Latest news with #administrators
ABC News
25-06-2025
- Business
- ABC News
Staff, suppliers of shuttered bakery group All Are Welcome may not see entitlements as calls for super reform continue
Popular hospitality group All Are Welcome owes suppliers thousands of dollars, with question marks over whether this will be paid, after the business closed its doors this month. Tim Williams's business had been supplying the three bakeries in Melbourne with coffee beans and says he is owed $8,000. "We felt fairly deceived going into a new supplier arrangement … there's people who are in the hospitality industry choosing to operate like this, it's not a particularly good reflection on those of us who would prefer to act a bit more professionally," he said. It comes after ABC News revealed staff are owed $243,000 in superannuation and $125,000 in leave entitlements from the bakery, with the total amount owed to the tax office standing around $1.4 million. But there are now questions over whether staff and creditors will see that money, after the business closed this month — two months after it re-opened under a new entity. Multiple suppliers, including Mr Williams, told the ABC they are owed thousands by All Are Welcome. "We didn't get into any of this lightly … we only entered into agreements we were confident we were going to be able to deliver on. Whether Mr Williams will see any of the $8,000 he says he is owed is now in the hands of the administrators. The administrator did not respond to the ABC's questions regarding payments to staff and creditors, but Mr Williams says he was told by the administrators "to expect zero return". "We are a very long way down the list of people who are owed money, $8,000 compared to what is owed to a lot more creditors, the staff, the ATO." When All Are Welcome entered voluntary administration in February, Mr Williams put his hand up to acquire the business. "We did some really detailed research and analysis into the business when we were looking to acquire it out of liquidation, and the result of our analysis is that there was a profitable business in there if it was managed properly." But according to documents shared with the ABC, the business was sold back to the original owner, Boris Portnoy, and he was given 12 months to pay the fee of $100,000 to own the business. "We were pretty disappointed by the complete lack of transparency in the process and then to find out that the business had been sold back to the previously failed director … that was pretty frustrating," Mr Williams said. In a statement to the ABC, Mr Portnoy said: "The Administrators chose to sell me the business as it was better for the staff [creditors] but without any guarantees that the leases would be preserved … The Administrators also took out a security on those assets and allowed me to start repaying in instalments. "It is much easier to sell a business to the operator because I have all the IP and I was willing to purchase it without any guarantees. It requires a lot more due diligence for someone else to purchase the business with a quick timeline. As of June 15 All Are Welcome shut its doors, with its more than 60 staff now out of work. When a business fails, there are mechanisms in place to protect the workers who suffer, under a scheme called the Fair Entitlements Guarantee Recovery Program (FEG). The FEG scheme covers five entitlements: wages, annual leave, long service leave, payment in lieu of notice and redundancy payments (subject to caps), but it does not cover unpaid superannuation. The Department of Employment and Workplace Relations, who oversees the FEG program, are aware of the liquidation of the bakery and said, so far, it has received one FEG claim. The department noted that money owed to staff of collapsed businesses (including any super) was prioritised ahead of other debts, but that if the funds were not available, the FEG scheme was a "last resort", which doesn't cover super. "Employees (including migrant workers) are entitled to be paid outstanding employee entitlements in priority to other unsecured creditors (and ahead of secured creditors from the proceeds of certain types of assets), provided funds are available in the insolvent estate," a department spokesperson said. "This includes outstanding superannuation entitlements, which, along with unpaid wages, rank ahead of other outstanding employee entitlements. In a statement to the ABC, a spokesperson for the Australian Taxation Office said: "The ATO cannot comment on the tax affairs of any individual due to our statutory confidentiality obligations." The ATO said that it can be harder for the department to recover unpaid super to staff when the business has gone bankrupt, entered liquidation or is under administration or deregistered. Some of those in the superannuation industry believe introducing payday super by the middle of 2026 — where super must be paid at the same time as wages — will help minimise the issue of late or no super for staff. The chief executive of superannuation clearing house, Wrkr, Trent Lund explained some businesses have relied on "bad practices" to get ahead, by using staff super as "working capital". "This is not money that is yours to be spending to help grow your business, there are other methods for that [and] if a bank won't lend you the money, then there's a bigger problem." Wrkr has completed a successful pilot with super fund Rest and MUFG Retirement Solutions, saying businesses need to start preparing for payday super which is due to take effect from July 2026. Mr Lund said these are important changes to protect staff, particularly younger staff and our country's "most vulnerable workers". CPA Australia is urging the federal government to postpone the rollout of the payday super regime for up to two years, to give the superannuation industry and small businesses sufficient time to meet the new requirements. But Mr Lund questions what will change in two years. "We've got to wean people off that working capital as hard and fast as we can. And yes, that might bring some businesses closer to the edge, but they were at the edge." It is not just Australians missing out on superannuation payments — many migrant workers are also not receiving the entitlements they have worked for. Some have called on the federal government to make it easier for Pacific and Timor-Leste workers that come to Australia to access unclaimed superannuation once their visa expires. Rob Whait, a senior business lecturer at the University of South Australia said the ATO holds millions of dollars of unclaimed superannuation owed to workers from the Pacific Australia Labour Mobility (PALM) scheme. "Around 40,000 PALM workers worked in Australia during 2023," Dr Whait said. "They could have up to $4,000 to $16,000 in unpaid super before their visa finishes, because some of them are nine-month visas and some others are on four-year visas." He said it can be difficult for PALM workers to claim their super as Australia's system is "quite complicated". "It's an old form on an old website that the tax office manages … it's case sensitive, so people enter passwords and their names incorrectly, it doesn't identify them. "There can be problems having the appropriate information … and if they have poor access to the internet, well then they can't do it," he said. Dr Whait has recommended policy reforms to make it easier for PALM workers to have their superannuation directly paid into their own super fund in their home country while working in Australia, or have the funds paid as part of their wages in lieu of superannuation.
