Maria Tupou was having dinner with her husband, Sio, in April when he delivered some bad news. Sio had just learned they could lose the $30,000 deposit they paid to construction firm Porter Davis to build their “forever home” in Wollert, a suburb in Melbourne’s outer north. They signed a contract with Porter Davis in…
Source: Straits TimesArticle Date: 03 Jun 2023Author: David Sun About $89.7 million was lost to scams in 2016, with the number ballooning to $660.7 million in 2022. Scams are here to stay, with scammers devising new tactics and technologies to prey on victims. Deputy Public Prosecutor Gordon Oh Chun Wei reveals how the Attorney-Generals Chambers…
SINGAPORE – Scams are here to stay, with scammers devising new tactics and technologies to prey on victims. Deputy Public Prosecutor Gordon Oh Chun Wei reveals how the Attorney-Generals Chambers has prosecuted some scam cases and brought the culprits to justice. Case 1: Renovation scam victims cheated of $1.8 million All they wanted was a…
New Delhi: Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under…
A Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond is expected to be dissolved after the failed retailer declared bankruptcy, but the company’s crown jewel Buy Buy Baby may live to see another day. The…
Tarun KohliPublish Date: 02 Jun, 2023 The central government is getting ready to provide significant compensation to homebuyers who did not receive their properties’ ownership rights soon. In reality, the government is considering introducing a plan that would allow for the registration of completed residential complexes’ units whose builders have declared bankruptcy. The idea, as…
Puan Chan Cheong led Green Packet Bhd to its Main Market listing in 2005, and by 2007 it had attained a market capitalisation of US$1 billion, granting it the coveted unicorn status. (Facebook pic) PETALING JAYA: Puan Chan Cheong founder of Green Packet Bhd, Malaysias first unicorn has been declared a bankrupt by the Kuala…
Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under verification”, said…
Debt Justice welcomes the decision by the financial regulator to ban debt packager fees. Debt packagers receive commission for referring people in debt to fee-charging solution providers. Referral fees therefore incentivise debt packagers to promote Individual Voluntary Agreements (IVAs) as a solution to people in debt, over other, often cheaper and more appropriate, solutions, such…
SponsoredAlternative LendingDigital BankingSavings and InvestmentCrypto Managing an invocation is high-pressure work that requires expertise, speed, and clarity. Having successfully managed two complex invocations in recent months, we explain the key steps to making the process as streamlined and effective as possible. Owain Chambers, Account Director for Capital Markets at fintech leader Lenvi, reports. Image source:…