Comments (0) On this day in 1856, a meeting at the George Hotel declared Richard Greene bankrupt and confirmed the collapse of his bank, Lichfield Bank in Market Street. The bank had shut its doors on December 31 1855, much to the dismay of its many customers such as Lichfield Cathedral, the Conduit Lands Trust, the…
Former One Nation senator Rod Culleton has been officially disqualified from parliament almost three weeks after being declared bankrupt. Senate President Stephen Parry has informed Culleton and the West Australian Governor Kerry Sanderson that the federal Senate seat is now vacant. In December, Culleton became embroiled in a series of legal challenges which culminated in…
Marine Le Pen, the leader of the far-right French National Front, was seen in the lobby of Trump Tower this morning. The visit was unannounced and not on her schedule, nor, as far as its been reported, was it on the schedule of anyone on the Trump team. Le Pens aide wouldnt say why the…
WA corporate insolvencies in November last year fell to the lowest level since January with only 73 companies hitting the wall. FTI Consulting said ASIC data showed a falling rate of insolvency across Australia with the national figure for November of 636 companies folding lower than the 677 firms that failed the previous month and…
Lawyer Hong Guo’s law firm has filed an insolvency notice after millions were stolen from a trust account. NICK PROCAYLO / PNG A Richmond law firm hit by a massive trust fund shortage has filed a notice saying it is insolvent and will make a proposal to creditors under the Bankruptcy and Insolvency Act. Richmond lawyer…
The board was not concerned with default in bank credits or about the rising NPAs. It would mainly look into private creditors interest if their money got locked. (Illustration by: C R Sasikumar) The Bankruptcy and Insolvency Code will drive growth of debt market in India, which hardly exists in corporate and business financing, Dr.…
To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_01122017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:00 am: Insolvency and Bankruptcy Board Chairman M.S. Sahoo, State Bank of India Deputy Managing Director Pallav Mohapatra at conference on Insolvency and Bankruptcy Code 2016 in Kolkata. 11:00…
A business beyond redemption or revival asks for extreme measures to be taken. While it should stay the last option, it is always wise to know about liquidations. It also helps to set up your company, telling you all that you need if you ever run into a similar situation. A business beyond redemption or…
Melodramatic feuds are integral to “fake news” politics, and few are more unconvincing than the venom between Marine Le Pen, the wannabe French President, and her father, Jean-Marie Le Pen. Their staged schism is crucial to project Front National, the attempt by a notoriously racist and anti-Semitic far-right party to deliver Frances next head of…
Insolvency and Bankruptcy Board of India (IBBI) on Thursday said the new code is not meant to address any fraud on the part of company promoters but allows creditors and other stakeholders to go for a health check of the corporate at the first available opportunity. “The code is not…