The WA Opposition has formally referred embattled builder NicheLiving to the Australian
Securities and Investments Commission (ASIC) following reports suggesting the company may
have been trading while insolvent as far back as 2021.

Opposition Leader and Shadow Commerce Minister Shane Love MLA called for ASIC to urgently
investigate NicheLiving after it was revealed the company directors have mounted a successful bid
to re-take control of the company this week.

“ASIC’s intervention is critical to ensure the directors of NicheLiving are held accountable, and to
demonstrate to the building industry and consumers that improper conduct will not go unchecked,”
Mr Love said.

Administrators for NicheLiving Holdings have stated the parent…

The Finance Ministry is planning to launch an ambitious debt relief initiative titled “You Fight, We Help”, targeting retail debtors, homeowners, car owners and small businesses struggling with financial challenges.

The project received a green light from the Cabinet on Wednesday.

Finance Minister Pichai Chunhavajira explained the motivation behind the project, saying: “We recognise the importance of solving people’s debt problems and believe this measure will help alleviate suffering and improve people’s well-being.”

The aim is to help some 1.9 million debtors who owe a combined debt of approximately 890 billion baht.

Shortly after the project got the Cabinet go-ahead, the ministry and the Bank of Thailand…

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A non-profit organization that supported small businesses across British Columbia has ceased operations due to financial challenges. 

Small Business B.C. (SBBC) was placed under bankruptcy on Dec. 5. MNP Ltd. has been appointed its trustee.

SBBC was established as a non-profit in 2002 and provided entrepreneurs at various skill levels guidance and resources to help build their businesses. For example, businesses could book consultations with advisors or get advice on importing and exporting products. 

SBBC had served over 880,000 clients, according to its 2022-2023 annual report.

But financial statements from previous years reveal the organization’s operating cost had grown substantially in recent years with the organization…

The Central Bank of Montenegro (CBCG) has declared Montenegrin bank Atlas Banka bankrupt and has started insolvency proceedings.

On April 7, CBCG representatives said that the bankruptcy leaves 90 per cent of Atlas Banka employees out of work, adding that the total deposits in the bank amount to 189 million euros. Individual deposits of up to 50,000 euros – covered by Montenegro’s Deposit Protection Fund – total 89 million euros.

The CBCG placed Atlas Banka under its interim administration in December 2018 after revealing that its capital had not met the minimum risk requirements. Since then, the central bank had tried to find investors to recapitalise the bank, but had failed to do so.

Atlas Banka is the second…

BANGKOK, Thailand – Prime Minister Paetongtarn Shinawatra revealed that the Cabinet has approved debt relief measures to support individual borrowers, small and medium enterprises (SMEs), and vulnerable groups, December 11. These measures aim to address non-performing loans (NPLs) of up to 5,000 Baht, allowing borrowers to clear their debts and improve their financial standing.

The initiative, proposed by the Ministry of Finance, includes debt restructuring to reduce principal and interest payments for borrowers meeting specific conditions. This will help protect assets…

MILLIONS of energy customers will get access to ‘no standing charge’ tariffs under new plans revealed by Ofgem today.

The energy regulator is also planning to launch new support for customers struggling with debt.

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As part of its plans, there could be a new scheme that means some customers could have their debts wiped or have repayments matched to help them clear their arrears.

The proposals are part of a huge shake-up to help tackle the “stubbornly high” debt levels that have built up despite falling energy prices.

Total energy debt is now at more than £3.8billion, a rise of more than £2billion in the last three…