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The five per cent deposit scheme for first home buyers rolled out across Australia just over a month ago, but one investor has claimed it could end in disaster.

“My adult son posed a hypothetical question the other day: what happens if someone dies and they have a huge gambling debt?” the woman, identified only as Sharron, wrote in a reader-submitted question.

“Sadly this is the reality for many young men today,” she continued.

“Is the debt something that needs to be paid out of the deceased person’s will? We are fortunate to not have this situation but he knows young men with babies who do!”

Mr…

“My adult son posed a hypothetical question the other day: what happens if someone dies and they have a huge gambling debt?” the woman, identified only as Sharron, wrote in a reader-submitted question.

“Sadly this is the reality for many young men today,” she continued.

“Is the debt something that needs to be paid out of the deceased person’s will? We are fortunate to not have this situation but he knows young men with babies who do!”

Mr Pape’s reply was stunningly direct.

“Sharron, stop what you’re doing right now and go and find your son,” he wrote.

“When the two of you are alone, I want you to ask him…

Australia’s corporate insolvency system is overly complex, costly and difficult to access and must be reviewed, the inquiry into corporate insolvency has found.

The government has been advised to commission a comprehensive and independent review of Australia’s insolvency law, encompassing both corporate and personal insolvency, following an inquiry into corporate insolvency.

The Parliamentary Joint Committee on Corporations and Financial Services inquiry into corporate insolvency handed down its report yesterday, making 28 recommendations in total.

The Committee found that Australia’s insolvency system has failed to keep pace with changes in the Australian and…

The liquidator of Neptune Ventures and Developers Private Limited has asked all creditors and stakeholders to submit their claims within the next month, formally setting in motion the breakup and sale of the company’s assets, including its key property, the Neptune Magnet Mall in Bhandup.

In a notice published on Monday, the newly appointed liquidator, Stress Credit Resolution Private Limited, has set November 7, 2025, as the last date for the submission of claims. This announcement marks the definitive end of the corporate rescue attempt and begins the final chapter for the company, which entered liquidation after a prolonged but unsuccessful insolvency process.

The liquidation order was passed by the National…

The National Company Law Tribunal (NCLT) in New Delhi has simultaneously admitted two separate insolvency pleas against its subsidiary companies over combined defaults of nearly ₹2,772 crore. The tribunal initiated proceedings against Haridwar Highways Project Limited (HHPL) for a default of ₹2,386.51 crore and against Era Infrastructure (India) Ltd. for a default of ₹385.38 crore. The petitions were filed by the National Asset Reconstruction Company Limited (NARCL), India’s ‘bad bank’, which had acquired the massive outstanding loans from a consortium of lenders.

The bench, comprising Judicial Member Shri Manni Sankariah Shanmuga Sundaram and Technical Member Shri Atul Chaturvedi, dismissed last-ditch…

Model ID: a6362c0e-5817-46cb-a161-2edbeed96b17
Sitecore Context Id: a6362c0e-5817-46cb-a161-2edbeed96b17;

There must be more direct assistance for workers seeking to recover unpaid wages after their companies restructure.

Additionally, although the law will allow small businesses to renegotiate contracts that were agreed upon before the COVID-19 pandemic, a limit must be put in place.

These were some of NTUC Assistant Secretary-General Patrick Tay’s calls in Parliament on 3 November 2020.

He was debating the Insolvency, Restructuring and Dissolution (Amendment) Bill and the COVID-19 (Temporary Measures) (Amendment No. 3) Bill.

Mr Tay also urged the House to consider the additional…