Yahoo
20-06-2025
- Business
- Yahoo
‘Far reaching consequences' — UMass Amherst sounds the alarm amid federal uncertainty
As the federal government cuts back on research and curtails foreign student enrollment, the University of Massachusetts Amherst is sounding the alarm and preparing for the worst, according to a Wednesday email from school administrators. All academic and administrative departments on campus have been asked to develop budget scenarios that include 3% and 5% reductions, according to the administrators. The departments are also being instructed to only hire for positions deemed critical to university operations. Hires that cost more than $50,000 must be approved by the vice chancellor or provost, the administrators wrote. UMass Amherst has already received $29 million less in federal research awards compared to this time last year, the university said. Read more: UMass Amherst delays maintenance projects to pay for expected federal cuts The institution receives about $180 million in annual federal research grants and contracts. With proposed cuts to a variety of federal agencies, the university could see a reduction in its annual funding by up to tens of millions of dollars, according to the university. For instance, as part of the $180 million in funding, during fiscal year 2024, the institution received around $51 million in facilities and administration costs, also known as indirect costs. However, the U.S. Department of Defense recently issued a new 15% cap on indirect costs. The university created the Research Continuity Emergency Matching Fund to support researchers who have been impacted by federal cuts. The institution has already committed more than $700,000 in salary and research continuity funding for nearly 50 graduate students, postdoctoral students and staff. However, the university warned it is 'not sustainable long-term' and that their focus 'must shift from terminated grants to those not being renewed.' UMass Amherst could also see a reduction in enrollment next academic year due to travel bans and visa terminations threatening foreign students and proposed reductions in Pell grants. 'These grants have helped nearly a quarter of our students access a world-class education while providing a direct investment by the United States in the future of its own economic, social and intellectual strength,' the institution said. 'Limiting our capacity to serve all students—regardless of means or identity — undercuts the mission of public higher education. Further, these threats compromise our ability to plan and operate effectively as a global institution in service to a community that has contributed immeasurably to our strength," the university said. The announcement from UMass Amherst comes after a Monday court order from a federal judge that told the Trump administration to restore more than 360 National Institutes of Health grants nationwide — including 20 grants previously awarded to the University of Massachusetts system. UMass Amherst is also part of a list of 60 higher education institutions under federal investigation for not protecting Jewish students from antisemitic discrimination and harassment. Columbia University is also on the list and had $400 million pulled by the Trump administration, canceling grants and contracts because of what the government describes as the Ivy League school's failure to squelch antisemitism on campus. UMass Chan Medical School in Worcester announced a hiring freeze, spending freeze and rescinded admissions for one of its biomedical science doctorate programs this week, citing ongoing uncertainty regarding federal funding. There will also be targeted furloughs and layoffs at the medical school, according to an internal announcement. The University of Massachusetts Dartmouth is requiring approval for hiring, limiting overtime and scrutinizing non-personnel expenditures, according to an internal announcement on Wednesday. Read more: As Trump cuts funding, these Harvard scholars consider leaving US — and academia 'To be clear, while these proposed cuts and actions pose a serious threat to all of UMass, they are not yet law. UMass, alongside partners across higher education, is actively working to push back on these proposals and advocate for continued support of our critical mission in service of our nation's scientific and educational enterprise,' the university said. 'That said, the proposals currently under discussion would have far-reaching consequences for universities nationwide. UMass would not be exempt, and no area of our campus would remain untouched by the effects of such cuts. Whether the cuts are as deep as described in the President's proposed budget, or are somewhat less severe, a more constrained budget is anticipated in the year ahead,' it said. MIT joins group of universities suing the DOD over funding cuts As federal funding cuts hit Harvard, a private investment firm and other donors step up 20 NIH grants restored to UMass system after judge rules against Trump admin Trump admin asks court to rule against Harvard without a trial Federal judge orders Trump admin to reinstate hundreds of NIH grants Read the original article on MassLive.
