Insolvency Guardian Media Centre
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Summary
Household and business borrowers continue to display a high level of resilience overall, with many
well placed to weather a downturn should it occur. It is important that lending standards remain
sound so that this resilience is not undermined.
- Cash flow pressures eased a little over the past year as inflation and interest rates
have declined. The share of mortgagors in severe financial stress – where
mortgage payments and spending on essentials exceeds their income – remains small and has
declined further. Ongoing strength in the labour market and established housing market has helped
to…
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Until earlier this year, he had been living in the “Bang and Olufsen” mansion in Point Piper, paying up to $20,000 a week in rent.
More recently, Adgemis was living in a Bondi apartment owned by fund manager Will Vicars. A Rose Bay property, purchased with his mother Rose for $4.45 million in 2018, was repossessed.
Adgemis had been exploring a personal insolvency agreement, an arrangement that would have warded off bankruptcy and paid a small amount back to some creditors.
In late August, the Inspector-General in bankruptcy intervened, voicing concerns that the trustees running the process had not adequately investigated Adgemis’ assets or provided enough detail to creditors.
The Inspector-General had not found any breaches but issued…
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Insolvency professionals, valuers need very effective self-regulating mechanism: Official Press Trust of India
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Fault lines, faux pas, fixes dailypioneer.com
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Argentina’s Milei says US aid talks include debt purchases, profit-sharing MSN
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Kitchen Things tipped into liquidation as creditor claims swell past $23m Thepost
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REVEALED: Latest business liquidations in Mount Alexander Herald Sun