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Two popular venues in Melbourne have gone into voluntary administration as teams work to find a way to keep the “much-loved, iconic” venues afloat.
Tracey Lester, the owner of the companies behind the Carlton Club and the Windsor Castle Hotel, has hired Cor Cordis administrators Rachel Burdett and Shaun Matthews to restructure the financial affairs in light of current economic challenges.
“The past few years have been incredibly challenging as we navigate the ongoing impacts of the COVID-19 pandemic on both The Windsor Castle and The Carlton Hotel,” she said.
Tracey Lester, the owner of the companies behind the Carlton Club and the Windsor Castle Hotel, has hired Cor Cordis administrators Rachel Burdett and Shaun Matthews to…
In the coming weeks, 23,000 residents will see part or all of their medical debt cancelled, Connecticut officials announced on Monday morning at the state Capitol. The measure will erase $30 million in medical debt, providing relief for thousands at a time when the frustration over health care costs has dominated the national conversation.
This marks the first wave of a state program that aims to cancel a total of roughly $650 million in medical debt for state residents by 2026. People who qualify for this round of debt cancellation are slated to receive letters in the mail beginning December 23.
“This can be life changing for so many Connecticut residents who are already burdened by medical…
Darcella Ltd offered heavily discounted hospitality packages to businesses for in-demand music and sporting events
The company’s clients paid for packages which were later cancelled with no refunds provided
Darcella benefitted by more than half a million pounds between Autumn 2022 and Spring 2023
A company which offered discounted corporate hospitality to major sporting and music events has been shut down after its clients paid for event packages which were later cancelled with no refunds provided.
Darcella Ltd targeted companies with offers of high-end hospitality at sold-out events such as the Six Nations Rugby, Carabao Cup final, Cheltenham Gold Cup, and the BRIT Awards.
Millions of Australians with HECS debt are set for substantial relief thanks to the Albanese government’s latest reforms. The changes include a higher repayment threshold and reduced indexation rates, providing financial relief for around three million people. The ATO has already started processing credits for eligible Australians.
HECS Debt Changes: What You Need to Know
The government aims to ease the burden of HECS debt with two major changes. First, the repayment threshold will increase by more than 20 per cent. The minimum threshold will rise from $54,435 in 2024-25 to $67,000 in 2025-26. Second, repayments will only apply to income above $67,000 instead of a person’s total income.
These measures will allow lower-income earners to…
Insolvencies among German businesses were up by almost 25% this year, credit bureau Creditreform said on Monday, as firms are grappling with rising energy prices, the ailing economy and the fallout from the coronavirus pandemic.
With no signs of improvement, the number of insolvencies is expected to rise to record levels in 2025, the credit bureau said.
“The surge is turning into a wave, and this will continue in 2025,” Creditreform managing director Bernd Bütow said.
The credit bureau expects a total of 22,400 companies to declare insolvency by the end of 2024, up from 17,814 cases the year before.
It would be the highest level since 2015, with 23,100 insolvencies.
US President Joe Biden speaks during an event in Madison, Wisconsin, US, on Monday, April 8, 2024.
Daniel Steinle | Bloomberg | Getty Images
With weeks to go before President-elect Donald Trump takes office, the Biden administration is still taking steps to deliver sweeping student loan forgiveness to millions of Americans.
The U.S. Department of Education has submitted its so-called “Plan B” for student loan cancellation to the Office of Management and Budget for review.
“OMB review is the last step” before the policy is published in the Federal Register, said higher education expert Mark Kantrowitz.
Louisiana Apple, an Applebee’s franchisee with 14 locations in Kentucky, Oklahoma, Indiana, and Arkansas, has filed for Chapter 11 bankruptcy protection following a lawsuit issued by one of its creditors.
City National Bank of Florida alleges the franchisee owes about $8.3 million in debt dating back to September 2020, when an initial loan was made for $7.1 million. CNB claims Louisiana Apple “failed to make payments due since on or about July 28, 2023,” and entered into a forbearance and loan modification agreement earlier this year. That agreement expired in May and CNB alleges the franchisee has failed “and refused” to make any payments.
Connecticut is working to relieve the often-overwhelming burden of medical debt by enlisting a nonprofit that crunches that debt, easing costs for thousands of families.
“What we do is we buy those debts for pennies on the dollar,” said Allison Sesso, president and CEO of the nonprofit, Undue Medical Debt, which negotiates a price with providers, buys and then cancels the debt, which is sold at a fraction of its face value because it’s held by those who are least able to pay.
In the first round of the relief effort, the state is spending $100 thousand in federal funds to wipe out a total of $30 million in medical debt for 23 thousand residents. $6.5 million has been set aside for the long-term effort to…
Due to a new pilot program, an estimated 150,000 residents across LA County will soon have their medical debt cleared, and thousands more will be notified in the coming month of similar news, officials announced Monday.
The Los Angeles County Department of Public Health launched its Medical Debt Relief Program, an initiative aimed to eliminate such debt that disproportionately affects vulnerable communities.
County officials said the program will initially eliminate $500 million in debt by using a $5 million investment to purchase medical debt for pennies on the dollar for low-income residents. The County Board of Supervisors approved the program earlier this year, which was spearheaded by Supervisors Janice Hahn and Holly Mitchell.
