Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Constance Hall has put her online fashion business into voluntary administration.The mother-of-six took to Facebook late Thursday evening to announce she
If your credit cards are maxed out, or you were late in making a payment, you may have received a letter from a company claiming it can forgive or reduce your credit card bill. While some third-party debt relief programs can definitely help you, not all of them are trustworthy.
Dismayed by the news that one of Britain’s greatest ever Olympians had been declared bankrupt, I had been trying all week to contact Sir Bradley Wiggins and hear his side of this sorry story.
Puzzlingly, he wasn’t to be found at either of the addresses in Lancashire which he gave to court: an elegantly converted barn in the North Lancashire countryside and a redbrick semi 20 miles away, in the resort of Lytham St Annes.
Yesterday, when the great Olympian’s lawyer Alan Sellers finally contacted me, he explained the shocking reasons for this.
The £975,000 barn that Sir Bradley once shared with his ex-wife Cath and their three children had been repossessed by a building society and sold a few months ago. As for the semi, that had been…
The mining company that runs the Peko iron ore and gold mine in the outback Northern Territory town of Tennant Creek has been placed into voluntary administration, after years of racking up debts.
In an announcement to the Australian Stock Exchange on Tuesday, Elmore Ltd said it was “insolvent or likely to become insolvent at some future time” and had placed its…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. Prices after the first 12 months may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details.
In shock news to the industry, Australian New York-based designer Dion Lee has appointed voluntary administrators to the brand’s Australian business. The brand is the fourth independent label this week to raise alarm. Whereas the other three announced the end of operations, Dion Lee’s move to voluntary administration may well mean the brand can continue.
Dion Lee, which has become a mainstay at New York Fashion Week after crossing over in 2014, is under the control of Australian insolvency firm DVT Group administrator Antony Resnick. The move comes after Australian brand and retailer Cue, which acquired a major…
Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business.
Last month, Guardian Australia revealed Panthera, one of the country’s biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and continued to strike debt purchase deals within weeks of regulatory warnings.
The company has now announced two of its holding companies have been voluntarily placed into administration. Two new directors – the existing chief financial officer, Frank Terranova, and Ryan Shaw – have also been appointed.
The company denies the moves are linked in any way to public…
Constance Hall has put her online fashion business into voluntary administration.
The mother-of-six took to Facebook late Thursday evening to announce she would be shutting up shop on Queen The Label after being ‘stressed out for seven years’.
In a long-winded post, Constance, 40, said she ‘dreaded’ breaking the news, and that administrators will be coming in to sell her remaining stock and repossess her car.
‘I have put Queen The Label into voluntary administration,’ she announced to her 1.3million followers.
‘I’m still coming to terms with losing the companies 300k subscribers and my car and the original investment of money. But this is the price to for freedom and peace of mind.’
You can start erasing $25,000 in credit card debt by taking certain steps now.
Rob Hyrons/Getty Images
Compounding interest on credit card balances can quickly snowball for cardholders, which is why it’s imperative to pay your balance in full each month to avoid costly interest charges. Tackling credit card interest before it gets out of hand can be especially difficult in this high-interest rate environment.
According to the most recent Federal Reserve data, cardholders now pay an average interest rate of 22.76%, up from 16.28% in 2020. Many credit cards now charge interest rates of around 30%. These higher interest…
2U, a fading giant in the online program manager space, announced Thursday it had filed for Chapter 11 bankruptcy. While the company said the process will put it back in a competitive position, experts said the filing creates an incentive for longtime customers to rework their contracts or finally jump ship from an OPM plagued for months by lawsuits, layoffs and a struggling bottom line.
The news came as no surprise to either opponents or proponents of the industry. 2U had been on shaky ground since it acquired nonprofit learning platform edX in 2021, paying $800 million to Harvard University and the Massachusetts Institute of Technology and landing in debt it could not escape. But the filing raises new concerns and questions for the…
On Thursday, the Supreme Court of India declined to defer or impose a stay on the operations of a Committee of Creditors (CoC) recently established to oversee the corporate insolvency resolution process (CIRP) for the ed-tech firm Byju’s [Glas Trust Company LLC v. Byju Raveendran and ors].
The Bench, comprising Chief Justice of India (CJI) DY Chandrachud, Justices JB Pardiwala, and Manoj Misra, indicated that it would not consider issuing a stay order to restrain the CoC proceedings without first reviewing the case on its merits.
“If we dismiss the appeal, everything goes. If we dismiss their appeal, they cannot later invoke Section 12A. We need to hear the matter on its merits,” said the CJI before adjourning the case…
