Max Clifford, the disgraced former PR mogul, has declared bankruptcy owing £7.5 million, including to women who claim that he sexually abused them, The Times can reveal. Clifford, 74, is serving an eight-year jail sentence for indecent assaults on four women and teenage girls between 1966 and 1984. His financial downfall may scupper the claims…
A new committee set up to complement ASICs functions has released the names of lawyers appointed to its ministerial pool. The creation of the federal Insolvency Disciplinary Committee is part of a new Australian corporate insolvency regime that has been enacted in 2016. Minister for Revenue and Financial Services Kelly ODwyer announced last week nine…
A former bankrupt masterminded a large and sophisticated tax-evasion scheme involving a complex web of companies in order to defraud the Australian Taxation Office (ATO), a court has been told. The Federal Court heard last week that Philip Whiteman also installed people including a homeless man as company directors without their knowledge in order…
“We are proud to be the first municipality in the country to offer this kind of student debt assistance to our workforce. We view this as an important investment in our employees,” said Alex Smith, City of Memphis Chief Human Resources Officer. Beginning July 1, eligible Memphis city workers will receive monthly contributions of $50…
The childrens clothing retailer Gymboree filed for Chapter 11 bankruptcy protection late Sunday. The mall-based chain says it plans to remain in business during its restructuring, but will close 375 to 450 stores out of its fleet of its 1,281 locations. The company employs more than 11,000 workers. Gymboree says the restructuring will reduce its…
3 min read Nagpur: Create economic uncertainty by indulging in financial mismanagement and corruption seems to be the most-liked but equally dubious modus operandi of companies to go bankrupt in order to dodge the action of their creditors. The Jayaswals of Neco, Nairs of Orange City Hospital, Nairsons of coal companies and many such more…
Potential rescuers are already starting to emerge as administrators start to review the books of the collapsed Australian franchise of Topshop and Topman. The Australian franchise of the UK fast fashion brands collapsed into voluntary administration on Wednesday. Administrators from Ferrier Hodgson were appointed to Austradia Pty Ltd, which operates nine stand-alone Topshop and Topman stores…
The boss of a Sheffield city centre restaurant, bar and brewery declared insolvent with debts of £1 million has taken to Facebook to explain the venue’s “severe difficulties” in a frank video. Alex Barlow, owner and founder of the Sentinel Brewhouse in Shoreham Street, has revealed that unexpected building costs and a batch of stolen…
3 min read Nagpur: Create economic uncertainty by indulging in financial mismanagement and corruption seems to be the most-liked but equally dubious modus operandi of companies to go bankrupt in order to dodge the action of their creditors. The Jayaswals of Neco, Nairs of Orange City Hospital, Nairsons of coal companies and many such more…
France’s finance minister, Bruno Le Maire, expressed optimism on Monday, after meeting with his Greek counterpart Euclid Tsakalotos, over the outcome of Thursdays crucial Eurogroup in Luxemburg, which will seek to wrap up a funding agreement between Greece and its international lenders. According to reports, Le Maire, who travelled to Athens in a bid to…