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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 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…
This is a summarised article of that which was published in the Maiden Edition of the national insolvency journal, Corporate Insolvency and Restructuring Journal.
Introduction
The reality of corporate failure or demise is not much of a problem than the ability to predict or diagnose it early enough to take necessary measures to protect value or take the requisite actions when faced with corporate failure. With regards to predictability and diagnosis, distress is easily predicted in certain micro and macro circumstances.
For instance, in the context of Ghana, the threat to business survival and growth exacerbates in an economy, which aside…
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 covering the money owed.
Mars has spoken about his affinity for gambling in past media…
A growing number of larger technology companies are scrambling to restructure their operations to avoid insolvency, as stubbornly high labour costs and a tough capital-raising environment mean directors are flirting dangerously with insolvency, new data shows.
Tim Klineberg of King & Wood Mallesons says Safe Harbour is a strategy for company owners to consider when storm clouds are forming.
