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Storm Financial
Storm Financial Limited was a financial advice company, based in Townsville, Queensland, Australia. The company was founded by Emmanuel Cassimatis and his wife Julie Cassimatis as a private company initially with the name Cassimatis Securities Pty Ltd on 23 May 1994. As part of the company's expansion outside of Townsville the company changed its name from a personality based name to ozdaq Securities Pty Ltd on 10 April 2000. This name remained intact until 1 February 2004 when it was relinquished consequent to trademark objections from the NASDAQ stock exchange in the United States. The company then traded as Storm Financial Pty Ltd from 2 February 2004 until 14 June 2007 at which time the company became an unlisted public company and continued trading as Storm Financial Ltd from 15 June 2007 in preparation for making an initial public offering (IPO) in December 2007. This IPO was subject to a Storm Financial Prospectus which was dated 14 November 2007 and lodged with the Austral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Townsville
Townsville is a city on the north-eastern coast of Queensland, Australia. With a population of 180,820 as of June 2018, it is the largest settlement in North Queensland; it is unofficially considered its capital. Estimated resident population, 30 June 2018. Townsville hosts a significant number of governmental, community and major business administrative offices for the northern half of the state. Part of the larger local government area of the City of Townsville, it is in the dry tropics region of Queensland, adjacent to the central section of the Great Barrier Reef. The city is also a major industrial centre, home to one of the world's largest zinc refineries, a nickel refinery and many other similar activities. As of December 2020, $30M operations to expand the Port of Townsville are underway, which involve channel widening and installation of a 70-tonne Liebherr Super Post Panamax Ship-to-Shore crane, to allow much larger cargo and passenger ships to utilise the port. It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commoditization
In business literature, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of attributes (uniqueness or brand) end up becoming simple commodities in the eyes of the market or consumers. It is the movement of a market from differentiated to undifferentiated price competition and from monopolistic competition to perfect competition. Hence, the key effect of commoditization is that the pricing power of the manufacturer or brand owner is weakened: when products become more similar from a buyer's point of view, they will tend to buy the cheapest. This is not to be confused with commodification, which is the concept of objects or services being assigned an exchange value which they did not previously possess by their being produced and presented for sale, as opposed to personal use. One way to summarize the difference is that commoditization is about proprietary things becoming generic, whereas commodification is about no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misleading Or Deceptive Conduct
Misleading or deceptive conduct (often referred to as just misleading conduct) is a doctrine of Australian law. Section 18 of the ''Australian Consumer Law'',''Competition and Consumer Act'' 2010 (CthSchedule 2, The Australian Consumer Law which is found in schedule 2 of the Competition and Consumer Act 2010, prohibits conduct by corporations in trade or commerce which is misleading or deceptive or is likely to mislead or deceive. The states and territories of Australia each have Fair Trading Legislation either containing similar provisions in relation to misleading or deceptive conduct by individuals, or simply applies the federal law to the state or territory. Section 12DA of the ''Australian Securities and Investment Commission Act'' 2001 prohibits misleading or deceptive conduct in financial services. The doctrine aims primarily to provide consumer protection by preventing businesses from misleading their customers. However, it extends to all situations in the course of tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan-to-value Ratio
The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. In Real estate, the term is commonly used by banks and building societies to represent the ratio of the first mortgage line as a percentage of the total appraised value of real property. For instance, if someone borrows to purchase a house worth , the LTV ratio is or , or 87%. The remaining 13% represent the lender's haircut, adding up to 100% and being covered from the borrower's equity. The higher the LTV ratio, the riskier the loan is for a lender. The valuation of a property is typically determined by an appraiser, but a better measure is an arms-length transaction between a willing buyer and a willing seller. Typically, banks will utilize the lesser of the appraised value and purchase price if the purchase is "recent" (within 1–2 years). Risk Loan to value is one of the key risk factors that lenders assess when qualifying borrowers fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporations Act 2001
The ''Corporations Act 2001'' (Cth) is an Act of the Parliament of Australia, which sets out the laws dealing with business entities in the Commonwealth of Australia. The company is the Act's primary focus, but other entities, such as partnerships and managed investment schemes, are also regulated. The Act is the foundational basis of Australian corporate law, with every Australian state having adopted the Act as required by the Australian Constitution. The Act is the principal legislation regulating companies in Australia. It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising. Background Constitutional basis Australian corporate law was the subject of a successful legal challenge in the High Court of Australia in ''New South Wales v Commonwealth'' (1990) ('The Corporations Act Case'). In that case, the Commonwealth was found to have in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interlocutory Injunction
