Insolvency Guardian Media Centre
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Staff noticed what they now describe as “red flags” at No Standing before the digital marketing agency went into voluntary liquidation.
“I was always paid late … I’d be shocked if my superannuation ever turns up,” an insider who did not want to be named told AdNews.
“There’s an extreme lack of communication [within the business].. employees are constantly having to chase management for answers saying ‘hey, this is wrong’ or ‘what’s happening with this?’.”
Other staff, who also spoke to AdNews anonymously, told a similar story around late payments and missing superannuation.
“Over the course of five or six years, they’ve owed staff superannuation. They went on a payment plan with the ATO…
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The former longtime interpreter for Los Angeles Dodgers star Shohei Ohtani is being charged with federal bank fraud for crimes involving gambling debts and theft of more than $16 million from the Japanese sensation, federal authorities said Thursday.
U.S. Attorney Martin Estrada announced the charges Thursday.
Ippei Mizuhara served as Ohtani’s interpreter after Ohtani came to the U.S. in 2018 to play baseball. Estrada says Mizhuara “acted as Mr. Ohtani’s de facto manager.”
Estrada says Mizuhara helped Ohtani set up a bank account for Ohtani’s baseball salary. Estrada says Mizuhara stole more than $16 million from Ohtani’s bank accounts to pay for his own sports betting and lied to the bank to access the account.
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EVERYONE has heard of people being declared bankrupt, but it’s not as simple as just having no money.
In 2024, it was revealed Katie Price had gone bankrupt for the SECOND time after blowing her £45M fortune,
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What is bankruptcy?
Bankruptcy is a legal status whereby debts cannot be repaid.
In the UK being bankrupt is limited to applying to individuals but in the US and some other countries, it can be applied to companies as well.
The word itself is derived from the Italian phrase banca rotta meaning “broken bank”.
In the modern world, it normally involves a restructuring of debts in an attempt to rehabilitate those who owe the money and sometimes continue with their
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Rex flies to 56 destinations including many in regional Australia such as Port Macquarie, Coffs Harbour, Orange, Dubbo and Albury in NSW, Mount Gambier in South Australia, Burnie and Devonport in Tasmania, Cairns and Mt Isa in Qld and Mildura in Victoria.
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The Victorian budget has confirmed delays to the Airport Rail Link, as the state government outlines its plan to tackle the state’s rising record debt.
Treasurer Tim Pallas’s 10th budget has still contained plenty of spending, with no new major taxes introduced.
Parents will get the biggest budget sweetener, with $400 credits to help with education expenses for children at…
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99 Cents Only Stores Goes Bankrupt as Inflation Keeps Biting Bloomberg
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NOIDA: The national company law tribunal has started corporate insolvency resolution process against ATS Knightsbridge project, a luxury project located in Noida’s sector 124.
The NCLT has appointed an interim resolution professional after the builder, ATS, failed to pay dues on time, said the order.
The ASK Trusteeship Services Private Limited representing ASK Real Estate Special Opportunities Fund and ASK Real Estate Special Opportunities Fund II in capacity of being its investment manager, ASK India Real Estate Special…
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Shohei Ohtani’s ex-interpreter stole $16 million to cover gambling debts, feds say The Washington Post
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Insolvencies across the board are on the rise, including in fashion. Christopher Kelly speaks with insolvency firm Jirsch Sutherland to learn how business leaders can navigate the fall.
Retail trade is the fourth highest sector when it comes to insolvencies. This is according to the Australian Securities and Investments Commission (ASIC) in a report that shows overall insolvency appointments recently peaked at 1,400 in March 2024. This is up from 1,276 in February, and 799 in January.
Interestingly, insolvencies in January are generally quiet compared to the rest of the year, but January 2024 is a lift of 61.7 per cent on January 2023.
The same report also shows that retail-specific insolvency appointments have steadily risen since…
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The collapse of an Australian tech company has just taken another twist after staff received a letter from a government agency.
Marketing and software company E-Mersion Media (Aust) Pty Ltd, headquartered in Melbourne, collapsed into liquidation last month with debts of at least $13 million.
All the company’s staff had been stood down by the time the business went into liquidation, where they were finally terminated.
However, several staff who had quit before E-Mersion Media went under had been trying for nearly a year to get their final wages and entitlements paid.
They had escalated the matter to the Fair Work Ombudsman (FWO), an independent government body specialising in workplace relations.
E-Mersion Media claimed to news.com.au…
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Managing business debt effectively is critical for maintaining financial health and ensuring the sustainability of a business, HLB Mann Judd has warned businesses in a recent article.
With businesses facing tougher business conditions, the accounting and advisory firm said its important businesses have a solid debt management strategy for all the debt in the businesses including short-term loans or long-term liabilities.
“Debt can be a double-edged sword. It’s crucial to distinguish between good debt and bad debt, as each can have vastly different impacts on your business’s financial health and growth potential,” the firm said.
Good debt has the potential to support the business and enhance its ability to…
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