Rowan Kearns, director and controlling shareholder of Forestlands NZ Ltd. Shareholders say Kearns has cut contact with them except for updates on his website. (File photo)
Investors in Forestlands NZ Ltd say they have little hope of receiving their promised returns as the company goes into liquidation.
Forestlands put up no contest when the Financial Markets Authority (FMA) sought the liquidation of 18 of its subsidiary companies, the latest development in an ongoing series of troubles for the company. The application was heard in the High Court at Nelson on Thursday.
Four…
Read the full article at: https://www.stuff.co.nz/business/money/106864413/forestlands-has-gone-into-liquidation-owing-millions-to-investors
Scores of debt-ridden young people in Birmingham are declaring themselves insolvent before they reach their mid-twenties.
New data shows a total of 1,512 people in the city either went bankrupt, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017.
Of those, 88 were aged under 25.
Seventy of those youngsters took on an IVA, while 13 accepted a DRO. Five were declared bankrupt.
Across Birmingham, one in every 562 adults of all ages fell into individual insolvency in 2017.
The national average for England and Wales as a whole was one in 469.
Stoke on Trent had the highest rate, with one insolvency for every 223 adults living in the city.
In some parts of London and …
Read the full article at: https://www.birminghammail.co.uk/news/midlands-news/scores-debt-ridden-brummies-going-15115431
Sigma Healthcare shares have slumped after the pharmaceuticals supplier revealed a slump of more than 50 per cent in first-half profit to $13.4 million, partly due to restructuring costs following the loss of its contract to supply Chemist Warehouse in July.
Sigma, which owns pharmacy brands Amcal, Guardian, Discount Drug Store, and Chemist King, says net profit for the six months to July 31 fell 51.8 per cent after $6.1 million of restructuring costs.
A two per cent fall in revenue to $1.96 billion was attributed to falling sales in Hepatitis C medication, and the continued impact of the rescheduling of codeine as a prescription-only drug.
Pricing adjustments to the Pharmaceutical Benefits Scheme in February, which has generally made suppl…
Read the full article at: https://www.news.com.au/finance/business/breaking-news/sigma-hy-profit-more-than-halves-to-134m/news-story/59334cca231716c84d5dfb8a330de33f
There are two ways to find out whether a debt consolidation loan works for you: math and your own behavior.
If you have a lot of unsecured debt such as student loans or credit cards, debt repayment can take up a significant chunk of your monthly budget. In Canada, debt repayments occupy such a large chunk of the average persons monthly income, that over half of Canadians have less than $200 to spare after all of their expenses. That can quickly be eaten up as rising interest rates could cost up to another $120 per month between credit cards, student loans, lines of credit, and mortgage or car payments.
High interest payments can make repaying your debt a frustrating process. Every month, you…
Read the full article at: https://goodmenproject.com/guy-talk/will-a-debt-consolidation-loan-save-you-money/
- John Studzinski, one of the most prominent figures in global finance, is taking up a senior role at Pimco.
- Pimco, founded by the investing legend Bill Gross, is one of the worlds biggest fixed-income-focused investment companies.
- Studzinski was previously a senior figure at the private-equity giant Blackstone, and he was crucial in the restructuring of the insurer AIG during the financial crisis.
John Studzinski, one of the most prominent figures in global finance, has been appointed as the managing director of Pimco, the fixed-income-focused investment giant founded by the legendary investor Bill Gross.
Pimco announced on Wednesday that Studzinski, often known by friends as Stu…
Read the full article at: https://www.businessinsider.com.au/john-studzinski-joins-pimco-2018-9
For three days of the Sydney Test against India in 2012, Michael Clarke held court with his home crowd and a nation of cricket lovers. Millions around the country – and many more on the sub-continent – watched as the Australian captain hit an unbeaten triple century – the defining innings of his career.
It should have been a sponsor’s dream, except Clarke did not have one. His bat, which had become the most watched advertising board in the country, did not bear any sponsor’s stickers during his marathon innings.
Clarke had ordered for them to be removed as his contract was expiring.
For Kunal Sharma this was a moment to be seized and he pounced. The Wollongong-based founder of the Spartan Sports empire signed Clarke to a six-figure contra…
Read the full article at: http://www.illawarramercury.com.au/story/5629256/spartan-sports-empire-under-financial-pressure/
One of the issues that has not yet caught the attention of the government or the IBBI is the treatment of MSMEs under the resolution plan.The Insolvency and Bankruptcy Code (IBC) is in its second year of operation; it has, at best, been a roller-coaster ride where the application of the said law has opened loads of issues that have been noted and acted upon by the Insolvency and Bankruptcy Board of India (IBBI) and/or the government.
One of the issues that has not yet caught the attention of the government or the IBBI is the treatment of MSMEs under the resolution plan. As the law currently stands, there is no difference that has been accorded to MSMEs and other operational creditors, and as such, these operational credit…
Read the full article at: https://www.financialexpress.com/opinion/are-msmes-hampered-by-insolvency-and-bankruptcy-code/1303960/
For three days of the Sydney Test against India in 2012, Michael Clarke held court with his home crowd and a nation of cricket lovers. Millions around the country – and many more on the sub-continent – watched as the Australian captain hit an unbeaten triple century – the defining innings of his career.
It should have been a sponsor’s dream, except Clarke did not have one. His bat, which had become the most watched advertising board in the country, did not bear any sponsor’s stickers during his marathon innings.
Clarke had ordered for them to be removed as his contract was expiring.
For Kunal Sharma this was a moment to be seized and he pounced. The Wollongong-based founder of the Spartan Sports empire signed Clarke to a six-figure contra…
Read the full article at: https://www.illawarramercury.com.au/story/5629256/spartan-sports-empire-under-financial-pressure/?cs=12
photo: Gibson Brands, Inc.
Gibson Brands, Inc. declared bankruptcy in May, but the company is soldiering on with a brand-new electric guitar line-up.
Dont expect to find fancy add-ons or tech-related doodads in this simplified range. And thats on purpose.
Just recently, Gibson asked a federal bankruptcy judge to absolve the company of a $60 million debt from Tronical GmBH, a German maker of automatic tuning pegs. That idea flopped for Gibson, and the company is dialing back toward its roots.
Earlier this year, we detailed Gibsons harrowing crash into bankruptcy. But a Chapter 11 filing is designed to protect ongoing operations, and hopefully help the company get back on its feet again.
But those looking for cheaper price tags sho…
Read the full article at: https://www.digitalmusicnews.com/2018/09/05/bankrupt-gibson-2019-electric-guitar-lineup/
Credit: Getty Royalty Free
If you have children, back to school is likely to be on your mind and possibly how you’ll pay for future college bills without leaving them deep in debt. So what can you do? Depending on their stage of life, here are some ways to reduce the burden of student loans on your children:
Young children: Save
Assuming you have no high-interest debt, an adequate emergency fund, and are on track for retirement, it can’t hurt to start putting some savings away, especially if your child is still young enough to benefit from years of savings and investment earnings. You can use this college savings calculator to estimate how much to save each month. Then check out this breakdown of t…
Read the full article at: https://www.forbes.com/sites/financialfinesse/2018/09/05/how-to-help-your-children-minimize-future-student-loan-debt/