Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
{"theme":"dark","direction":"horizontal","showArrows":true,"splitTitle":true,"playerOptions":{"captions":true,"popupOnScroll":true,"subscribe":{"title":"Subscribe","url":"https://www.youtube.com/channel/UCKvc0WUB65GCvOTgPVJ9yRA?sub_confirmation=1","visibleOnMain":true,"visibleOnPopup":true}},"active":{"index":0,"start":52,"end":null,"thumb":"https://d1ic4altzx8ueg.cloudfront.net/finder-au/wp-uploads/2018/10/Fred-Variant-9.jpg","thumbAnimation":"kenburns-top-right","heading":{"small":"WATCH","large":"Anthony Pompliano discusses the latest investment trends, strategy and more."}},"yt":{"method":"playlistItems","params":{"playlistId":"PLUrt4pAH4g29Uw8QifHtSvvdWuFtDmz6V","type"...Read the full article at: https://www.finder.com.au/bitfinex-is-facing-a-new-set-of-insolvency-rumours
Failed online travel agency Bestjet has gone into liquidation after its $10 million collapse left thousands of customers out of pocket.
Bestjet, and its subsidiaries Wynyard Travel and Brooklyn Travel, were placed into administration on December 18.
At a second meeting of creditors in Brisbane this morning, it was resolved to appoint Nigel Markey and Bradley Hellen of Pilot Partners as Bestjet liquidators.
Creditors also resolved to form a committee of creditors to consult with the liquidators.
Read more 9Finance coverage of the Bestjet collapse here.
According to creditors who attended the meeting, Mr M…
Read the full article at: https://finance.nine.com.au/2019/01/31/11/30/bestjet-news-australia-second-creditors-meeting
Beauty business Napolean Perdis has appointed administrators, becoming the second national retailerthis month to fall victim to difficult market conditions.
Simon Cathro, Chris Cook and Ivan Glavas of Worrells Solvency Accountants were appointed as administrators of the business on Thursday.
All 56 of thecompanys stores will remain closed for stocktake today before re-opening tomorrow as a sale process is undertaken.
The administrators have so far been unable to confirm the number of employees working for the business.
The eponymous brand was started by Australian makeup artist Napoleon Perdis in 1995 with an initial concept store in Sydney which expanded out of a makeup academy.
It grew to international prominence, particularly in th…
Read the full article at: https://www.smartcompany.com.au/industries/retail/napoleon-perdis-collapsed/
NEW YORK, Jan. 30, 2019 (GLOBE NEWSWIRE) — The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Danske Bank A/S (OTCMKTS: DNKEY)
Class Period: Purchasers of American Depositary Receipts between January 9, 2014 and October 23, 2018
Lead Plaintiff Deadline: March 11, 2019
Throughout the class period, Danske Bank A/S allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) Danske Banks Estonian branch was facilitating money laundering through at least March 2016; (ii) that a whistleblower had …
Read the full article at: http://www.globenewswire.com/news-release/2019/01/31/1708005/0/en/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-DNKEY-YRIV-ALKS-and-MKL.html
Like many people with debt, you might not know how much money you actually owe or how long it will take to pay off. A debt tracker can help you learn exactly what youre dealing with and create a plan that works.
What is a debt tracker?
A debt tracker is a system for monitoring debt. It can be a basic notebook or sophisticated tool, such as an app, spreadsheet or calculator. Using a debt tracker can be key to paying off debt.
GET OUT OF DEBT FASTER WITH NERDWALLET
Well help you stay on top of upcoming payments and find a strategy to ditch your debt.
The debt tracker you choose should include several key pieces of information:
- Account names. These are the lenders to whom you owe money. You might pay your credit c…
Read the full article at: https://www.nerdwallet.com/blog/finance/debt-tracker/
In total 3,156 companies within the construction sector were declared insolventin 2018, up 13% from 2017, according to solicitor Nocklods. It is the highest level of insolvencies recorded since 2015.
While the research shows strong demand from first time buyers has supported house builders, civil engineering businesses were deemed to be struggling.
Sixty civil engineering businesses specialising in the construction of roads, railways and utilities became insolvent in 2018, a 25% increase on 2017 when 48 such business became insolvent, according to the research.
The report identifies the knock-on effect of Carillions collapse, and major infrastructure projects, such as Crossrail, nearing completion as causes of the down turn.
Nockolds hea…
Read the full article at: https://www.newcivilengineer.com/latest/civil-engineering-firms-hit-hard-as-construction-insolvencies-soar/10039454.article
The Australian grown cosmetics empire Napoleon Perdis Group has gone into voluntary administration putting jobs and 56 local stores at risk.
Company directors had been trying to find a buyer for months.
Administrators Simon Cathro, Chris Cook, and Ivan Glavas of Worrells Solvency Accountants will now consider a restructure or pursue the sale option while the business continues to trade.
