A Gold Coast-based company director who defrauded investors in a property unit trust of $2 million has been sentenced to seven-and-a-half years in jail following an ASIC investigation. Continue reading
Insolvency News and Blog
The next financial crisis will be hellish, and it’s on its way
“There is definitely going to be another financial crisis around the corner,” says hedge fund legend Mark Mobius, “because we haven’t solved any of the things that caused the previous crisis.” Continue reading
Melbourne director banned for five years
A Melbourne director has been disqualified from managing corporations for five years following ASIC’s inquiries into his role in five failed companies that had deficiencies of over $26 million. Continue reading
Debt owed to ATO by insolvent entities soars 36% – Taxman’s crackdown continues
The effects of the GFC are still haunting business with debt owed by insolvent companies or individuals rising by more than 35% to a staggering $5.3 billion during the 2010-11 year, according to the latest Australian Taxation Office annual report. Continue reading
EU warns of recession through 2012
The European Commission last night released figures that showed the economic recovery in the region had stopped, with warnings that the region was likely to slip into a recession next year. Continue reading
Europe – the problem – how far will the contagion spread?
INFLATION: it’s a word to strike fear in Germans like few others. Think Weimar Republic, hyperinflation, the rise of nationalism, world war. Continue reading
FREE INSOLVENCY LIBRARY — 13th INSTALMENT
Here is Part 13 of your free Insolvency video library. Continue reading
World on brink of disaster: Bank of England boss
THE world is facing the worst financial crisis since at least the 1930s, ”if not ever”, according to the governor of the Bank of England. Continue reading
More gloom ahead for housing sector
Housing starts are predicted to drop 20 per cent over the year to June 2012, as the sector faces nervousness among buyers and weaker industry conditions.
Investment bank Merrill Lynch believes new home commencements will drop to 134,000 in the year to June 2012, from a peak of 167,000 in the year to June 2011, with a risk they could fall further. Continue reading
Economic crisis as serious as 2008
Europe’s deepening debt crisis poses a threat to the world economy as serious as the 2008 credit crunch, Britain’s prime minister says.In a sombre speech, David Cameron vowed to stick to sharp austerity measures – despite the economy’s meagre growth – and insisted Britain would not help fund “endless bailouts” of its tottering European neighbours. Continue reading
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