Dozens of ASX-listed companies are on the brink of collapse and in need of drastic change to turn things around, with potential investors warned to be on the lookout for zombie firms. According to data from big four accounting firm KPMG released on Monday, there has been a disconcerting rise in zombie companies in the…
ASIC has prosecuted 100 individuals for failing to assist liquidators with insolvency proceedings, reaping over $430,000 in fines during the first half of the year. The 100 prosecuted individuals were guilty of 194 offences under the Corporations Act 2001 by not providing liquidators with access to company books and failing to submit a report on…
Article content An Alberta woman forced into bankruptcy after taking out loans to help her alleged boyfriend fight a bogus impaired driving charge wept in court as she recounted his betrayal. Anthony Renella-Dugas was sentenced to 21 days in jail Oct. 24 after pleading guilty to a charge of fraud over $5,000. The 30-year-old was…
With the recent downgrades issued to several banks by Moodys and S&P in August, as well as the recent banking turmoil which occurred earlier this year, and the flurry of assignment activity in the market, lenders and borrowers alike have become increasingly focused on deposit accounts. In a typical subscription credit agreement (each, an SCF),…
The general contractor for the Lorraine Street transitional housing complex in Sudbury declared bankruptcy earlier this month, leaving the project in limbo. Work continued on site until Oct. 13, a city spokesperson confirmed to Sudbury.com, noting the second-floor installation was completed, weather-proofed, cleaned and secured. Sudbury.com visited the site on Oct. 26, and found a…
With the recent downgrades issued to several banks by Moodys and S&P in August, as well as the recent banking turmoil which occurred earlier this year, and the flurry of assignment activity in the market, lenders and borrowers alike have become increasingly focused on deposit accounts. In a typical subscription credit agreement (each, an SCF),…
ASIC has prosecuted 100 individuals from 1 January 2023 to 30 June 2023 for failing to assist registered liquidators. These prosecutions follow the failure of company officers and other individuals to comply with key governance obligations to provide registered liquidators with access to company books and submit a report on company activities and property (ROCAP)…
Reuters. Bajaj Hindusthan Sugars, an integrated sugar and ethanol manufacturer, has successfully reduced its debt from Rs 4,500 crore to Rs 500 crore, leading to the dismissal of an insolvency petition against the company. The National Company Law Tribunal (NCLT) approved the withdrawal of the petition by the State Bank of India (SBI), following a…
Companies Champion Trust Llc Follow NEW YORK, Oct 26 (Reuters) – Lawyers for FTX founder Sam Bankman-Fried kicked off their case at his fraud trial on Thursday following 12 days of prosecution testimony in which former colleagues at the now-bankrupt cryptocurrency exchange said he directed them to divert customer funds to his hedge fund and…
By Codie Bullen For Mailonline Published: 20:28 AEDT, 26 October 2023 | Updated: 20:29 AEDT, 26 October 2023 Katie Price has hit back at cruel trolls who slammed her for getting hair extensions despite claiming to be ‘skint’. The former glamour model, 45, was declared bankrupt… Read the full article at: https://www.dailymail.co.uk/tvshowbiz/katie-price/article-12674741/Katie-Price-furiously-hits-fans-slammed-bankrupt-model-getting-expensive-hair-extensions.html