by Dinny McMahon When Zhang Jingqiang became mayor of Tieling in 2005, it was the poorest city in Liaoning Province. A greying, former Ming-dynasty garrison town of about 440,000 people in the country’s frigid north-east, it was part of China’s rust belt, but large-scale industrialisation had long ago bypassed the city. Zhang wasn’t a high-flyer.…
The rising cost of living and stagnant wages are creating unprecedented financial stress for workers. So what role should employers, and HR departments in particular, play to help staff manage their own money? During the past 12 months, 30 companies in Australia (including banks, utilities, unis, lawyers and investment firms) and non-profits have rolled out programs to…
A MUSWELLBROOK company refutes union claims that it owes hundreds of thousands of dollars in employee privileges. The Construction, Forestry, Mining and Energy Union (CFMEU) recently stated it was currently working to claw back more than $200,000 in entitlements for ex-staff at BIGLIFT Cranes and Heavy Haulage. The CFMEU alleges the business is more than…
On April 4, Latvia’s anti-graft squad, the Corruption Prevention and Combating Bureau (KNAB), searched the offices of the public road maintenance company Latvijas Autocelu Uzturetajs. Raitis Nepors, a board member at the company, confirmed to LTV that the company was searched but did not reveal which offices were searched and what the authorities seized. Anastasija Udalova,…
Long established family company, Shearer Contracting Pty Ltd, has been placed in voluntary administration which may see up to 50 local jobs lost. Many of these are long-term employees that have worked with the company for three decades. Rapsey Griffiths Insolvency and Advisory have been appointed administrators of the company. Partner, Chad Rapsey, says they have commenced an…
By Rick Archer Law360 (April 4, 2018, 5:01 PM EDT) — Schulte Roth & Zabel LLP announced Monday that a new restructuring partner is joining the firms New York City office from Clifford Chance. Kristine Manoukian, who had been a partner at Clifford Chance for just under two years, has joined the firms Business Reorganization…
Long established family company, Shearer Contracting Pty Ltd, has been placed in voluntary administration which may see up to 50 local jobs lost. Many of these are long-term employees that have worked with the company for three decades. Rapsey Griffiths Insolvency and Advisory have been appointed administrators of the company. Partner, Chad Rapsey, says they have commenced an…
While home buyers have welcomed the report of the Insolvency Law Committee that property buyers be treated as financial creditors, they feel that to ensure buyers get priority in the liquidation process, they should be classified as both secured and financial creditor. The 14-member panel has proposed to the government that if home buyers are…
A MUSWELLBROOK company refutes union claims that it owes hundreds of thousands of dollars in employee privileges. The Construction, Forestry, Mining and Energy Union (CFMEU) recently stated it was currently working to claw back more than $200,000 in entitlements for ex-staff at BIGLIFT Cranes and Heavy Haulage. The CFMEU alleges the business is more than…
60 jobs go as Hexham firm hits the wall HEXHAM company Total Fabrication Services has gone into liquidation, leaving more than 60 employees owed more than $1.5 million in entitlements. Although the employees should receive some entitlements through the federal governments Fair Entitlements Guarantee scheme, the Australian Manufacturing Workers Union says the company was three months behind with…