By Martin North, cross-posted from the Digital Finance Analytics Blog: The Australian Financial Security Authority today released the personal insolvency activity statistics for the June quarter 2016. Total personal insolvencies increased 13.7% in the June quarter 2016 compared to the June quarter 2015. This is the largest rise since the March quarter 2009, when compared…
Ben Harvey – The West Australian on July 13, 2016, 7:22 am Joe Gutnick. High-flying Melbourne businessman Joseph Gutnick has declared himself bankrupt. The Melbourne Football Club tragic, who was nicknamed Diamond Joe, owes more than $275 million. He made the declaration on Friday in a move seen as pre-empting Indian fertiliser giant, the Indian…
Mining magnate Joe Gutnick has declared bankruptcy with $275m in debts Former Melbourne Football Club president was once worth $300 million Deal with India’s largest fertiliser collective turned sour after legal fight Statement of claim shows Mr Gutnick owes Indian company $54 million By Emily Crane for Daily Mail Australia Published: 08:31 EST, 13 July 2016…
Details Published on Tuesday, 12 July 2016 16:00 View Comments “Today is July 11th and the day that PakaTun people say is the day that supposedly Malaysia’s MoF will be declared bankrupt by the London “court” because of 1MDB,” wrote blogger Lim Sian See in a Facebook post yesterday. What bankruptcy day? If you can…
Details Published on Tuesday, 12 July 2016 16:00 View Comments “Today is July 11th and the day that PakaTun people say is the day that supposedly Malaysia’s MoF will be declared bankrupt by the London “court” because of 1MDB,” wrote blogger Lim Sian See in a Facebook post yesterday. What bankruptcy day? If you can…
The bankruptcy is the latest chapter in Joe Gutnick’s colourful career. Photo: Jesse Marlow Mining magnate “Diamond” Joe Gutnick was once ranked among the wealthiest men in the country, with a fortune totalling more than $300 million. Now the former Melbourne Football Club president has declared himself bankrupt, with debts totalling more than $275 million,…
By Sebastian Shakespeare for the Daily Mail Published: 10:23 EST, 12 July 2016 | Updated: 10:52 EST, 12 July 2016 View comments Nigel Farage is still celebrating the historic Leave victory in the EU referendum but the champagne has lost its sparkle for his little brother. Commodities broker Andrew Farage has been declared bankrupt, I…
Everett Collection The 2016 Social Security Trustees report showed a continuation of the current trend toward insolvency of both of its trust funds. The Trustees estimate that Social Security’s combined retirement and disability trust funds will… Read the full article at: http://www.marketwatch.com/story/social-security-insolvency-is-now-one-year-closer-2016-07-11
Turkey’s leading shoe retailer, Arrow, has been officially declared bankrupt, according to an Istanbul bankrupt office. The shoe retalier Arrow, based in Istanbul’s Ginza Lavinya Park mall in the district of Beylikdüzü, was declared bankrupt by 1st Commercial Court of First Instance on June 23, Bakrköy bankrupt office said on Monday. The judge’s decision ended…
LAST WEEK, we examined the circumstances in which directors (and sometimes shareholders) can be personally liable for the debts of their company (“When are directors personally liable for corporate debt?” BT, July 4). This week, we look at a company that is insolvent (or nearly so), and how that may also give rise to a…