A new committee set up to complement ASICs functions has released the names of lawyers appointed to its ministerial pool. The creation of the federal Insolvency Disciplinary Committee is part of a new Australian corporate insolvency regime that has been enacted in 2016. Minister for Revenue and Financial Services Kelly ODwyer announced last week nine…
3 min read Nagpur: Create economic uncertainty by indulging in financial mismanagement and corruption seems to be the most-liked but equally dubious modus operandi of companies to go bankrupt in order to dodge the action of their creditors. The Jayaswals of Neco, Nairs of Orange City Hospital, Nairsons of coal companies and many such more…
The boss of a Sheffield city centre restaurant, bar and brewery declared insolvent with debts of £1 million has taken to Facebook to explain the venue’s “severe difficulties” in a frank video. Alex Barlow, owner and founder of the Sentinel Brewhouse in Shoreham Street, has revealed that unexpected building costs and a batch of stolen…
Are you a convicted criminal? A former bankrupt? Someone banned from holding a liquor licence in Victoria for 15 years? Is your business partner a member of a notorious outlaw motorcycle gang? Are you currently facing serious criminal charges? If the answer is “yes” to the above, then a career in real estate could still be…
by Nelson Del Castillo and Elodie Cuzin in Washington – AFP on June 11, 2017, 4:00 pm It’s complicated: Puerto Ricans vote on knotty US relationship San Juan (AFP) – To become a true US state, to choose independence or to maintain the status quo: Puerto Ricans will on Sunday mull their political future in…
A court in Aruba has declared Insel Air Aruba bankrupt, the Curacao Chronicle has reported. According to the newspaper, the court granted the airline a deferment of payment for a few months and it was not operating flights anymore. However, according to the report, there was no chance of selling the airline or restarting its…
The introduction of company director identification numbers to help prevent the deliberate liquidation of companies to avoid paying workers’ entitlements and tax is being considered by the federal government. A Federal Treasury spokeswoman told Fairfax Media the introduction of a director identification number had been recommended by a Productivity Commission inquiry and a Senate economics committee inquiry into insolvency…
actions against him are stayed,” said Justice Smith. It allows the debtor to avoid going to court. Smith said debtors “may come to the office and show us the details of their business. Once we are satisfied that they are insolvent, we will look now at the proposal, which is the scheme to deal with…
The State Police have detained Trasta Komercbanka liquidator Ilmars Krums and another insolvency process administrator, Maris Spruds, sources tell LETA. Krums’ mobile phone is switched off. When LETA tried to call Spruds at his office, Spruds’ representative said that he was out of office and would be away on vacation for a couple of days,…
ORANJESTAD, WILLEMSTAD – The Aruba court has declared the airline InselAir Aruba bankrupt. The court had granted the airline a deferment of payment for a few months and it did not operate flights anymore. There was no chance of selling the airline or restart operations. InselAir Aruba did not work on a stabilization plan, nor…