Earlier this year, both the lower and upper houses of Malaysias parliament, passed the Companies Bill 2015 (the Bill) which will harmonise Malaysia’s insolvency laws and bring them more in line with modern international standards. Once the Bill comes into effect (it is currently awaiting Royal Assent), it will replace Malaysias existing Companies Act…
First of four parts Not known to all lawyers, the Supreme Court (SC) promulgated the Financial Liquidation and Suspension of Payments Rules of Procedure for Insolvent Debtors (FLSP Rules ) on April 21, 2015. The FLSP Rules is the second of two sets of rules of procedure promulgated by the SC to implement the Financial…
Guvera co-founders Darren Herft and Claes Loberg. Wayne Taylor Guvera had plans to float on the London Stock Exchange before its Blinkbox operation in Britain failed spectacularly, forcing the company to try its fortune on the Australian Stock Exchange instead, court documents reveal. The news comes ahead of Thursday’s first creditors meeting at Deloitte’s Parramatta office in western Sydney, where…
Stock-Markets / Financial Crisis 2016 Jul 06, 2016 – 07:12 AM GMT By: James_Quinn Just over a week ago the world was coming unglued, as enough British citizens grew a pair and spit in the face of the EU establishment and global elite by voting to exit the EU. The fear mongering by central bankers…
Comments (0) Swansea charity Cyrenians Cymru has said that there is no ‘immediate threat’ to its programmes – despite being declared insolvent and a second staff member under investigation for fraud. The BBC has also reported that the charity is now speaking to all the organisations it works with to plan how to keep its work going.…
Bike Share Toronto is adding 120 new stations. The program currently has over 4,000 annual members and 35,000 casual users. (Steve Russell / Toronto Star) | Order this photo By Ben SpurrTransportation Reporter Tues., July 5, 2016 The past five years have been a bumpy ride for Torontos fledgling cycle-share program. Since its launch in 2011,the…
Before June ended, a major hospitality group with around 20 restaurants across Australia went under receivership. The incident confirms many local companies are finding the local business climate no longer healthy in Australia, particularly in view of the end of the mining boom. Sydney Morning Herald reports that the number of Australian companies which went…
A QUEENSLAND vegetable processing business has been sold after going into voluntary administration last month. Administrators, the Robson Cotter Insolvency Group, were appointed to the Boonah-based business Bunny Bite Foods (previously Bunny Bite Farms) on June 8. An initial creditors meeting was held on June 20, with a second scheduled for Monday, July 15. A…
State-financed Deposit Guarantee Fund head Kostyantyn Vorushylyn told the Kyiv Post on June 21 that he wants a public registry of those responsible for unpaid loans. Photo by Anastasia Vlasova As he spoke with the Kyiv Post on June 20 at the Deposit Guarantee Fund, Kostyantyn Vorushylyns voice was constantly interrupted by angry protesters yelling…
Prime Minister Malcolm Turnbull feels the heat in the kitchen. David Rowe The 2016 election debacle presents Prime Minister Malcolm Turnbull with the chance to not only shine but defend Australia’s commitment to global trade and international competitiveness. That’s the view of Brian McNamee, the man who took the government owned Commonwealth Serum Laboratories from…