Forbes
12-06-2025
- General
- Forbes
Eight Expectations For Selecting A College
The college selection season is in full bloom and many students have accepted or are considering their college of choice. It's also not too late to change one's mind. Determining a good college fit is often left to what colleges tell us about themselves. Some colleges like to rely on national rankings that include factors that have little to do with the practice of learning and teaching (e.g., number of doctoral candidates). Others rely on the records and reputation of sports teams to determine academic prowess, again a dubious metric. Most often, students choose colleges based on two factors: cost and convenience. There are, however, other things to consider and expect when making a college decision, the top eight expectations of which are as follows: The bottom line is the student must be more savvy than ever when selecting a college. With the cost of tuition continuing to rise, students (also known as consumers) should demand they are getting the most out of their expenditures. The best way to discern which college is best for each student is by asking about the above-mentioned expectations. Ask the admissions staff, faculty, and administrators, do the research on what matters most, and then make your decision accordingly. Discernment now is the best path to a happier and secure future.
Telegraph
03-06-2025
- Business
- Telegraph
What is probate of will and how it works
Understanding what probate of will entails is crucial when dealing and distributing someone's assets when they die, but it can be a complex and complicated process. In this guide, we will aim to demystify the topic of probate, and provide you with what you need to know to navigate its intricacies with confidence. We will cover the following: What is probate? When is it needed? The probate process: A step-by-step guide Common probate challenges and how to overcome them FAQs What is probate of will? Probate, specifically probate of will, is the legal process of managing a deceased person's estate, typically by named executors. This includes: Handling assets Paying any outstanding debts Ensuring that beneficiaries receive their inheritance Before any inheritance may be passed on, probate ensures that all financial and legal obligations are met. In order to meet these requirements, executors are granted access to the deceased's bank accounts, investments and even property. Who are the key players in probate? There are several different stakeholders involved in the probate process and it can be confusing without an understanding of them. The most important roles are: Executor: the person or persons named in the will to manage the estate. Executors are responsible for collecting and distributing the deceased's assets, completing any legal documentation and paying off outstanding debts. Administrator: in the event of no will (known as 'intestacy') or the executors being unwilling to act, the court appoints an administrator to manage the deceased's estate. Beneficiaries: those people or organisations in line to inherit from the estate. Probate registry: the UK government office that processes probate applications. HMRC: responsible for collecting any inheritance tax. When is probate of will needed? Probate of will is required when dealing with a deceased person's major financial assets. In many cases, you won't be able to take charge of and distribute assets of significant value until you have a 'grant of probate' – so it is a very important task for executors, and can be a lengthy process. Financial companies and institutions will typically freeze accounts once a person dies, and you will need probate to access assets such as savings and investments or to be able to sell their home. Banks, investment firms and the Land Registry usually require legal proof before releasing funds or transferring ownership. Some banks may pay out small sums without the need for probate, ranging from £5,000 to £50,000, depending on the provider, but you will need other documentation, such as a death certificate, to access this money. If the deceased had no property and an estate worth less than £10,000, you may be able to avoid the stress of getting a grant, but the vast majority of executors do require one. If the deceased owned property solely in their name, probate is usually required. However, if most assets were jointly owned, probate may not be necessary due to ownership transferring directly to the surviving joint owner. What is a grant of probate? A grant of probate is the legal document that you will receive once you have been given authority to access and distribute a deceased person's assets. It is not a quick process. There have been reports of widespread delays with the probate system due to staff shortages and a shift to remote working. This has left some families having to wait months longer to gain control of their late loved one's finances, which can make it harder to pay inheritance tax bills, funeral costs and to sell a property. The probate process: A step-by-step guide Applying for probate of will can be overwhelming; however, following the steps below should make the process less stressful and time-consuming. There are seven steps you'll need to go through: Register the death Find the will Arrange the funeral Contact official organisations and financial providers Value the estate Apply for probate Pay inheritance tax 1. Register the death A death needs to be registered within five working days in most of Britain (eight in Scotland). Once this is done you will receive a copy of the death certificate. Make sure you order multiple copies as financial institutions will require one when you register the death with them and there could be lots of accounts to access. Each copy will cost you £12.50 in England and Wales. Confusingly, banks will sometimes ask for an 'original certificate', but this just means a certified copy. You can order more at a later date if needed. 2. Find the will The will should name an executor – the person responsible for dealing with the finances. If there is no will, then you will need to apply for Letters of Administration. This process is virtually identical to applying for probate in all but name, but can take longer. Once you have the will you should notify all the beneficiaries and place a notice in the Gazette, the official public record, asking potential creditors to come forward. This may sound excessive, but it is necessary to show you have carried out your legal duties as executor. Joe Cobb, of the law firm JMW Solicitors, said: 'Should the executor fail to take the correct measures in identifying the potential creditors and then one comes forward after the assets have been distributed, the creditor may pursue the beneficiaries for the outstanding amount.' 