquidation. On December 9, The Star reported that multiple service providers had applied for Acsa’s liquidation because it had failed to pay for services rendered amounting to R550 million.
However, in a statement, Acsa said liquidation proceedings had been instituted against it by just one service provider for unverified claims of R126 million, which is currently subject to an arbitration process scheduled for March 17, 2025.
“The service provider has chosen instead on November 27 to submit an application for liquidation, abandoning the arbitration process prescribed through the service level agreement as a last resort for contracting parties to resolve disputes….
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In late October, Lilium N.V., a leading electric aircraft manufacturer and pioneer in regional air mobility, announced that its principal German subsidiaries were to apply for self-administration proceedings with the competent court in Germany. This filing follows a lengthy and complex government approval process for a loan from the German state-owned investment and development bank KfW, which failed in the Budget Committee of the German parliament.
In a statement announcing the filing, Lilium noted that its international competition had received grants and loans in the US, France, China, Brazil and the UK, and thus the company’s investors believed that German government support was critical to retaining market confidence and…
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According to the Federal Reserve, just over 77% of Americans have some kind of debt. This can be credit cards, student loans,…
According to the Federal Reserve, just over 77% of Americans have some kind of debt. This can be credit cards, student loans, mortgages or any other kind of money owed. While you might have more — or less — debt than the next person, owing money can still be stressful, especially as you head toward the new year.
The good news is that there are ways to manage or even eliminate your debt. Well-known financial guru Dave Ramsey is known for educating people about finances and debt. Here’s some of his best debt advice to help you start 2025 right.
Research from Alares suggests the spike in business insolvencies is being driven primarily by tax debt.
Outstanding debts owed to the Tax Office are pushing a growing number of Australian businesses into voluntary administration in hopes of preventing a collapse.
Tax debt is the primary driver behind the growing number of business recovery activities engaged in by businesses of all sizes, according to Jirsch Sutherland.
Last month, ATO tax commissioner Rob Heferen said taxpayers owed over $50 billion in collectable debt, nearly two-thirds of which was owed by small businesses. In June 2019, tax debt owed to the ATO was $26.5 billion, representing a near 100 per cent…
Nearly 500 employees will lose their jobs next month as Australian retailer Mosaic Brands shuts down all of its Katies stores, along with 80 other shops across multiple brands owned by the company.
All 80 of the Katies stores will close in mid-January as well as another 80 stores across the Millers, Rivers and Noni B brands.
The closures will impact 160 stores owned by the brand and impact roughly 480 employees, KPMG Australia, the Receivers and Managers of the Mosaic Brands group said in a statement today.
All 80 of the Katies stores will close in mid-January as well as another 80 stores across the Millers, Rivers and Noni B brands. (Nine)
”The decision was made following a review of the performance of Katies as a brand and the wider…
On Tuesday, Tesla (NASDAQ:)’s CEO Elon Musk made a bold statement about the potential consequences for anyone holding a short position against his company. Musk suggested that even someone with the wealth of Bill Gates could face bankruptcy if Tesla becomes the most valuable company in the world. The context of Musk’s claim is rooted in past reports that Gates, the Microsoft (NASDAQ:) co-founder, had taken a multi-billion dollar short position in Tesla. However, the current status of Gates’s position on Tesla’s stock is not known.
Tesla’s shares have experienced a significant surge, increasing by 60% since the U.S. election results. This rally is partly attributed to Musk’s burgeoning relationship with President-elect Donald Trump….
