Insolvency Guardian Media Centre
Fox News Media said that it was restructuring some of its divisions, with a reduction of its workforce by less than 3%.
As Fox News Media has evolved into a streamlined multi-platform organization, we are realigning several functions and restructuring various divisions in order to position all of our businesses for ongoing success, the network said in a statement.
No on air talent is impacted by the staff reductions.
The changes were made after an assessment of how to streamline various departments, including those which have duplicate functions. In 2017, the network formed a media production group to streamline the Fox News and Fox Business graphics and media production department.
A source with knowledge of the matter said that the c…
Read the full article at: https://deadline.com/2020/09/fox-news-media-trims-staff-amid-business-restructuring-1234577833/
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades.
Now they are slouching further into the corporate world.
“In the corporate world, a zombie is defined as a company which hasnt actually died but is not earning enough cash profit to meet its interest payments.
According to British think tank Onward, one in every five firms in the Old Dart is a zombie and the figure is, well, rising up.
Zombies are bad, according to Onward, causing slower employment growth that could mean over 400,000 fewer jobs created in a recovery that takes over twice as long, and lower productivity leading to GBP41…
Read the full article at: https://bluenotes.anz.com/posts/2020/09/andrew-cornell-column-zombie-corporates?adobe_mc=MCMID=91157366216774564320807860647922863099|MCORGID=67A216D751E567B20A490D4C@AdobeOrg|TS=1600254000
Member Article
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Corporate insolvencies fell to 778 in August 2020 compared to the previous months figure of 961 and are significantly lower than they were in August 2019 (1,369).
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Personal insolvencies fell to 6,359 in total compared to last months figure of 7,330 and are significantly lower than August 2019s figure (8,892).
Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, responds to todays publication of the August corporate and personal insolvency statistics for England and Wales:
The decrease in corporate insolvencies over August was driven by a drop in administrations and compulsory liquidations, while the fall in personal insolvencies is driven by a r…
Read the full article at: https://bdaily.co.uk/articles/2020/09/16/august-personal-and-corporate-insolvency-statistics-r3-response
Often dressed in her police uniform, Rossi exploited her role with the force to persuade locksmiths and council officers to unwittingly assist with her bizarre criminal enterprise.
In January 2017, Rossi attended the offices of Hobson Bay Council, where she induced a council employee to provide personal details of an alleged victim.
Sergeant Rosa RossiCredit:Damjan Janevski
She also accessed the police database LEAP without authorisation, to acquire information about the owner of a Malvern East home in October 2016. A month later, she gained entry to the property by telling an unsuspecting locksmith it was a deceased estate.
She told tenants at a Chadstone house that the owners had been deported, while claiming a Brooklyn property…
Read the full article at: https://www.brisbanetimes.com.au/national/victoria/corrupt-cop-jailed-for-four-years-for-18-month-fraud-spree-20200916-p55w6n.html?ref=rss&utm_medium=rss&utm_source=rss_feed
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission that the judge could not be satisfied that the debt was still owing. But Justice Jacqueline Gleeson on Thursday made the order and ruled that the Commonwealth’s legal costs of $19,739 be paid from the estate of Mr Endresz. In its March application, the Commonwealth said Mr Endresz owed it $11,588,824. This was said to be the balance of a debt order of $18,633,178 made in the ACT Supreme Court in 2014 less $7,044,35…
Read the full article at: https://www.youngwitness.com.au/story/6898672/nsw-man-bankrupted-over-claimed-10m-debt/
Often dressed in her police uniform, Rossi exploited her role with the force to persuade locksmiths and council officers to unwittingly assist with her bizarre criminal enterprise.
In January 2017, Rossi attended the offices of Hobson Bay Council, where she induced a council employee to provide personal details of an alleged victim.
She also accessed the police database LEAP without authorisation, to acquire information about the owner of a Malvern East home in October 2016. A month later, she gained entry to the property by telling an unsuspecting locksmith it was a deceased estate.
