ScotPac on Wednesday released the results of its latest SME Growth Index which shows only 18 per cent of small business leaders take on strategic planning assistance, despite plans to restructure, while just 14 per cent currently take on advice related to mergers and acquisitions, and 10 per cent turn to experts for risk management advice.

Tax and compliance remains the leading cause for small business leaders to turn to advisers, with 93 per cent of respondents reported as doing so. Of those surveyed, 31 per cent turn to th…

Read the full article at: https://www.accountantsdaily.com.au/business/15765-smes-reluctant-to-secure-advice-beyond-tax-and-compliance-scotpac

The number of the unresolved cases is high even after IBBI had allowed exclusion of the lockdown period from the calculation of CIRP process last March.

By Ankur Mishra

The pandemic has affected the resolution process under the Insolvency and Bankruptcy Code (IBC) regime, which is in its fifth year. Latest data showed further delays in resolutions and low recovery in 2020-21. According to data released by the Insolvency and Bankruptcy Board of India (IBBI), 79% of the ongoing cases remained unresolved for more than 270 days till March 2021.

This is a steep rise compared to March 2020 (Q4FY20), when only 35% of the ongoing cases had taken more than 270 days. The data also showed that average time taken to resolve a…

Read the full article at: https://www.financialexpress.com/industry/ibbi-79-of-ongoing-cases-unresolved-for-over-270-days/2264016/

A judge has refused to award legal costs to potato suppliers who successfully opposed the longest running personal insolvency application involving a vegetable wholesaler who was reckless and careless in leaving out details of his assets in his court application.

Judge Mary Enright told Kilkenny circuit court yesterday that both sides should pay their own costs after she heard an application from the family-owned Maddens Stores to recover its costs from a four-year long case against Michael McAteer, a partner in Grant Thornton accountants. McAteer was the personally insolvency practitioner (PIP) representing Patrick Kennedy, a vegetable trader.

In April Maddens Stores successfully opposed Kennedys application to enter a personal insolv…

Read the full article at: https://www.thetimes.co.uk/article/potato-suppliers-must-pay-costs-despite-winning-court-battle-fhw9mhgsz

SUDBURY — The Ontario government said Wednesday it is committed to French-language programs at Laurentian University and welcomes federal funding to help achieve that goal.

It also disputed claims from Mlanie Joly, federal Minister of Economic Development and Official Languages, who said Tuesday the province didn’t respond to an offer to help.

“We have said from Day 1 that we are happy to work with the federal government to support French language and francophone education in Ontario,” said a statement from Ross Romano, Minister of Colleges and Universities.

“We have worked collaboratively together on the establishment of Universit de l’Ontario franais, one of two independent institutions governed for and by francophones that our gov…

Read the full article at: https://northernontario.ctvnews.ca/ontario-says-it-welcomed-offer-from-federal-government-to-help-save-french-programs-at-laurentian-university-1.5453418

A delivery driver who turned to smuggling cannabis in desperation after racking up a large gambling debt has been given a four-year suspended sentence for drugs possession.

uhammad Qaisar (32), of Glanmire Road, Cork City, a Pakistani national, has no previous convictions except for a matter concerning a residency visa.

Garda Niamh Guilfoyle told Fiona McGowan BL, prosecuting, that she stopped Qaisar in a car on April 15, 2020 at St Olivers Park in Clondalkin, Dublin 22.

Cannabis worth 20,400 was found in several parcels concealed in the car, including in the spare wheel well which Qaisar pointed out to Garda himself.

He was arrested and admitted when interviewed that he had driven from Cork to Dublin in order to collect the drugs and…

Read the full article at: https://www.sundayworld.com/crime/courts/delivery-driver-who-transported-drugs-to-pay-off-gambling-debt-avoids-jail-term-40496566.html

AirAsia X shareholders have approved the Malaysian budget airline’s debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival.

Shareholders of the long-haul affiliate of AirAsia Group approved all resolutions at an extraordinary general meeting, including a rights issue and a share subscription for new investors to raise 500 million ringgit.

AirAsia X last October proposed restructuring its 64.15 billion ringgit ($15.6 billion) debt into a principal amount of 200 million ring…

Read the full article at: http://www.thejakartapost.com/news/2021/06/02/malaysias-airasia-x-gets-shareholder-go-ahead-for-restructuring-plan.html

SUDBURY — The Ontario government said Wednesday it is committed to French-language programs at Laurentian University and welcomes federal funding to help achieve that goal.

It also disputed claims from Mlanie Joly, federal Minister of Economic Development and Official Languages, who said Tuesday the province didn’t respond to an offer to help.

“We have said from Day 1 that we are happy to work with the federal government to support French language and francophone education in Ontario,” said a statement from Ross Romano, Minister of Colleges and Universities.

“We have worked collaboratively together on the establishment of Universit de l’Ontario franais, one of two independent institutions governed for and by francophones that our gov…

Read the full article at: https://northernontario.ctvnews.ca/province-says-it-welcomed-offer-from-federal-government-to-help-save-french-programs-at-laurentian-university-1.5453418

Shares in AirAsias long-haul unit jumped after the Malaysian airline said its investors had approved a restructuring plan that could pave the way for it to resume commercial operations when international borders reopen.

AirAsia Xs stock closed 6.7 per cent higher in Kuala Lumpur on Wednesday, a day after the airline said shareholders had approved resolutions regarding the restructuring with a margin of at least 99.8 per cent. The carrier called the development a major milestone in the corporate restructuring process.

Saddled with RM63.5bn ($15.4bn) of debt, AirAsia X in October unveiled the restructuring plan as a last-ditch attempt to save its business and to cope with severe liquidity constraints. However, the plan could still hit tur…

Read the full article at: https://www.ft.com/content/bb324e40-0f78-40df-b5ba-d051783f1ae9

The American Jobs Plan, which is President Joe Bidens first major infrastructure bill, is gradually shrinking as its passed from one side of the aisle to the other, leaving out major promises Biden made to voters when he was running for president.

Biden promised to cancel $10,000 of debt per student loan borrower as well as cancel all debt for alumni from historically Black colleges and universities in his time as president, according to documents…

Read the full article at: https://www.usforacle.com/2021/06/01/opinion-american-jobs-plan-needs-to-include-student-debt-relief/