The Australian Government has today released proposed reforms to the Bankruptcy Act 1966 (Bankruptcy Act) for consultation. This paper is a direct result of feedback received through a national roundtable on personal insolvency which I chaired in March this year involving 24 organisations with an interest in personal insolvency – including credit, finance, accounting, legal…
The labyrinthine tale of Greg Martel, the alleged financial fraudster, took a decisive tilt on Thursday. Following a hearing in the B.C. Supreme Court in Victoria, Martel was declared personally bankrupt, a move designed to expedite the recovery of his assets by the receiver in the case, PricewaterhouseCoopers (PwC). The primary assets PwC seeks to…
Updated Sep 1, 2023 2.36pm, first published at 6.59am Key Posts Advertisement 25 mins ago 2.36PM Wrap of the day That is it for today, the first day of Spring. Here are our top stories for the day -ACCC seeking $250m fines against Qantas to scare all businesses: The competition watch dog is seeking penalties…
China is Denmarks fourth largest trading partner, so the recent slowdown in the Chinese economy will hit Danish growth, according to calculations from Danmarks Nationalbank. There are signs that the crisis in the housing market in China is spreading to parts of Chinas financial sector. It gives many investors nervous twitches, Kim Fster, chief analyst…
The Australian Government has today released proposed reforms to the Bankruptcy Act 1966 (Bankruptcy Act) for consultation. This paper is a direct result of feedback received through a national roundtable on personal insolvency which I chaired in March this year involving 24 organisations with an interest in personal insolvency – including credit, finance, accounting, legal…
The Australian Government has today released proposed reforms to the Bankruptcy Act 1966 (Bankruptcy Act) for consultation. This paper is a direct result of feedback received through a national roundtable on personal insolvency which I chaired in March this year involving 24 organisations with an interest in personal insolvency including credit, finance, accounting, legal sectors…
ASIC has disqualified Stefano De Blasi of Stafford Heights, Queensland, from managing corporations for four years, after his involvement in three failed companies. Mr De Blasi was a director of three companies between 2014 and 2020: Casa Gusto Pty Ltd (ACN 141 576 703) (de-registered) (Casa), SMC Drummoyne Pty Ltd (ACN 600 533 140) (SMC),…
CHARLESTON, W.Va. (AP) A small, private university in West Virginia declared bankruptcy on Thursday, a month after announcing that it planned to stop operating. Alderson Broaddus University filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court for the states northern district. According to the filing, the university estimated it had between $1 million and $10…
Tradies and homeowners have been left reeling from the news that a Sydney building company has gone bust. Last Thursday, on August 24, Simone Homes Pty Ltd went into voluntary liquidation. The family-run business was headquartered in Leppington in Sydneys southwest and its liquidator is now Bradley John Tonks of insolvency firm PKF. According to…
TAICHUNG, Taiwan (BRAIN) Bike manufacturer Ideal Bike Corp. says its representative will make claims worth $1.52 million at a creditors meeting being held Monday by VanMoof Asia Ltd., a Taiwan-based business related to the Netherlands-based e-bike brand. VanMoof’s Netherlands businesses, Vanmoof B.v. and VANMOOF Global Support B.V. , were declared bankrupt in July. On Thursday, the British-owned mobility…