Insolvency Guardian Media Centre

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Virgin Australia is keen to spread its wings and return to international flying when travel restrictions ease, with the airline
Australia's biggest insurance company has had a rocky day on the sharemarket, as the collapse of Lex Greensill's finance empire
The Australian share market is continuing its upwards trajectory as a prominent business survey shows confidence is rebounding.At 11:30am AEDT,
Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to
But the drumbeat of concern about GFGs financial health is gaining intensity. The BBC said British trade unions were demanding
Susana Jimenez, lecturer at the Faculty of Medicine and Health Sciences at the Bellvitge Campus. To date, there were almost
Home / Share Market News / Telstra (ASX:TLS) share price and others caught in Greensill insolvency The Telstra Corporation Ltd
Mackay Goodwin also calls for Government to modify and extend JobKeeper for vulnerable industries FOR IMMEDIATE RELEASE NEWS RELEVANCE: All
UA Cinemas, one of Hong Kongs leading movie theater operators, has collapsed. The company said on Monday morning that it
Virgin Australia is keen to spread its wings and return to international flying when travel restrictions ease, with the airline
The Australian private debt continues to offer attractive risk-adjusted returns and remains an asset class offering one of the most
Democrats won Senate approval Saturday of President Joe Bidens $1.9 trillion economic stimulus package after modifying some provisions to assuage

Virgin Australia is keen to spread its wings and return to international flying when travel restrictions ease, with the airline mapping out the first destinations it plans to serve.

Predictably, New Zealand is top of the list although a trans-Tasman travel bubble has already been mooted and delayed several times, with NZ continuing to keep its borders closed to Australia with destinations in Fiji and Indonesia also on the horizon.

We are looking forward to short haul international flights coming back, Virgin Australia CEO Jayne Hrdlicka told NCA NewsWire this month.

It will be one of the first things we do. It will be anywhere where a (Boeing) 737 can fly, so that will include New Zealand, Fiji and Bali.

Prior to the COVID-19 pandemic…

Read the full article at: https://www.executivetraveller.com/news/virgin-australia-international-flights-restart

Australia’s biggest insurance company has had a rocky day on the sharemarket, as the collapse of Lex Greensill’s finance empire continues to ricochet.

After intense speculation over its solvency, administrators have formally been appointed to Greensill Group.

In the UK, Grant Thornton have formally been appointed to the two major entities that trade as Greensill Group, while its Australian parent company is also in voluntary administration with local counterparts.

“Greensill Ca…

Read the full article at: https://www.abc.net.au/news/2021-03-09/greensill-formally-enters-admin-iag-hit/13230454

The Australian share market is continuing its upwards trajectory as a prominent business survey shows confidence is rebounding.

At 11:30am AEDT, the ASX 200 was up 0.6 per cent to 6,783 points.

That is after the benchmark index closed 0.4 per cent higher on Monday.

Stocks were boosted by the local currency trading down at 76.60 US cents.

CBA analysts are predicting the Australian dollar will slump further.

“The risk in the near term is that AUD moves nearer our end-March forecast of 0.76,” they said.

Greensill formally enters administration

In the UK, Grant Thornton have formally been appointed as adminis…

Read the full article at: https://www.abc.net.au/news/2021-03-09/asx-sharemarket-9-march-2020/13228816

Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018.

Alessandro Di Ciommo | NurPhoto | Getty Images

LONDON British financial services firm Greensill Capital has filed for administration, according to a report from the Financial Times.

Greensill’s lawyers reportedly appeared before a U.K. court on Monday saying the company has fallen into “severe financial distress” and that it can no longer pay its debts. Filing for administration in the U.K. aims to help a company pay off its debts and avoid insolvency. The company would be protected from legal action by creditors.

Greensill declined to comment w…

Read the full article at: https://www.cnbc.com/2021/03/08/greensill-capital-has-reportedly-filed-for-administration.html

But the drumbeat of concern about GFGs financial health is gaining intensity. The BBC said British trade unions were demanding a meeting with GFG subsidiary Liberty Steel, the countrys third-largest steelmaker, to seek assurances about the future of steel jobs.

And Libertys CEO, John Ferriman, met Business Secretary Kwasi Kwarteng over the weekend. The British government has previously felt the need to step in when steelmakers falter.

The court documents underscore the unravelling of the previously intense and productive relationship between Greensill and GFG, mirrored in a close personal bond between Mr Greensill and Mr Gupta, which fuelled the breakneck expansion of both companies.

Concerns over the extent of Greensills exposure to Mr…

Read the full article at: https://www.afr.com/companies/financial-services/greensill-files-for-insolvency-raises-gupta-concerns-20210309-p578wx


Susana Jimenez, lecturer at the Faculty of Medicine and Health Sciences at the Bellvitge Campus.

Susana Jimenez, lecturer at the Faculty of Medicine and Health Sciences at the Bellvitge Campus.

