KUALA LUMPUR: Sixteen companies and 15 individuals were declared bankrupt after failing to settle RM8.18 million in arrears to the Inland Revenue Board (IRB). In a statement today, IRB said the 16 companies had a total of RM4.86 million tax arrears while the balance was owed by the 15 individuals. Based on the list provided,…
Embattled department store chain Myer has hired a senior British department store retailer, former House of Fraser chief executive John King, as its new chief executive. Mr King, 55, takes the helm from Richard Umbers, who was forced to step down with immediate effect in February after unveiling Myer’s third profit downgrade in less than a…
Mumbai: Tata Steel, which emerged as the successful bidder for stressed alloy maker Bhushan Steel in the bankruptcy process, is raising up to Rs 17,000 crore in loans from a consortium of about six private and foreign financiers, said three people with direct knowledge of the matter. The company is in talks with lenders including…
TONY BENNY/STUFF Forestland companies are headed for liquidation. The Financial Markets Authority has applied to the High Court to place 18 Forestlands companies into liquidation because it has no faith in the company’s director to look after the interests of shareholders. For the past year the Serious Fraud Office and FMA have been investigating Motueka-based Forestlands after…
The resolution process for Essar Steel may undergo another round of bidding with sources indicating that both ArcelorMittal and Nu Metal could fail the eligibility test again after reconsideration of their applications by the committee of creditors (CoC) under the directions of Ahmedabad bench of National Company Law Tribunal (NCLT). Worlds largest steel maker ArcelorMittal…
A sophisticated drug trafficking operation between Ireland and Australia has been uncovered after a two-year transnational investigation into an established Irish drug cartel, which has led to the arrest of at least four Irish nationals in Australia and New Zealand. The alleged drug ring is said to be linked to one of Ireland’s most prominent…
BEFORE the GFC hit, Sydney parents Dominique and Kevin Grubisa were living it up with a thriving, seven-figure business renovating and selling property. But in 2008, everything fell apart. The couple had around 15 properties at the time, and were drowning in tens of millions of dollars in debt. Bosss shocking 12.30am email Awkward problem…
After months of fruitless efforts to reach a bailout, Tel Aviv District Court Judge Eitan Orenstein ordered Shaul Elovitchs Eurocom Communications be put into liquidation and its sister company, Eurocom Real Estate, into receivership. … Read the full article at: https://www.haaretz.com/israel-news/business/.premium-court-orders-eurocom-parent-company-of-bezeq-into-liquidation-1.6015539
By Australian Associated Press Published: 07:44 AEST, 23 April 2018 | Updated: 07:44 AEST, 23 April 2018 e-mail Disgraced Sydney businessman Salim Mehajer is expected to challenge a court which ruled him insolvent because “only God” has the power to declare him bankrupt. A Federal Circuit Court judge declared the property developer bankrupt in March…
Tel Aviv District Court Judge Eitan Orenstein today issued a liquidation order for the Eurocom Group. The order will take effect on May 3, as requested by the banks. The official temporary receiver was appointed as the temporary liquidator for Eurocom Communications, and the banks’ lawyers were appointed as special managers for the company. The…