As the focus on data analytics ramps up among the legal profession, one insolvency expert has highlighted that the need for professional scepticism is stronger than ever before. Professional scepticism is described as an independent state of mind that can form an opinion without being affected by factors that compromise judgement, according to Jirsch Sutherland…
Bari Palma is a candidate vying the Kerowagi Open Seat this election. He was declared insolvent, or bankrupt, by the Waigani National Court on June 1. Justice Derek Hartshorn declared him bankrupt after he failed to pay over K275,000 in legal cost from an Election Petition he had filed in 2013. This case is the first…
Darryl Downey An events promoter has avoided the threat of being jailed over a 250,000 debt to comedian Mario Rosenstock after being declared bankrupt. Dublin District Court heard that concert and events promoter Darryl Downey owed the money to Blue Elf Inc Ltd, a company owned by mimic Rosenstock. However, he was unable to keep…
No laughing matter The debt related to a number of live shows going back to 2012 AN events promoter has avoided the threat of prison over a 250,000 debt owed to comedian Mario Rosenstock after being declared bankrupt. Dublin District Court heard that concert and events promoter Darryl Downey owed the money to Blue Elf…
According to statistics from the Australian Financial Security Authority, the number of debtors who entered a personal insolvency in the ACT rose 26.9% in the March quarter (compared to the December quarter 2016). The main contributor to the increase was Belconnen, with the biggest rise in new debtors, followed closely by Gungahlin. The number of…
In the past year, more than 120,000 Canadians were declared insolvent. You know the one thing they didnt have to give up? The creditors may have been breathing down their throats, looking to get their hands on any assets, but they wouldnt have been able to penetrate the legislative vault their Registered Retirement Savings Plan…
By: ENS Economic Bureau | Mumbai | Published:June 21, 2017 2:10 am Among other companies which are facing bankruptcy action, Bhushan Steel rose by 8.91 per cent and Amtek Auto by 9.17 per cent. (File Photo) With banks planning to take up debt-laden Monnet Ispat & Energy for corporate insolvency resolution process (CIRP) under the…
According to sources, Sebi is planning to reduce the timeline for completion of takeover from six months to 30 days for acquirers in case of insolvency proceedings. Price discovery and disclosure-related rules in such takeovers are also expected to be relaxed. Sources said the regulator is considering doing away with the price…
Hyderabad, June 20: Shares of Lanco Infratech continued to witness a steep fall, touching an all-time low of 1.70, down 9.57 per cent, on the BSE on Tuesday. This is in addition to the fall of over 20 per cent over the past two days on news of bankruptcy proceedings making the rounds. RBI move…
MUMBAI: Bankers and metals maker Monnet Ispat & Energy agreed on Tuesday to reorganise the company under the Insolvency and Bankruptcy Code after it defaulted on its Rs. 12,000 crore even as its equity valuation remained less than a 12th of its total obligations to banks. But the agreement gave a sense of hope to…