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NSW Housing Minister Rose Jackson says the NSW Building Commissioner is investigating Homes NSW paying an insolvent builder to construct public housing in Wagga. Photo: Facebook.
The Federal Government business regulator “confirmed” a company chosen to build public housing in Wagga “was solvent” at a time it was actually insolvent, according to the NSW Government department that managed the contract.
The Land and Housing Corporation (LAHC), now called Homes NSW, chose insolvent company Matrix Group Co as its main contractor to build four government units at 16 Spring Street in late 2020 and kept paying Matrix for almost a year while the Sydney construction business was deeply in the red.
A cash advance app can help you out if you’re in a pinch, such as for an unexpected car repair to pay for, or if you’ve got a time-sensitive opportunity that can’t wait until payday. There are many cash advance apps to choose from, all with varying features.
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The average overall interest rate for personal loans is 21.18%, up from last week.
You can use a personal loan to pay for anything from a wedding to home renovations, dental work, and even income taxes. However, most borrowers use them to consolidate debt. That purpose is so popular that some lenders, including Happy Money and Reach Financial, specialize in debt…
With the federal government’s ability to forgive student debt up in the air, experts say it would behoove borrowers to explore the many state-level relief programs available.
“Most states have one, especially if you’re in health care,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit that helps borrowers navigate the repayment of their debt.
The Post Office knew a post office operator would probably be bankrupted by a legal case he brought but wanted to send a warning message to others, a solicitor who worked for the company has admitted.
Lee Castleton was made bankrupt by the Post Office after a two-year legal battle. His case is one of the most high-profile in the Horizon IT scandal, which has been described as the most widespread miscarriage of justice in UK history.
Castleton bought a post office in Bridlington, east Yorkshire, in 2003. However, within a year his computer system showed a £25,000 shortfall, despite him calling the Post Office’s helpline 91 times as he suspected the Horizon IT system was at fault.
He was taken to court by the Post Office, where he had to…
Many Australians have been left stranded at airports across the country after budget airline Bonza “temporarily” suspended all flights on Tuesday.
The company entered voluntary administration within hours of the cancellations, and the administrators have since confirmed the fleet will remain grounded until Thursday, May 2.
Here’s what we know so far.
First up, what is Bonza?
Bonza Aviation was set up as a budget regional airline and its first flight took off in January 2023.
The airline aimed to target the regional routes that weren’t serviced by the larger carriers like Virgin, Qantas or, more recently, Rex Airlines.
For example, with Bonza you were able to fly from the Sunshine Coast to Mildura without having to stop in a capital city.
“Bolstering the business for the future, we’ll be sharing exciting updates soon”
Recently, the Dutch branch of Infarm, which had already scaled down its activities in the Netherlands, was declared bankrupt. The vertical farming company had already been granted a deferment of payment. That suspension status has now been converted into bankruptcy. The company was registered as Infarm – Indoor Urban Farming B.V., which is no more.
The Infarm team let VerticalFarmDaily know that “The core trading operations, including our farm in Toronto, are not impacted by the group restructuring. This restructuring is aimed at…
A record number of businesses have been placed into administration in the past year, an inquiry has been told, with advocates saying inflationary pressures are affecting multiple industries.
Officials from Australia’s corporate watchdog told a parliamentary inquiry into the cost-of-living crisis that 11,053 businesses entered external administration in the 2023/24 financial year.
ASIC commissioner Kate O’Rourke said while the proportion of businesses going into administration was not the highest, the past year had the most overall.
“The highest number in terms of proportion remains 2011/12 … the number we’ve got now is the highest number, but we’ve got more companies,” she told the inquiry on Friday.
The low-cost airline Bonza entered voluntary administration on Tuesday, after abruptly cancelling all of its flights after the repossession of its entire fleet that caught its CEO by surprise.
Passengers were left stranded at a handful of airports when Bonza “temporarily suspended” all services on Tuesday with no notice, as the airline’s owners considered the viability of the business’ future.
Bonza appointed firm Hall Chadwick for the administration process of its operating and holding company, documents filed with the Australian Securities and Investments Commission (Asic) show.
Bonza’s fleet has been grounded until the end of Thursday, with the administrators advising passengers with booking not to turn up to the airport.
