Controversial property developer Salim Mehajer has launched a Federal Court bid to overturn his bankruptcy while he awaits a court ruling on whether he will be jailed for electoral fraud. The former deputy mayor of the now-defunct Auburn Council is expected to ask Justice Michael Lee to annul the bankruptcy declaration at an urgent hearing…
The report presented by the Insolvency Law Committee has brought some hope to the homebuyers. Under the Insolvency and Bankruptcy (I&B) Code, the one affected the most are the genuine homebuyers of those real estate companies against whom Corporate Insolvency Resolution Process (CIRP) has been initiated. These homebuyers have given their earnings, taken the loan…
MUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code. These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
National Australia Bank has flagged $755 million of pre-tax restructuring costs, putting the hit close to the upper end of its first-half guidance. NAB previously outlined a cost of between $500 million and $800 million, largely related to redundancies. The lender in November announced it will slash 4,000 jobs over the next three years as…
MUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code. These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used…
Controversial property developer Salim Mehajer has launched a Federal Court bid to overturn his bankruptcy while he awaits a court ruling on whether he will be jailed for electoral fraud. At an urgent hearing on Monday, the former deputy mayor of the now-defunct Auburn Council is expected to ask Justice Michael Lee to annul the…
Today’s City Moves cover the insolvency sector, insurance and legal eagles. Take a look at these movers and shakers: R3 Stuart Frith, a Partner at Stephenson Harwood LLP, is taking over as the new president of R3, the insolvency and restructuring trade body. His year-long term starts today. With over 30 years experience in the…
Image Source: baltictimes x DOWNLOAD British Steel consortium to acquire KVV Liepajas Metalurgs in Latvia – Report British Steel consortium to acquire KVV Liepajas Metalurgs in Latvia – Report The Baltic Times reported that British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to…