By Martin Croucher ( December 5, 2024, 12:36 PM GMT) — Company bosses and their insurers could face increased claims next year both from a predicted rise in corporate insolvencies and class actions, Allianz warned Thursday….
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ATO doubles down on enforcement, uncollected tax reaches unprecedented highs – – Tax – Australia Mondaq News Alerts
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Jaiprakash Associates, the flagship firm of the embattled Jaypee Group, is grappling with insolvency proceedings with an outstanding loan tallying Rs 55,525.89 crore as of November 10, 2024, a recent regulatory filing revealed.
The company has entered the corporate insolvency resolution process in accordance with the Insolvency and Bankruptcy Code, following an order issued by the National Company Law Tribunal’s Allahabad Bench on June 3, 2024. Bhuvan Madan has been appointed as the Resolution Professional to oversee the procedure.
Despite efforts over recent years to alleviate financial pressures by selling cement plants, Jaiprakash Associates has fallen into bankruptcy due to failure to repay debts. The conglomerate’s…
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ISLE OF WIGHT CHURCHES IN FUNDRAISING APPEAL FOR FACE-TO FACE DEBT HELP Island Echo
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Webinar in English, with interpretation in French and Spanish
What opportunities are there for debt relief through the South African G20 presidency and FfD4? Ahead of the first Finance Ministers and Central Bank Governors Meeting under South Africa’s G20 Presidency, this virtual roundtable will discuss how to drive ambitious debt relief initiatives in 2025, focusing on two pivotal platforms: the G20 Presidency and the Fourth Financing for Development Conference.
Bringing together thought leaders, the discussion will dive into innovative initiatives to address the urgent financing needs of developing countries. Key topics will include concrete debt relief proposals, how global forums can collaborate to build momentum,…
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Maketu Pies factory.
Photo: RNZ / Luka Forman
Maketū locals are pleased their famous pies are back on the menu, saying the business is an asset to the small community.
Maketū Pies has been bought by a catering company after a two-week liquidation process.
The pie shop has been a major employer for the small Bay of Plenty town for many years, and locals were worried about what would happen if it shut altogether.
So what do these iconic pies, and the jobs they bring, mean to the community?
Maketū is a sleepy beachside town with only a few shops, and the pie factory is its pride and joy.
Local woman Jane Henry fondly remembered picking up boxes of 30 or 40 leftover pies from the factory for just $30.
Jane Henry outside…
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The National Company Law Tribunal, Mumbai Bench, has dismissed the company petition seeking insolvency because the financial creditor withdrew it.
The Financial Creditor sanctioned a One-Time Settlement on October 1, 2024, under which the corporate debtor paid the financial creditor the entire amount of OTS of US Dollar 21,61,700.
The default amount involved in this Petition was Rs. 19 crores, and after interest, the default amount came to Rs. 26 cores. This has been settled for US Dollars 21,61,700, which is equivalent to INR Rs. 17.70 crores.
The matter was heard before the bench of Lakshmi Gurung (Judicial Member), and Charanjeet Singh Gulati…
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Daughter asks for tips online on how to help her 71-year-old retired mum with $15k debt The Independent
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“I am not going to be too hard on my former management,” he wrote on Instagram. “They spread themselves too thin trying to support their people, and stuffed up the numbers.”
Not all of Ivanoff’s clients were so forgiving. Greg Larsen signed on with the company just a month ago: “Since Junkyard went insolvent, a lot of artists have been talking to each other, and realising that he owed more of his artists money than we thought.
“The artists haven’t been paid, and crew and other staff haven’t been paid.”
Junkyard Artists director Craig IvanoffCredit:
The timing is especially poor for comedians: Fringe World in Perth, which traditionally marks the start of the festival touring season, is just two months away.
The Junkyard…
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The CAP Debt Centre Isle of Wight is aiming to raise £30,000 to provide free support to more households in financial crisis.
For two years, a group of Isle of Wight churches has partnered with UK debt help charity Christians Against Poverty (CAP), aiding locals in managing their debts and delivering practical and emotional assistance.
The service is anticipated to be in higher demand this winter, as people find it harder to make ends meet.
With two new local debt coaches currently in training, the centre is urgently seeking funds to meet the rising demand.
Treasurer for the CAP Debt Centre, Nigel Cox, said: “This is a desperate situation for many families on the Island, who are living in poverty. As most of us…
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I t took less than a month for Star Entertainment’s new chief executive, Steve McCann, to realise he had a big problem.
When he arrived on July 8, Star was facing the prospect of losing its Sydney casino licence, was well behind on its remediation plan, had struggled to get high rollers to spend money at its precincts for months, and its management team had been blown apart.
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“I am not going to be too hard on my former management,” he wrote on Instagram. “They spread themselves too thin trying to support their people, and stuffed up the numbers.”
Not all of Ivanoff’s clients were so forgiving. Speaking on condition of anonymity for fear of complicating legal actions others might be pursuing, one said: “Since Junkyard went insolvent, a lot of artists have been talking to each other, and realising that he owed more of his artists money than we thought.
“The artists haven’t been paid, and crew and other staff haven’t been paid.”
Junkyard Artists director Craig IvanoffCredit:
The timing is especially poor for comedians: Fringe World in Perth, which traditionally marks the start of the festival…