To date, there were almost no studies comparing the gender features of gambling disorder and its evolution into more severe clinical conditions. Now, two articles published in Scientific Reports and Neuropsychiatry determine that men and women have different profiles in gambling-related disorders, and in their evolution towards more serious states.

The studies were led by Susana Jimnez, lecturer at the Department of Clinical Sciences ofthe UB and head of the Unit of Pathological Gambling at University Hospital of Bellvitge, and Roser Granero, lecturer at the UAB.

The highest levels of gambling addiction among women are associated with…

Read the full article at: https://www.miragenews.com/men-and-women-show-different-traits-in-gambling-524798/

The Telstra Corporation Ltd (ASX: TLS) share price, along with numerous other Australian companies, will be watched with a close eye at the moment. This comes as the Greensill Capital collapse ripples through to its clients.

What is Greensill Capital and what happened?

Founded in 2011 and headquartered in London with offices globally, Greensill Capital is the supply-chain financing brainchild of Lex Greensill. The firm tweaked an old concept called factoring. This is where a supplier fast tracks its receivable payments through a financier. The financier later recovers the payment from the larger corporation.

The tweak to the model meant th…

Read the full article at: https://www.fool.com.au/2021/03/08/telstra-asx-tls-share-price-and-others-caught-in-greensill-insolvency/

Mackay Goodwin also calls for Government to modify and extend JobKeeper for vulnerable industries

FOR IMMEDIATE RELEASE

NEWS RELEVANCE: All Business; All SME; Travel; Tourism; Hospitality; JobKeeper; Government

When Job Keeper ends on 28 March, many businesses, especially those associated with travel and tourism, may find themselves financially struggling to meet their financial commitments. Leading restructuring adviser Mackay Goodwin is urging all businesses in crisis to seek help before the 28 March deadline, but also calls for the government to make special consideration for industries unable to resume normal business operations (travel, tourism and associated sectors), especially in light of the recently announced delay in opening…

Read the full article at: https://prwire.com.au/pr/95081/restructuring-adviser-urgently-calls-for-struggling-businesses-to-seek-help-before-jobkeeper-ends

UA Cinemas, one of Hong Kongs leading movie theater operators, has collapsed. The company said on Monday morning that it had applied for voluntary liquidation.

UA Cinemas has always been committed to providing the highest quality of cinematic entertainment to all audiences in Hong Kong since it was founded in 1985 by Mr. Ira Kaye. However, we regret to announce that UA Cinemas will cease business with immediate effect from 8 March 2021 due to unavoidable and devastating pressure faced by our operators since the beginning of the coronavirus pandemic. We would like to thank our colleagues, customers and business partners for their support with UA Cinemas over the past 36 years. Thank you everyone for taking the journey with us. To comply …

Read the full article at: https://variety.com/2021/biz/asia/ua-cinemas-hong-kong-chain-collapses-1234924523/

Virgin Australia is keen to spread its wings and return to international flying when travel restrictions ease, with the airline mapping out the first destinations it plans to serve.

Predictably, New Zealand is top of the list although a trans-Tasman travel bubble has already been mooted and delayed several times, with NZ continuing to keep its borders closed to Australia with destinations in Fiji and Indonesia also on the horizon.

We are looking forward to short haul international flights coming back, Virgin Australia CEO Jayne Hrdlicka told NCA NewsWire this month.

It will be one of the first things we do. It will be anywhere where a (Boeing) 737 can fly, so that will include New Zealand, Fiji and Bali.

Prior to the COVID-19 pandemic…

Read the full article at: https://www.executivetraveller.com/news/virgin-australia-international-flying-restart

The Australian private debt continues to offer attractive risk-adjusted returns and remains an asset class offering one of the most attractive risk-adjusted return profiles, according to Evergreen Ratings.

Evergreens chief executive, Angela Ashton, said with Australia Prudential Regulation Authority (APRA)-regulated authorised deposit-taking institutions (ADIs) facing more onerous macro-prudential guidelines, the domestic market saw more borrowers seeking funds outside traditional banking sources.

The market dynamics are supportive of attractive risk-adjusted loan pricing which presents an opportunity for a capital provider to earn excess returns, Ashton said.

Related News:

Interest rates are at historical lows and stock dividends f…

Read the full article at: https://www.moneymanagement.com.au/news/funds-management/private-debt-continues-offer-attractive-returns

Democrats won Senate approval Saturday of President Joe Bidens $1.9 trillion economic stimulus package after modifying some provisions to assuage party moderates but preserving historic debt relief for minority farmers that Republicans tried to strip from the bill.

Because of a number of changes made by the Senate, which passed the bill 50-49 after an all-night session that left many senators struggling to stay awake Saturday morning, the legislation must go to back to the House for a final approval before it can go to Biden for his signature.Sen. Dan Sullivan, R-Alaska, missed the votes because of a funeral in his home state.

The bill,which contains $22.7 billion in agriculture and nutrition assistance provisions, including $3.6 billio…

Read the full article at: https://www.agri-pulse.com/articles/15468-dems-ram-19t-stimulus-through-senate-minority-farmer-debt-relief-survives

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