Insolvency Guardian Media Centre
ADMINISTRATORS of a Cairns medical company that owes creditors hundreds of thousands of dollars are investigating whether the company may have traded while insolvent.
Dial-A-Doctor Cairns Pty Ltd, which provides a home visit healthcare service that bulk-bills patients in Cairns and Perth, was placed in voluntary administration on January 11.
It is still being operated in both cities, by another company within the Dial-A-Doctor group, which is not in administration.
An ASIC report prepared in February by administrators SV Partners, stated the company owed its unsecured creditors $998,069, statutory creditors $893,485, and employees $269,922.
The report states that the firm attributed the insolvency of the company to a change in government reg…
Read the full article at: https://www.cairnspost.com.au/news/cairns/doortodoor-gp-service-revealed-to-owe-hundreds-of-thousands-of-dollars-to-creditors/news-story/02b1b8a8b06ca11f9a9e0115f8159f1b
The taxman is being pushed up the pecking order when a company goes bust, to the irritation of other creditors. It is a short-sighted cash grab, says R3, the trade body for restructuring specialists and liquidators that decide who gets what when a company fails. The government hasnt thought through the total impact on lending to small businesses, it says.
You can see why banks might protest. From next April, HM Revenue & Customs claims will rank higher when a company is wound up.
As it stands now, creditors mostly banks that have lent money against specific assets such as warehouses or machinery still get first dibs on payouts. Next come the bills of the insolvency practitioners themselves. Whatever is left in the pot is divvie…
Read the full article at: https://www.ft.com/content/d22f46c0-66af-11e9-9adc-98bf1d35a056
Back in July 2005, the G8 summit at the Gleneagles hotel in Scotland announced a package of aid and debt relief for the worlds poorest countries. The event marked the high point of international development cooperation and was supposed to put the finances of low-income nations on a permanent sustainable footing.
For a while, optimism seemed well founded. Public debt for those countries that qualified for help dropped from an average of 100% of their annual income in the early 2000s to just over 30% by 2013 freeing up resources to spend on health, education and infrastructure projects.
Now warning signs are flashing that another debt crisis is approaching, with concerns being raised not only by development campaign groups but by the Int…
Read the full article at: https://www.theguardian.com/business/2019/apr/28/g20-must-heed-global-debt-warnings-to-stave-off-another-crisis
Below is a list of the top and leading Bankruptcy Lawyers in Sydney. To help you find the best Bankruptcy Lawyers located near you in Sydney, we put together our own list based on this rating points list.
This article is updated every 3-4 months.
Sydneys Best Bankruptcy Lawyers:
Here are the top Bankruptcy Lawyers in Sydney:
- Richard Watson Watson & Watson Solicitors
- Alison Drayton Drayton Sher Lawyers
- Derek Ziman Derek Ziman
Are you one of them? Let us create a full business page,click here.
If you are a Bankruptcy Lawyer or you know other Bankruptcy Lawyers or professionals in Sydney that should be on this list, please submit your details hereand we will review your submission.
Watson & …
Read the full article at: https://bestinau.com.au/bankruptcy-lawyers-sydney/
Earlier in April, Ms Ellery removed her name from the Australian company, changing it from Ellery Land to a catchy-sounding ACN 124 374 358 Pty Ltd, the Australian company number.
The brand hosted a “mega sale” at Paddington Town Hall this month with up to 90 per cent off never-before-seen pieces.
Renowned for its exaggerated silhouettes, 70s-inspired tailoring and innovative use of textiles, Ellery Land is understood to have taken an unsuccessful foray into denim and footwear, leaving the company at a significant loss.
The closure of the once successful brand is the latest in a long line of Australian fashion brands that have entered into voluntary administration over the past few years. Ellery collections have since been stocked in a numb…
Read the full article at: https://www.smh.com.au/entertainment/celebrity/ellery-staff-left-high-and-dry-after-abrupt-closure-in-australia-20190425-p51h09.html
Yes, interest rates are low. But that doesnt mean debt doesnt matter.
By William Gale,
byWilliam Gale
Despite a strong economy, the U.S. budget deficit recently rose by nearly40percent year over year, largely because of the tax cuts passed in 2017 and the spending deal approved in 2018. Federal debt the accumulation of past deficits reached itshighest level ever relative to the economy, with the exception of a few years around World War II. And thats before financial shortfalls for Social Security and Medicare occur and send debt to unprecedented levels. Some conservatives warn of a comingdebt crisis, whileleading
liberal economists argue that we can ignore deficits and debt at this time. Several myths are muddling the …
Read the full article at: https://www.washingtonpost.com/outlook/five-myths/five-myths-about-federal-debt/2019/04/26/28d8e78c-66d4-11e9-82ba-fcfeff232e8f_story.html
New Delhi: Resolution plans under IBC have yielded 200 per cent of liquidation value for creditors in addition to rescuing viable firms, IBBI Chairperson M S Sahoo has said.
