The directors and staff of a group of companies allegedly involved in a massive tax evasion scheme might also have committed countless other criminal offences, according to a report tendered in the Federal Court. Key points: Report details huge list of alleged criminal offences undertaken by a group under investigation for tax fraud According…
LONDON Deutsche Bank is creating a new capital markets division as part of a restructuring of its investment banking division, Bloomberg News reported. CEO John Cryan outlined new responsibilities for corporate and investment banking co-heads Garth Ritchie and Marcus Schenk, according to an internal email reported by Bloomberg. Schenk will oversee client relationships while Ritchie…
Both houses of Parliament have passed a bill containing various amendments to the governments suite of superannuation taxation reforms, including changes to transition to retirement income streams and limited recourse borrowing arrangements. Treasury Laws Amendment (2017 Measures No. 2) Bill 2017 has today reached passage through both the House of Representatives and the Senate and…
Adelaide Thursday June 15, 2017 The Royal Croquet Club has been forced into voluntary administration after a disastrous venture in China involving the Adelaide City Council during which two of its directors were detained in the country. Jay promises another “jobs budget” as unemployment continues to soar … Read the full article at: http://indaily.com.au/news/local/2017/06/15/year-from-hell-royal-croquet-club-forced-into-voluntary-administration/
A former Olympic gold Chinese table tennis player is facing a HK$2.55 million lawsuit over a gaming debt to a prestigious Singaporean hotel where he was dubbed a premium player. Kong Linghui, also known as the ping-pong prince, is being sued by Marina Bay Sands for failing to repay fully a sum of S$1 million…
Its been a big week for company upheaval, with news of Network Tens collapse into voluntary administration garnering widespread attention, and experts say theres only one way to steer your team through such change: be human. On Wednesday, Network Ten confirmed administrators at KordaMentha would be taking control of the troubled TV channel after a…
DOORS SHUT: The former premises of Spectrum Window Fashions on Havannah Street. A BUSINESS owned by former Bathurst mayor Gary Rush has gone into voluntary liquidation owing money to the Australian Tax Office and some suppliers. Chris Chamberlain of Chamberlains SBR has been appointed liquidator for Spectrum Window Fashions Pty Ltd after a general meeting of the…
by Elizabeth Proust Our insolvency laws are widely recognised as being among the harshest in the world. Unlike comparable countries, such as the UK and Singapore, where the law focuses on what directors are doing to try to turn a company around, Australia’s laws focus solely on the tipping point where a company cannot pay…
A SHOCKED building firm behind the renovation of a West London tower block that was left an inferno overnight claims its work met fire regulations. Construction company Rydon carried out an £8.6m refurb of Grenfell Tower in May 2016. PA:Press Association Firefighters were this afternoon pictured inspecting the gutted tower block PA:Press Association Inspectors have…
In the first six months after notification of the Insolvency and Bankruptcy Code, a number of big-ticket filings were made from the energy sector at the National Company Law Tribunal (NCLT). Last month saw insolvency filings worth Rs 10,000 crore from the sector. One of these being Kolkata-based steel company Ramsarup Industries,…