IH Sydney Training Services in voluntary administration StudyTravel Magazine
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500 jobs gone as iconic fashion retailer shuts down The Australian
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Owner of battling Perth Glory faces tax liquidation push The West Australian
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The company had no assets at the date of liquidation and any recoveries for creditors are still being investigated, the liquidators said.
A list of creditors owed money includes waste management company Clean Event, Generator Rental Sales, Platinum Rentals NZ, Prestige Loos Limited, Rapid Temporary Fencing and The Water Cone.
Liquidators are still to determine if there are any unpaid wages, holiday or redundancy pay owed to former employees.
“It is not practicable to estimate the date of completion of the liquidation or if there will be any distribution at this stage,” the liquidators said.
New Zealand Companies Office records show Bernard Benjamin Kumar of Springfield Lakes in Queensland, Australia is…
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SA kicks off G20 presidency with bold agenda for debt relief, climate aid, and even AI News24
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Municipal officials say Olds taxpayers deserve a comparable level of support that other communities have received for internet connectivity
OLDS — The provincial government should forgive the expected $3 million or so in debt the Town of Olds will have after the sale of O-NET to Telus Communications because of its unique, ground-breaking history, says the municipality’s chief administrative officer, Brent Williams.
He says that’s the argument town officials are making to Alberta Treasury Board and Finance.
Olds Fibre Ltd. (OFL), operating as O-NET, was sold to Telus effective Nov. 6. The price was not disclosed, but Williams says all will be disclosed next spring.
O-NET, created about 11 years ago, was Canada’s first…
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A decade ago, custom-built ecommerce platforms were the gold standard for delivering innovative, robust buyer experiences. Other retailers differentiated themselves with heavily customized storefronts built on managed platforms. However, these solutions were inherently limited, forcing businesses to rely on workarounds and complex integrations to stay competitive and drive growth.
Today many of these custom, legacy ecommerce solutions are still around—and teeming with technical debt. This debt, created by shortcuts, quick fixes, and suboptimal technology choices, can show up as outdated code, poor customer experiences, slow time to market, and a lack of modern features.
The impact of this technical debt to a business can be massive. A…
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“The federal government likes to say that it is on the side of small business, yet all we see is more and more businesses go to the wall,” Hunter said.
“To keep good businesses thriving, the NSW government needs to take a serious look at lowering payroll tax levels, bed down proper reform of the Emergency Services Levy to reduce the pressure on insurance premiums and establish a new energy advice and support program targeting the SME sector. Federally, we need both a rethink of the recent industrial relations changes and a permanent increase to the size and scope of the instant asset write-off.”
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26 September 2024
Creditors successful in direct claims for compensation against directors
In 2023 the Supreme Court confirmed in the Mainzeal decision that section 301 of the Companies Act could be used for direct claims by creditors against directors for losses suffered as a result of breach of director duties.
This was recently used by a creditor in Boaden v Mahoney [2024] NZHC 2783. The High Court ordered the director of Civil Underground Limited (in liquidation) to pay compensation of $89,400 to the creditor under section 301 for direct losses suffered as a result of the director’s breach of the reckless trading duty (section 135) and the duty in relation to incurring obligations (section 136).
Directors should be aware that…
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Having spent 35 years in the automotive industry, it is my experience dealer principals are generally concerned about “being in debt,” though debt, when managed properly, can be a powerful tool for dealership principals to enhance liquidity and profitability. Leveraging debt allows dealerships to access capital needed for growth, manage cash flow effectively, and take advantage of investment opportunities without diluting ownership.
Let’s look at which types of dealership assets are relevant and how to effectively leverage them:
Inventory
Inventory is one of the most significant assets for automotive dealerships. It includes both new and used vehicles held for sale. Leveraging inventory often involves utilizing…
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Essential data to guide decisions, monitor progress, and evaluate impact.
See More Data
world-bank:category/digital
92.76 million
people had enhanced access to broadband internet in fiscal year 2023-2024 with support from IDA.
Source: International Development Association, World Bank
world-bank:category/people
143.61 million
people received essential health, nutrition, and population services thanks to IDA in fiscal year 2023-2024.
Source: International Development Association, World…
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The Federal Trade Commission (FTC) said Monday (Dec. 9) that at its request, a federal court halted and froze the assets of the operators of a scheme that allegedly bilked student loan borrowers while pretending to be affiliated with the Department of Education.
In response to the FTC’s complaint against Nevada-based Superior Servicing and its operator Dennise Merdjanian, the U.S. District Court for the District of Nevada entered a temporary restraining order on Nov. 22 and a preliminary injunction against Superior Servicing on Friday (Dec. 6), the FTC said in a Monday press release.
The FTC charged that the defendants violated the Impersonation Rule, the FTC Act’s prohibition on deceptive marketing, the Telemarketing Sales…
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