“They are realising, on an average, 45 per cent of their claims through resolutions plans under the Corporate Insolvency Resolution Process (CIRP), which takes on average 300 days and entails a cost on average of 0.5 per cent.
This is significantly better as compared to the previous regime which yielded a recovery of 25 per cent for creditors through a process which took about five years and entailed a cost of 9 per cent,” Sahoo was quoted as saying in a Ficci statement.
Addressing a conference on Insolvency and Bankruptcy Code (IBC) at Hong Kong on Thursday, h…
Read the full article at: https://www.thehansindia.com/business/ibc-resolution-plans-yielding-200-of-liquidation-value-524468
Gambling is considered as adult entertainment; however, there is no denying that it can be addictive. There is an increasing number of those suffering from gambling addiction. in the US and also in many other countries across the globe.
While gambling is regulated in the US the number of gambling addicts is on the rise. Studies estimate that between 1-3 percent of adults in the US are directly or indirectly affected by gambling addiction.
The extent of how prevalent gambling is in the US can be estimated from the fact that Americans lose over $100 billion every year in gambling.
Gambling addiction is also a health issue, and more and more governments are now changing their policies towards treating compulsive gamblin…
Read the full article at: https://casino.buzz/did-you-know-which-us-states-are-most-addicted-to-gambling-6568/
Personal insolvencies totalled 12,779 from 10,602 in 2017-18. Estimates for 2018-19 are provisional until final figures are published on 24 July 2019.
Most of the increase was down to protected trust deeds (PTDs), which increased by 32.9% on the previous year, reaching 7,917 compared to 5,958 in 2017-18.
Overall, the number of bankruptcies and PTDs rose for the third consecutive year but remain below levels seen between 2006-07 and 2013-14.
In 2018-19, there were 2,544 debt payment programmes (DPPs) approved under the debt arrangement scheme (DAS), 226 more than a year earlier, an increase of 9.7%. In 2018-19, 37.1m was repaid from debtors under DAS compared with 37.6m in 2017-18.
DAS allows those in the scheme the opportunity to repay t…
Read the full article at: https://www.accountancydaily.co/personal-and-corporate-scottish-insolvency-rates-climb
Subject: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) read with Para 16(1) & (g) of Schedule III of LOOR – Results of Voting by members of Committee of Creditors.
Dear Sir/Madam,
Results of voting by the members of Committee of Creditors.
In compliance of Para 16 (f) of part A of Schedule III and Regulations 30 of SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), we enclose herewith copy of results of voting by the members of Committee of Creditors (CoC) subsequent to its meeting held on 25.04.2019. The same are self-explanatory.
You are requested to take the above information on record.
Sd/-
Ravindra Chaturvedi
(IRP)
Excel Glasses Ltd.
Pdf Link:…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/excel-glasses-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article26951519.ece
Disclosure under Regulation 30(2) read with Schedule III of Securities and Exchange Board of India (LODR) Regulations, 2015 – Post – facto Outcome of the Second Meeting of Committee of Creditors of Punj Lloyd Limited
Dear Sir/Madam,
Pursuant to Regulation 30 (2) of Securities and Exchange Board Of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of Sub Clause 16 (g) of Clause A of Part A of Schedule III of SEBI (LODR), we wish to inform you about the major outcome of the Second Meeting of Committee of Creditors of Punj Lloyd Limited (Company) held on April 18, 2019 in terms of Regulation 19 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for C…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/punj-lloyd-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article26954515.ece
NEW DELHI: Resolution plans under IBC have yielded 200% of liquidation value for creditors in addition to rescuing viable firms, IBBI Chairperson M S Sahoo has said.
“They are realising, on an average, 45 per cent of their claims through resolutions plans under the Corporate Insolvency Resolution Process (CIRP), which takes on average 300 days and entails a cost on average of 0.5%.
“This is significantly better as compared to the previous regime which yielded a recovery of 25% for creditors through a process which took about five years and entailed a cost of 9%,” Sahoo was quoted as saying in a Ficci statement.
Addressing a conference on Insolvency and Bankruptcy Code (IBC) at Hong Kong on Thursday, he observed that “in addition to rescu…
Read the full article at: https://www.livemint.com/news/india/resolution-plans-under-ibc-have-yielded-200-of-liquidation-value-ibbi-chairperson-1556275366738.html