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SolarZero Limited, New Zealand’s biggest solar energy company, has announced its liquidation, citing unsustainable operating losses and liquidity constraints. The
As of September 30, 2024, a total of 40,943 cases have been filed in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016.
Creditors have realized 3.55 lakh crore under resolution plans, achieving 161.11% of the liquidation value and 86.13% of the fair value of the assets.
The quarterly reports indicate that the number of liquidation orders approved is 2.5 times higher than the resolution plans approved, suggesting a shift in trends regarding corporate insolvency resolutions.
The changes would apply to all graduates earning up to $180,000 a year.
Graduates earning $70,000 will pay $1,300 less.
The government will aim to legislate the changes in 2025 to take effect from 1 July.
Three million Australians will have lower annual student debt repayments if the government wins the next election as the prime minister unveils the first major pitch to voters and seeks to move on from a string of controversies.
The minimum repayment threshold for student loans would jump by about $13,000 a year, so graduates would begin paying down debts once they earned $67,000, instead of $54,000, from 1 July 2025.
The government would also move to a marginal repayment system in which the amount of a debt repaid was a…
(Bloomberg) — For the hundreds of investors claiming to target net-zero portfolios, their largest holdings are often their biggest problem. That’s because the $64 trillion global market for sovereign bonds is largely inhospitable to sustainability-minded investing.
Why? There are only a limited number of issuers (fewer than 150 globally compared with more than 70,000 corporate bond issuers), meaning investors risk a much more concentrated portfolio if they seek to avoid climate laggards. Second, some investors have to hold government debt to match their assets with their liabilities, leaving them captive buyers of bonds they might otherwise have shunned.
Given these and other challenges, UK fund manager Abrdn Plc says the “drive…
SolarZero Limited, New Zealand’s biggest solar energy company, has announced its liquidation, citing unsustainable operating losses and liquidity constraints.
The company, founded in the 1970s and recognised for its pioneering role in renewable energy, ceased operations from 4pm on Tuesday.
The directors of SolarZero said the decision came after extensive efforts to explore restructuring options. “Regretfully, SolarZero and its key stakeholders were unable to find a viable solution to sustain the business. This is a tough day for SolarZero teams, who have worked hard to build a more sustainable New Zealand. Today’s decision is not a reflection on their work or commitment.”
Ahead of the liquidation, the company’s senior lenders…
Sources previously told this masthead Labor’s second-term agenda would be focused on HELP changes, universal childcare and new investments in TAFE.
The wiping of debt, which mirrors similar moves by the US Democrats, although Americans are not helped by the government to pay tertiary study fees, will affect people with HELP debts…
The federal government has rising university student fees in its sights for the next stage of its university debt overhaul, with a government source saying a one-off 20 per cent cut to debts is an interim measure.
Labor has made an election promise to wipe an average of $5,500 from existing student HECS debts and reduce the minimum amounts graduates must repay, as well as raise the income threshold at which mandatory repayments begin.
On Monday Health Minister Mark Butler hinted there were more changes to come before the year’s end.
“As Jason Clare has said, he’s got a very substantial report in front of him, the Universities Accord Report that makes a series of recommendations about structural change to university fees,” Mr Butler said.
The Albanese Labor Government will raise the minimum repayment threshold for student loans and cut repayment rates to make the repayment system fairer for all Australians with a student debt – around 3 million people.
From 1 July next year, the Government will reduce the amount Australians with a student debt have to repay per year and raise the threshold when people need to start repaying.
The reforms will apply to everyone who has a student debt, including all HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loans.
The Government will lift the minimum repayment threshold from around $54,000 in 2024-25 to $67,000 in 2025-26 and introduce a system where repayments are based on the portion of…
(Nov 26): Thai banks’ non-performing loans last quarter jumped to their highest level in three years as troubled corporate and individual borrowers continued to struggle to repay debt, though the Bank of Thailand announced progress in talks with the finance ministry on relief measures.
Some 2.97% of commercial banks’ outstanding loans were non-performing at the end of September, up from 2.84% in the previous quarter, Bank of Thailand assistant governor Suwannee Jatsadasak told a press conference Tuesday. That was the highest ratio since the third quarter of 2021, she said.
Prime Minister Paetongtarn Shinawatra has pledged measures to help reduce high household debt levels that are fueling bad loans and making banks reluctant to extend…
