The refinery RAFO Onesti filed for insolvency again, five years after the company had managed to exit a seven-year restructuring process, in 2011. On October 27 this year, Bacau Court approved the insolvency request of RAFO Onesti appointing Casa de Insolventa Transilvania (CITR) as the judicial administrator, reports local Profit.ro. At the end of last…
Roberta Williams, the former wife of gangland killer Carl Williams, has been declared bankrupt after the Australian Tax Office pursued her for almost $300,000 in unpaid taxes in the Federal Court. The court handed down an order on Tuesday morning that backdated Ms Williams’ bankruptcy to May 17 and allowed the ATO to claim costs of $7203.80…
Minister of Justice, Abubakar Malami Formal insolvency law procedures are usually collective and centralised, overriding certain pre-insolvency agreements in order to achieve laid down objective(s) for the benefit of all creditors. In contrast, arbitration favours privity of contracts and party autonomy. Parties agreement to arbitrate their dispute is considered as sacrosanct regardless of the circumstances.…
Roberta Williams, the former wife of serial killer Carl Williams, has been declared bankrupt after the Australian Tax Office pursued her for almost $300,000 in unpaid taxes in the Federal Court. The court handed down an order on Tuesday morning that backdated Ms Williams’ bankruptcy to May 17 and allowed the ATO to claim costs of $7203.80 against her…
The City of Edmonton in Alberta, Canada, is trying to get back some of its $9.4 million investment in Greys Paper Recycling Facility, which declared bankruptcy earlier this year. The citys investment helped the company with costs for land, equipment and the building located at the Edmonton Waste Management Centre. While the city hoped a…
Charles Johnson’s celebrated National Book Award-winning 1990 novel, “Middle Passage,” reconfigured classic allegorical stories of 19th-century seafaring life, a la Herman Melville, through the complex late-20th-century lenses of race, class and gender. That may sound like heavy going, but Johnson’s book is also a ripping yarn, a thrilling bildungsroman and rich in comic detail, with…
The bankruptcy application from US fund Cerberus to have independent TD and former property developer Mick Wallace placed in bankruptcy adds a new layer to what is already a complex relationship. Wallace has used his position as a public representative to attack relentlessly the State-owned National Asset Management Agency (Nama) and how it has gone…
The bankruptcy application from US fund Cerberus to have independent TD and former property developer Mick Wallace placed in bankruptcy adds a new layer to what is already a complex relationship. Mr Wallace has used his position as a public representative to relentlessly attack the State-owned National Asset Management Agency (Nama) and how it has…
The High Court has adjourned for a month an application to bankrupt Independent TD Mick Wallace. The application arises out of a 2m judgment obtained earlier this year against him by a company called Promontoria (Aran) Ltd which took over the TDs debt to Ulster Bank. Edward Farrelly BL, for Promotoria, told Ms Justice Caroline…
UK household debt has swollen to £1.5trn in the UK for the first time, with indebtedness growing at the fastest rate since before the credit crunch of 2007, according to new research. Before the peak of the financial crisis in 2008, personal debt in the UK reached £1.4trn. Following a recent low of £1.36trn in…