A NUMBER of Dalby businesses caught up in the 2017 collapse of Ostwald Brothers have been dealt a fresh blow, as liquidators move to recover several million dollars worth of potential “preferential payments” made in the six months before the construction business went bust. Dalby Chamber of Commerce and Industry president Rohan May said the…
Xue Guanglin, the founder of Brightoil Petroleum Holdingsand once a billionaire on the Forbes rich list, was declared bankrupt by Hong Kong High Court following a long-running case involving financial woes at his company. As Xue is a personal guarantor for about US$30 million debt owed by Brightoils Singapore subsidiary to Vietnamese national oil company…
The committee of creditors to Gitanjali Gems, promoted by fugutive Mehul Choksi, has decided to liquidate the company to recover 12,558 crore it owes to 31 banks and financial institutions. Choksi along with diamantaire Nirav Modi, are on the run since early last year after they misused credit facilities of banks and defaulted on loan…
The court documents have revealed that businessman Wong Yew Choy visited Queensland Casino on July 26. Before departure, he was supposed to pay his A$43.2 million ($30.6 million) debt but did no such thing, claiming that during his stay, dealers made mistakes which werent specified. Star Entertainment QLD is ready to pursue this matter to…
PayPal has been accused of allowing compulsive gamblers tospend up to 150,000per day, which prompts concerns that gambling addicts are utilizing PayPal to get around the limits established by traditional banks. MPs and gambling experts called for PayPal to exercise more responsibility to stop gamblers from accruing colossal debtthat could force them into bankruptcy. The…
Daily News View All News 16 April 2019 Specialist technology staffing company Parity Group (PTY: LSE) reported revenue for the year ended 31 December 2018 of 86.1 million, an increase of 2.7% compared with the same period last year. Adjusted pre-tax profit decreased by 48.7% to 850,000 last year due to costs related to the…
New Delhi: Opening up a new window for promoters looking to retain control of their companies facing bankruptcy proceedings, the National Company Law Appellate Tribunal (NCLAT) has held that shareholders and owners can reach a settlement with creditors when their entity is under liquidation and an official liquidator has been appointed by the insolvency court.…
Gazprom has begun buying natural gas from Turkmenistan after a three-year pause, under a 25-year contract signed in 2003 and suspended in 2016. Until 2010, Russias gas giant was the biggest buyer of Turkmen gas, Reuters recalls in its report on the story, adding that this was the year when Turkmenistan began exporting gas to…
Accomplished Research on Debt Settlement Market Growth 2019-2025: This is an excellent research study specially compiled to provide the latest insights into critical aspects of the Debt Settlementmarket. The report includes different market forecasts related to market size, production, revenue, consumption, CAGR, gross margin, price, and other key factors.It is prepared with the…
Notice along with Agenda and Notes to Agenda for the 8th Meeting of the Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Process) under the provisions of The Insolvency and Bankruptcy code, 2016 read with Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Day…