An interlocutory injunction is a court order to compel or prevent a party from doing certain acts pending the final determination of the case. It is an order made at an interim stage during the trial, and is usually issued to maintain the status quo until judgment can be made. Jurisdictions Australia In Australia, the High Court of Australia, High Court in ''ABC v Lenah Game Meats''. stated that the purpose of the interlocutory injunction is to preserve identifiable legal or equitable rights.See . The basic proposition remains that where interlocutory injunctive relief is sought in a Judicature system court, it is necessary to identify the legal (which may be statutory) or equitable rights which are to be determined at trial and in respect of which there is sought final relief which may or may not be injunctive in nature. In another Australian High Court decision, ''Castlemaine Tooheys Ltd v South Australia'',. Mason CJ outlined another requirement for establishing an interlocuto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Court Of Australia
The Federal Court of Australia is an Australian superior court of record which has jurisdiction to deal with most civil disputes governed by federal law (with the exception of family law matters), along with some summary (less serious) and indictable (more serious) criminal matters. Cases are heard at first instance by single judges. The court includes an appeal division referred to as the Full Court comprising three judges, the only avenue of appeal from which lies to the High Court of Australia. In the Australian court hierarchy, the Federal Court occupies a position equivalent to the supreme courts of each of the states and territories. In relation to the other courts in the federal stream, it is superior to the Federal Circuit and Family Court of Australia for all jurisdictions except family law. It was established in 1976 by the Federal Court of Australia Act. The Chief Justice of the Federal Court is James Allsop. Jurisdiction The Federal Court has no inherent jurisdict ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negative Equity
Negative equity is a deficit of owner's equity, occurring when the value of an asset used to secure a loan is less than the outstanding balance on the loan. In the United States, assets (particularly real estate, whose loans are mortgages) with negative equity are often referred to as being "underwater", and loans and borrowers with negative equity are said to be "upside down". People and companies alike may have negative equity, as reflected on their balance sheets. History The term negative equity was widely used in the United Kingdom during the economic recession between 1991 and 1996, and in Hong Kong between 1998 and 2003. These recessions led to increased unemployment and a decline in property prices, which in turn led to an increase in repossessions by banks and building societies of properties worth less than the outstanding debt. Since 2007, those most exposed to negative equity are borrowers who obtained loans of a high percentage of the property value (such as 90% or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Bank Of Australia
The Commonwealth Bank of Australia (CBA), or CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States and the United Kingdom. It provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of August 2015 with brands including Bankwest, Colonial First State Investments, ASB Bank (New Zealand), Commonwealth Securities (CommSec) and Commonwealth Insurance (CommInsure). Its former constituent parts were the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank. Founded in 1911 by the Australian Government and fully privatised in 1996, the Commonwealth Bank is one of the " big four" Australian banks, with the National Australia Bank (NAB), ANZ and Wes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Default (finance)
In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt. The biggest private default in history is Lehman Brothers, with over $600 billion when it filed for bankruptcy in 2008. The biggest sovereign default is Greece, with $138 billion in March 2012. Distinction from insolvency, illiquidity and bankruptcy The term "default" should be distinguished from the terms "insolvency", illiquidity and "bankruptcy": * Default: Debtors have been passed behind the payment deadline on a debt whose payment was due. * Illiquidity: Debtors have insufficient cash (or other "liquefiable" assets) to pay debts. * Insolvency: A legal term meaning debtors are unable to pay their debts. * Bankruptcy: A legal finding that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Administration (law)
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – in the United Kingdom colloquially called being "under administration" – is an alternative to liquidation or may be a precursor to it. Administration is commenced by an administration order. A company in administrative receivership is operated by an administrator (as interim chief executive with custodial responsibility for the company's assets and obligations) on behalf of its creditors. The administrator may recapitalize the business, sell the business to new owners, or demerge it into elements that can be sold and close the remainder. Most countries distinguish between voluntary (board-decided) and involuntary (court-decided) receivership. In voluntary administrative receivership, the admi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Storm Financial Website
A storm is any disturbed state of the natural environment or the atmosphere of an astronomical body. It may be marked by significant disruptions to normal conditions such as strong wind, tornadoes, hail, thunder and lightning (a thunderstorm), heavy precipitation ( snowstorm, rainstorm), heavy freezing rain (ice storm), strong winds ( tropical cyclone, windstorm), wind transporting some substance through the atmosphere such as in a dust storm, among other forms of severe weather. Storms have the potential to harm lives and property via storm surge, heavy rain or snow causing flooding or road impassibility, lightning, wildfires, and vertical and horizontal wind shear. Systems with significant rainfall and duration help alleviate drought in places they move through. Heavy snowfall can allow special recreational activities to take place which would not be possible otherwise, such as skiing and snowmobiling. The English word comes from Proto-Germanic ''*sturmaz'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
