04 August 2016 Lara Bullock View Comments Lawyers must ensure they disclose the full extent of risk to clients, as the Australian Financial Security Authoritys (AFSA’s) statistics show the number of bankruptcy cases is increasing.…
Chinese robot makers are heading towards a debt-filled crisis as the increasingly overcrowded market for automated machines reaches overcapacity. Dozens of Chinese cities have opened industrial robotics parks in recent years in an attempt to place themselves at the forefront of the industry. The parks are largely funded by a local government finance vehicle (LGFV),…
A robot is presented at Wuhu robotics center in Wuhu Thomson Reuters By Nathaniel Taplin WUHU, China (Reuters) – Down a side street bracketed by massage parlors and cheap hotels in this city on the banks of the Yangtze river, a humanoid food service robot trundles around the corner of a table in a cafe,…
A deal designed to help Delta recover a $13.4million bad debt from a stalled Christchurch subdivision is expected to take years to realise and comes with no guarantees, it has been revealed. Dunedin City Holdings Ltd chairman Graham Crombie outlined details of the deal in a media statement yesterday, following a marathon discussion behind closed…
They say its good to be the king. And if name and footprint is any indication, one would expect that to be the case at the global law firm King & Wood Mallesons. But is it? An amalgamation of Chinas King & Wood, Londons SJ Berwin and Mallesons of Australia, the 2,000+ lawyer firm grossed $1…
Belarus: Major fruit, veg importer declared bankrupt The Economic court of the Magilev region has started proceedings concerning the economic insolvency (bankruptcy) of the company Fruktest, one of Belarus biggest fruit and vegetable importers. A company called the Consulting Bureau has been appointed to carry out the procedure. Credit claims can be carried out over…
Technology companies from Apple Inc. to Microsoft Corp. have sold more than $100 billion of debt this year even as they sat on more than half a trillion dollars of cash. They did it for two reasons: they wanted to avoid paying taxes, and just because they could. Bond buyers fleeing negative yields on government…
The Insolvency Service has wound up a pension liberation company which helped savers access their funds earlier than allowed, following a High Court battle. Thames Trustees, which acted as trustee of the Westminster Pension Scheme, coaxed clients into moving their retirement funds into the scheme, which was set up in December 2012. Clients were promised…
The company acted as trustee of the Westminster Pension Scheme (the Scheme) which was established in December 2012. Clients were induced to move their existing pension funds into the Scheme on the basis that they would receive in return a cash payment either in the form of a loan from an associated company (typically…
MANILA, Philippines Payment of claims of shuttered Prudentialife Plans Inc. will continue after the Insurance Commission (IC) scored a win against the company at the Supreme Court four years after it was put under receivership. “The Court resolves to deny the petition for failure of petitioners to sufficiently show that the Court of Appeals committed…