Andrew Leigh, Assistant Minister for Productivity, Competition, Charities and Treasury, has underscored the importance of Australia’s insolvency system in supporting productivity.

In a speech to be delivered at the Australian Financial Security Authority (AFSA) Summit on Tuesday (18 November) and seen by Accounting Times, Andrew Leigh underscored the importance of a robust and trustworthy insolvency system for boosting productivity.

A robust insolvency system that handled bankruptcies smoothly and ensured creditors got a fair deal would incentivise more Australians to take business risks, which in turn could help resuscitate the country’s poor productivity, Leigh…

The National Company Law Tribunal (NCLT) at Ahmedabad has rejected a plea filed by Dysetuff Industries Ltd seeking directions to convene a special meeting of the Committee of Creditors (CoC) to reopen the Expression of Interest (EOI) process in the insolvency of Sebacic India Ltd, holding that Corporate Insolvency Resolution Process (CIRP) timelines cannot be relaxed once they have expired.

Dysetuff Industries, which described itself as a prospective resolution applicant, had approached the tribunal after the EOI process had closed.

In an order dated November 6, 2025, a bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma refused the plea observing that a late entry would disrupt the time-bound Corporate Insolvency…

A victim of NextGen Financial Group has received a payment from the CSLR after the company went into liquidation rather than pay a $270,000 determination from the Australian Financial Complaints Authority (AFCA).

In August 2016, WJ & V Drakoulis Super Pty Ltd (as trustee for the WJ & V Drakoulis Super Fund) received personal advice to establish an SMSF to purchase a residential investment property. However, there was a delay in the settlement of the investment property.

In the interim, the $175,000 that had been put aside for the property purchase was invested into Fund I for a one-year term, which meant the property purchase was unable to be completed.

The trustee complained to AFCA, and NextGen was ordered to pay $270,000 for…

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The British Red Cross support line provides support in more than 200…

FINANCE HELP

MoneyHelper

MoneyHelper brings together the support and services of three government-backed financial guidance providers:

The Money Advice Service, The Pensions Advisory Service and Pension Wise.

Webchat available

Phone 0800 138 7777

Visit the MoneyHelper website, external.

National Debtline

National Debtline offers free, impartial, debt advice.

Phone: 0808 808 4000

Visit the National Debtline website, external

StepChange Debt Charity

StepChange Debt Charity helps people in financial difficulty by providing free, confidential, independent and realistic debt advice.

Helpline: 0800 138 1111

Visit the StepChange Debt Charity website, external.

HARDSHIP

The British Red Cross

The British Red Cross support line provides support in more than 200…

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DAKAR, Dec 18 (Reuters) – Gabon is planning to introduce a new housing tax in January to finance the Central African oil-producing country’s needs as its debt continues to rise.

The country is facing an acute squeeze on liquidity that has left it increasingly reliant on regional capital markets.

Authorities are working on a tax that will be paid monthly by an owner of a dwelling or a tenant, special adviser Marie-Noelle Ada Meyo said on the Gabon presidency’s social media.

Gabon’s treasury will use the funds to improve public lighting, road maintenance and city cleanliness, Ada Meyo said.

The contribution will vary depending on the area between 1,000 ($1.80) and 30,000 CFA francs…

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Facebook App: Open links in External Browser

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