![]()
Liverpool. 14.11.2012. Photo: Wesley Lonergan. Napoleon Perdis will make a visit at his store in liverpool Westfields to launch his new holiday collection.Wesley Lonergan WLO
AAP
Read the full article at: https://www.afr.com/business/retail/napoleon-perdis-group-goes-into-voluntary-administration-20190131-h1ap2h
Youve probably seen the advertisements for services that promise to help get you out of crippling debt and bring an end to the nightmare of frightening calls and bankruptcy threats.
The reality is that almost anyone can start one of these debt management firms, with little-to-no financial services experience and no regulatory oversight.
And in many cases, they leave already vulnerable people in much more debt and staring down the barrel of insolvency.
Consumer Action Law Centre boss Gerard Brody said these so-called debt vultures make grand promises that they cant possibly meet.
The promise of fixing your debt worries and getting you back on track just doesnt live up to reality in our experience, Mr Brody said.
The fact is they can charge hid…
Read the full article at: https://www.news.com.au/finance/debt-vultures-dodgy-unregulated-recovery-services-preying-on-broke-australians/news-story/f440f6226488163c693961b8f4fc4c96
The Australian Financial Security Authority (AFSA) released regional personal insolvency statistics for the December quarter 2018.
New personal insolvencies fell in most capital cities in the December quarter 2018 compared to the previous quarter. The exceptions were Greater Darwin and Greater Hobart.
December quarter 2018 regional personal insolvencies state by state
The Greater Sydney regions with the highest numbers of debtors entering personal insolvency were Campbelltown (NSW) (78), Wyong (70) and Penrith (63). In the rest of New South Wales, they were Newcastle (50), Wagga Wagga (37) and Tamworth Gunnedah (35).
The Greater Melbourne regions with the highest numbers of debtors entering personal insolvency were Wyndham (66…
Read the full article at: https://www.miragenews.com/personal-insolvencies-fall-in-most-capital-cities-in-december-quarter-2018/
{“theme”:”dark”,”direction”:”horizontal”,”showArrows”:true,”splitTitle”:true,”playerOptions”:{“captions”:true,”popupOnScroll”:true,”subscribe”:{“title”:”Subscribe”,”url”:”https://www.youtube.com/channel/UCKvc0WUB65GCvOTgPVJ9yRA?sub_confirmation=1″,”visibleOnMain”:true,”visibleOnPopup”:true}},”active”:{“index”:0,”start”:52,”end”:null,”thumb”:”https://d1ic4altzx8ueg.cloudfront.net/finder-au/wp-uploads/2018/10/Fred-Variant-9.jpg”,”thumbAnimation”:”kenburns-top-right”,”heading”:{“small”:”WATCH”,”large”:”Anthony Pompliano discusses the latest investment trends, strategy and more.
“}},”yt”:{“method”:”playlistItems”,”params”:{“playlistId”:”PLUrt4pAH4g29Uw8QifHtSvvdWuFtDmz6V”,”type”…Read the full article at: https://www.finder.com.au/bitfinex-is-facing-a-new-set-of-insolvency-rumours
NEW YORK, Jan. 30, 2019 (GLOBE NEWSWIRE) — The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Danske Bank A/S (OTCMKTS: DNKEY)
Class Period: Purchasers of American Depositary Receipts between January 9, 2014 and October 23, 2018
Lead Plaintiff Deadline: March 11, 2019Throughout the class period, Danske Bank A/S allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) Danske Banks Estonian branch was facilitating money laundering through at least March 2016; (ii) that a whistleblower had …
Read the full article at: https://globenewswire.com/news-release/2019/01/31/1708005/0/en/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-DNKEY-YRIV-ALKS-and-MKL.html
A consultant in restructuring and insolvency, Mr Felix E. Addo, has been appointed advisor to the National Investment Bank (NIB) to oversee the restructuring of the state-owned lender.
The Bank of Ghana (BoG) announced the appointment of Mr Addo, who is the President of the Ghana Association of Restructuring and Insolvency Advisors (GARIA), in a press statement copied to the GRAPHIC BUSINESS.
The NIB is part of five indigenous banks that are benefiting from the Ghana Amalgamated Trust (GAT) arrangement.
It was given an advisor on January 4, 2019.
BoGs January 25, 2019 statement said Dr Addo was expected to help restructure NIB through governance and management reforms and streamline its business model to help refocus it as…
Read the full article at: https://www.businessghana.com/site/news/business/181069/Felix-Addo-leads-restructuring-process-of-NIB
SAP employees in Australia are facing an uncertain future with their employment after the business software giant announced it is cutting 4,400 jobs worldwide as part of its restructuring.
In its quarterly markets statement, SAP revealed plans to reduce its global workforce as the company transitions from a traditional software delivery to a more cloud-based model.
SAP will execute a company-wide restructuring program to further simplify company structures and processes and to ensure its organisational setup, skills set, and resource allocation continue to meet evolving customer demand, the company said.
Restructuring expenses are projected to be 800m to 950m (…
Read the full article at: https://www.hcamag.com/hr-news/tech-giant-plans-massive-restructure-259816.aspx
