The economy is slaughtering Aussie businesses and theres no sign of things letting up. Company collapses surged in February and reached a level that hasnt been seen for the past nine years, according to new data released on Monday by the corporate regulator, the Australian Securities and Investments Commission (ASIC). Insolvencies are increasing significantly, Cliff…
A recent decision has helped to frame the tests articulated by the Supreme Court in Sequana. The Supreme Courts landmark decision in Sequana[2022] UKSC 25.leaves many unanswered questions, and finding a common thread between the four quite separate judgments has proved challenging for practitioners and directors alike. The recent decision in Hunt v. Singh[2023] EWHC…
Hazel Hawkins Memorial Hospital (Photo courtesy of HHMH) A bankruptcy petition by Hazel Hawkins Memorial Hospital, the only hospital in San Benito County, California, has been dismissed by a judge who declared the facility is not eligible for such protection. HHMH, which is managed by the San Benito Health Care District (SBHCD) public agency, declared…
Katie Price insisted ‘no one can take her Mucky Mansion’ after she was declared bankrupt for the second time. The former glamour model, 45, was declared bankrupt for a second time over an unpaid tax bill worth more than 750,000. Katie, who was previously declared bankrupt six years ago, owes 761,994.05 to HM Revenue and…
The High Court on Tuesday declared media tycoon Yu Pun-hoi bankrupt, after a failure to repay debts of more than HK$400 million to a mainland investment bank. Yu is the chairman of formerly listed Nan Hai Corporation, the parent company of online media outlet HK01. The court heard that the creditor, CCB International Overseas Limited,…
The High Court on Tuesday declared media tycoon Yu Pun-hoi bankrupt, after a failure to repay debts of more than HK$400 million to a mainland investment bank. Yu is the chairman of formerly listed Nan Hai Corporation, the parent company of online media outlet HK01. The court heard that the creditor, CCB International Overseas Limited,…
Online media HK01 founder Yu Pun-hoi was declared bankrupt on Tuesday for failing to repay his debt of more than HK$416 million to an investment bank. Locally based CCB International Overseas Ltd had previously filed a bankruptcy petition against Yu at the High Court. It was reported that a company owned by Yu, Pippen Ltd,…
The number of Australian businesses falling into insolvency for the first time has jumped to 967 in February 2024, according to newly released data from the Australian Securities and Investments Commission (ASIC). This is the highest point it has ever hit since 2015 according to ASIC, and is a 74% lift on the prior month.…
Katie Price has said she missed a court hearing where she was declared bankrupt for the second time because she was “dealing with serious stuff”. The former glamour model and TV personality owes nearly 762,000 to HM Revenue & Customs (HMRC), which issued a bankruptcy petition last October. The debt comes from her tax self-assessments…