3. Arrange the funeral The deceased may have left instructions for their funeral in their will. Funeral costs are notoriously varied, but on average you should expect to spend £4,285 on a 'simple' attended service, according to the insurer SunLife. Luckily, some banks will pay out funeral expenses before probate is granted. If not, you can later recover the fees from the estate. Simon Hancox, of estate planning service Kings Court Trust, said: 'Executors or administrators can be reimbursed for reasonable expenses from the estate, which could include probate registry fees, funeral expenses, property maintenance, postage costs, the cost of death certificates, property insurance costs, clearance costs, valuation fees and so on.' 4. Contact official organisations and financial providers Government departments such as HM Revenue & Customs and the Department for Work and Pensions will need to know about someone's death to resolve tax or benefit issues. But you don't need to wait for hours on hold. You can use the Tell Us Once service to register the death with the various government departments in one go. You should also contact the banks, pension providers, investment firms and other companies the deceased held funds with. If the deceased held accounts with any of the following firms, then you can use the Death Notification Service to make things easier for yourself by notifying multiple organisations at once:
Forbes
20-05-2025
- Politics
- Forbes
Reinvent Leadership At Universities: Devoted Students Hold The Future
Graduation students who are committed to learning, leading, and building what comes next. Here we are, another graduation season. Once again, the national spotlight focuses on disruption, protests, and political controversy, overshadowing what truly matters: the devoted students who are quietly advancing their futures and embodying the mission of the universities they attend. Today's effective leader is being forced to reinvent on the move. That reality presents a defining moment. It's time for university leadership to step back, recalibrate, and return their attention to the very people they are meant to serve, the students who are committed to learning, leading, and building what comes next. When I worked in the political space, distraction was a daily battle. We faced headlines and noise intended to pull our focus from the work and results we were generating. To win, we had to reclaim the narrative every day and keep it focused on serving the people who elected us. The same principle applies to America's universities. Leadership must now show a commitment to their students by refusing to let protestors, fears of lost government funding, and pundits dominate the story. There are three ways administrators can do this. University leaders must ask themselves: Are we reacting to noise, or are we creating momentum for the future? The cost of remaining reactive is high, not just in terms of reputation, but in missed opportunities to lead with authority and purpose. This is not about putting all their energy into responding to protestors. It's about amplifying the mission-aligned students whose presence proves that your institution works. The unsung heroes of your university are disciplined, innovative, and driven. They are not a PR strategy. They are the product of your core values in motion. Give them the mic. Host the conversations you want to be hosting. Make room for optimism grounded in data, direction, and demonstrated outcomes. If you are an administrator, align your energy with the future. Start by shifting your presence. Invite devoted students into your communication strategy. They are already telling a powerful story, one of persistence, progress, and purpose. They are your most credible advocates. Bring attention back to the fact that education changes people and uncovers the deep value of their character and purpose. Your students are proof of that. They are the living, breathing evidence of your mission fulfilled. The well-being of your university depends on this focus. It is a defining moment for direction. Model what it means to believe in the future and all that is possible. In doing so, you not only signal strength and vision, but you also invite meaningful engagement from alumni, future students, donors, and faculty. Revenue streams that reflect investment in people, not just programs, are yet to be fully realized. But they start here. Let's return to the days when people traveled for miles to hear someone speak in person, not because it was convenient, but because it mattered. Human-to-human experiences create energy, conviction, and clarity. Students make up most of the audience at sporting events and concerts, not behind screens, but in the seats, showing up in person because shared experience matters. They go in person because the connection moves them. That same energy can and should exist in your classrooms, auditoriums, and campus centers. Leadership must not forget this. Host the conversations that matter. They have ideas. They have values. And they want to help shape a world that works better than the one they've inherited. Give them the authority to do so. Extend the invitation to speak, lead, and co-create. This is not about what's going wrong. It never has been. It's about what is working, who is thriving, and what future those students are already starting to build. The conversation at universities must change. It's time to stop reacting and start leading with intention. Administrators must seize this defining moment for direction—one that prioritizes optimism, elevates student voices, and leans into the reality that students are your most valuable data point. They are lifelong learners. They are already future-proofing their own paths. They're ready to take meaningful action if you let them. Model reinvention. Be deliberate in your presence. Lead with calm confidence. Align your voice with the mission, not the noise. Good news can and must make the front page. Let that news be about the students who reflect your university's best work and brightest future. That's leadership. That's devotion. That's the opportunity in front of you.
