The Hong Kong government is right to draw a link between innovation, international competitiveness and future prosperity. Chief Executive CY Leung believes innovation enhances quality of peoples lives and supercharges our economic engine. In competition with markets like Singapore, he wants to win the race to develop high value-added innovation and technology industries and make Hong…
Slater and Gordon is facing a $250 million class action from Maurice Blackburn. Listed law firm Slater & Gordon is facing a class action that is $100 million bigger than its market cap, but it is unlikely to drive the law firm to insolvency, says Maurice Blackburn. On Wednesday, Maurice Blackburn filed a $250 million class action on…
Facts Decision Comment A recent Supreme Court judgment addressed the issue of maritime liens and the remuneration of shipping companies’ court-appointed managers by adopting a strict interpretation of the maritime liens rules. According to such interpretation, judicial managers should not be considered a company’s preferred creditors for their remuneration. Facts The court appointed two…
KUALA LUMPUR, 8 Oct 2016: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and September 2015, according to the Malaysian Financial Planning Council (MFPC). Deputy president Michael Kok Fook On said this group of people fail to manage their financial resources and do not understand the importance of proper…
Insolvency practitioners have confirmed that the company operating the Devon wedding venue used by Peter Andre has ceased trading leaving brides-to-be, unpaid staff and suppliers thousands out of pocket. Mamhead House and Castle Ltd is said to owe £150,000 to a string of creditors including brides due to get married at the luxury venue. Now,…
A bankrupt haulier has been disqualified for 18 months after he encouraged his former stepdaughter to apply for an O-licence as a front for him. Sean Mullins, who traded as Sean Mullins Transport, attempted to avoid the effect the revocation of his O-licence would have on his business by persuading Kerry Mullins to make an…
Johannesburg – Road Accident Fund (RAF) chief executive Eugene Watson confirmed that the institution had been insolvent since 1981 and last week had an unfunded liability of R145 billion, which was equivalent to 3.5 percent of South Africas gross domestic product. Watson, who was appointed in 2012, told Business Report in an interview that the…
Public comments sought by Oct 28 New Delhi, October 9: The Centre is moving ahead full throttle to implement an effective insolvency and bankruptcy regime, which is expected to help improve Indias ease of doing business ranking. On the heels of setting up an Insolvency and Bankruptcy Board of India (IBBI), the Centre has framed…
KUALA LUMPUR: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and Sept 2015, according to the Malaysian Financial Planning Council (MFPC). MFPC deputy president Michael Kok Fook On said this group of people failed to manage their financial resources and do not understand the importance of…
A LEIGH-based investment company left its registered office in Madeira Avenue without notice when the Insolvency Service began investigating its gold mine investment scheme. It was reported that the company refused to co-operate with the Insolvency Service before vacating tis offices. Five firms, including Santo Montana LLP in Madeira Avenue and Lorem Ipsum Trade…