Sergeant Rosa RossiCredit:Damjan Janevski
She told tenants at a Chadstone house that the owners had been deported, while claiming a Brooklyn property…
Read the full article at: https://www.theage.com.au/national/victoria/corrupt-cop-jailed-for-four-years-for-18-month-fraud-spree-20200916-p55w6n.html
The Federation of Thai Industries (FTI) plans to ask the Bank of Thailand to extend the debt moratorium scheme, which will end next month, for another two years.
The extension would require businesses to pay 10% of interest payments for six months to alleviate the fear of non-performing loans (NPLs) among financial institutions.
Borrowers should also be charged a normal interest rate, not applying penalties for overdue payments, the FTI said.
The group believes that this measure will keep the NPL rate at a manageable level and at the same time help staggering businesses that cannot afford to pay their debts, said FTI chairman Supant Mongkolsuthree.
He was preparing to pitch the proposal at today’s meeting of the Center for Economic Sit…
Read the full article at: https://www.bangkokpost.com/business/1985999/fti-wants-to-extend-debt-programme
While youve likely considered a car loan or a personal loan at one time or another, odds are that you havent investigated taking out a debt consolidation loan.
Recent research by SocietyOne into attitudes towards debt and credit indicates that 82% of Australians with personal or household debt have not taken out a debt consolidation loan of any kind, meaning that you certainly arent alone if its something youre yet to explore.
What is a debt consolidation loan?
To put it simply, a debt consolidation loan is used as a way to combine several different lines of credit into a single loan.
These loans typically allow you to find a better interest rate, pay a single monthly repayment, and deal with only one creditor instead of several. They …
Read the full article at: https://thenewdaily.com.au/sponsored/2020/09/15/chained-down-by-debt-consolidation-could-be-the-key-to-financial-freedom/
September 15, 2020
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMFs Executive Board. This mission will not result in a Board discussion.
- The COVID-19 pandemics health impact has been well-contained, but it has had a significant impact on economic activity.
- The policy response, including temporary tax relief measures and expanding health and social spending to support poor and vulnerable groups, has been so far successful in containing the economic and social impact of the pandemic.
- Structural reforms to support higher and more inclusive g…
Read the full article at: https://www.imf.org/en/News/Articles/2020/09/15/pr20293-georgia-imf-staff-concludes-virtual-visit
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades.
Now they are slouching further into the corporate world.
“In the corporate world, a zombie is defined as a company which hasnt actually died but is not earning enough cash profit to meet its interest payments.
According to British think tank Onward, one in every five firms in the Old Dart is a zombie and the figure is, well, rising up.
Zombies are bad, according to Onward, causing slower employment growth that could mean over 400,000 fewer jobs created in a recovery that takes over twice as long, and lower productivity leading to GBP41…
Read the full article at: https://bluenotes.anz.com/posts/2020/09/andrew-cornell-column-zombie-corporates?adobe_mc=MCMID=91931573662167745648708078606479228630|MCORGID=67A216D751E567B20A490D4C@AdobeOrg|TS=1600203600
The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out in August 2018. However, since the pandemic struck, new temporary provisions have been added to the act.
The changes introduced in the act are the most significant changes in insolvency law since 2003, when the Enterprise Act legislation was introduced to revamp the administration process.
The changes can be distinguished between those that are permanent and those that are temporary, and which have been introduced in response to the extraordinary consequences of the coronavirus.
PERMANENT PROVISIONS
Moratorium
The m…
Read the full article at: https://www.jdsupra.com/legalnews/uk-corporate-insolvency-and-governance-65913/
THE future of Indigenous entity Bigambul Ltd will be decided at a second meeting of creditors next week.
The entity, which is headquartered in King Scrub, was placed into voluntary administration on August 19 and is in the hands of Mackay Goodwin’s Thyge Trafford-Jones and Domenic Calabretta.
According to minutes of the creditors meeting on August 28, a preliminary review “failed to identify any asset of the company”.
A second meeting of creditors has been set down for September 22.
The meeting will receive a report from Mr Trafford-Jones about the business, property, affairs and financial circumstances o the company and his opinion as to whether the company execute a deed of company arrangement, whether the administration end, or whet…
Read the full article at: https://www.thechronicle.com.au/news/future-of-indigenous-entity-in-administration-to-b/4099593/