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Video: Government to guarantee Rex flights as airline in administrationGovernment to guarantee Rex flights as airline in administrationWe’re sorry, this
Queensland's treasurer has handed down a big-spending, pre-election budget, offering up $3.7 billion in new cost-of-living relief — unapologetically plunging
Councillors at Birmingham city council “ignored the warning signs” of its financial crisis and caused a “self-inflicted” disaster that will take years of cuts to rectify, according to the lead government commissioner drafted in to help.
Local government expert Max Caller, who has been nicknamed Max the Axe for his unsparing approach to budget cuts, was lured out of retirement to take on the task of fixing England’s largest local authority after it effectively declared itself bankrupt.
“They should never have done this. They ignored the warning signs, crashed on regardless and they have created themselves a controlled disaster,” said Caller, who is five weeks into the task of pulling the local authority from the financial…
UPDATED 3/18/24, 3:47 p.m. ET: MGM Resorts International has denied allegations that Bruno Mars is in debt with the global hospitality and entertainment company.
“We’re proud of our relationship with Bruno Mars, one of the world’s most thrilling and dynamic performers,” MGM wrote in a statement provided to Complex. “From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno’s brand of entertainment attracts visitors from around the globe. MGM and Bruno’s partnership is longstanding and rooted in mutual respect.”
The statement continues: “Any speculation otherwise is completely false; he has no debt with MGM. Together, we are excited to continue creating unforgettable experiences for our guests.”
EuroScience, the association behind the European Science Open Forum (ESOF), Europe’s largest science conference has gone bankrupt after failing to secure funding for the 2026 event.
This year’s ESOF will go on as planned in Katowice, Poland, but uncertainty looms over the future after the European Commission, a co-funder of the conference, changed the way it allocates money for the biennial event, prompting other supporters to pull out.
EuroScience was set up in 1997 by a group of 250 scientists and research professionals from 25 European countries, with the goal of bringing together people interested in science, technology and the humanities. The association has actively participated in shaping science and technology policy…
The Centre for Transnational Commercial Law (“CTCL”) is a constituent unit and specialized research centre of the National Law University Delhi established in 2008 by Act No. 1 of 2008 of Delhi. Since its establishment in 2016, CTCL has actively undertaken various initiatives to promote research and scholarship in the area of commercial laws.
CTCL envisages being a centre of excellence in private and government transnational commercial law reform, advice, and policy evaluation, to conduct research, and provide consultative services to Governments, Institutions, and Organizations, dedicated to the development of Transnational Commercial Law and Policy.
More than three million Australians will have their student debt wiped in a bid to win over younger voters crushed by the cost of living crisis.
Education Minister Jason Clare on Sunday announced the government would cap the Higher Education Loan Program (HELP) indexation rate, eliminating about $3 billion of student debt.
The capped rate would ensure indexation matched either the Consumer Price Index (CPI) or Wage Price Index (WPI) – whichever was lower – after Australians were slugged a student debt increase of 7.1 per cent in 2023.
The Federal Court has recently delivered judgment in the case of Cooper as Liquidator of Runtong Investment and Development Pty Ltd (In Liq)v CEG Direct Securities Pty Ltd [2024] FCA 6, a case where a liquidator was successful in having a mortgage declared as an unreasonable director-related transaction.
Key Takeaways
To declare that a transaction is an unreasonable director-related transaction and voidable, the Court must be satisfied that, on an objective test assessed at the time the transaction was entered into, a reasonable person in the company’s position would not have entered into the transaction.
In assessing whether a payment or disposition of property occurred ‘for the benefit of’ a company director, it will be…
Vanuatu’s only airline has entered voluntary liquidation after its government ordered a review of the carrier’s operations, disrupting the travel plans of hundreds scheduled to fly between the island nation, Australia and New Zealand over the next week.
Ernst & Young (EY) were appointed liquidators on Friday after the government-owned airline was grounded earlier this week. Air Vanuatu confirmed on Thursday that all flights were cancelled until Monday at the earliest so the company could consider its options.
Air Vanuatu’s single Boeing 737-800 has been out of action since March. Credit: iStock
The carrier usually flies from Sydney and Brisbane to Port Villa three times a week. It also flies from Auckland four times each week and…
But if you believe a report from News Nation, part of the reason Mars’ residency has lasted for so long is because he’s accrued a sizable gambling debt at the casino. “He owes millions to the MGM [from gambling],” an unnamed source told News Nation. “[MGM] basically own him.”
The source estimated that Mars owes as much as $50 millions to MGM. He reportedly takes in $90 million annually as part of his deal with the casino, but after taxes he’s just barely…
Enviva, the world’s largest maker of wood pellets with four plants and an export terminal in North Carolina, has declared bankruptcy but says it expects to emerge with its business intact.
Maryland-based Enviva announced late Tuesday that it had reached agreements with several of its creditors that will allow it to reduce its debt by $1 billion. To carry out those agreements, the company says it went into Chapter 11 bankruptcy.
Enviva essentially sells one product: cylindrical pellets about as big around as a pencil that it makes from trees and scrap wood from the Southeastern United States. Demand for the pellets has remained strong in Europe and Asia, where they are burned in power plants for heat and electricity.
ASIC has banned Joel James Hewish for 10 years from providing financial services, performing any function involved in carrying on of a financial services business and controlling an entity that carries on a financial services business.
ASIC has also cancelled the Australian financial services (AFS) licence of Mr Hewish’s company, United Global Capital Pty Ltd (UGC). ASIC found that UGC’s authorised representatives contacted prospective clients and recommended they establish a self-managed superannuation fund (SMSF), rollover their existing superannuation into the SMSF and invest it in highly speculative investments related to Mr Hewish.
UGC’s AFS licence was cancelled based on ASIC’s findings that UGC:
Queensland’s treasurer has handed down a big-spending, pre-election budget, offering up $3.7 billion in new cost-of-living relief — unapologetically plunging the state into deficit.
Fees and charges, including for drivers licences, will be frozen next financial year at a cost of $180 million, in the latest move announced by the government designed to assist Queenslanders.
Unveiling his fifth budget on Tuesday, four-and-a-half months out from the October election, Treasurer Cameron Dick declared the state government had made the…
