Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
Mehajer, the former deputy mayor of the now defunct Auburn council, has launched a Federal Court bid to overturn his bankruptcy while he awaits a court ruling on whether he will be jailed for electoral fraud. Mehajer was declared bankrupt by the Federal Circuit Court on March 20 while he was in prison awaiting trial…
A DOCTORs surgery was forced to close last week after a GP was declared bankrupt. Abbey Surgery in Abbey Street, Accrington closed suddenly last Friday, leaving patients in the dark as to why the practice had shut. But the Lancashire Telegraph has learnt that Dr Alec Yolomoni Kapenda was made bankrupt in the High Court…
Introduction Facts Decision Comment Introduction The A Coruna Court of Appeals recently addressed two key issues relating to a shareholders’ right of separation regulated under Article 348bis of the Companies Act namely: when a separation is effective; and what happens when the credit right for reimbursement leads the company to insolvency.(1) Article 348bis…
India would do well to consider ushering in the concept of pre-packs in its insolvency regime, the National Company Law Tribunal (NCLT) President MM Kumar suggested. Pre-packaged insolvency (pre-pack) is a procedure where a company arranges to sell all or some of its assets to a buyer before declaring its insolvency (appointing administrator to facilitate…
Disgraced Sydney businessman Salim Mehajer is expected later this week to challenge a court’s insolvency ruling because “only God” has the power to declare him bankrupt. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and…
Former rugby star Frankie Sheahan in his playing days Photo: ©INPHO/Billy Stickland ‘I take 100pc responsibility for it’ – former rugby star Frankie Sheahan insists he holds no grudges over high profile bankruptcy Independent.ie FORMER Ireland and Munster rugby star Frankie Sheahan insisted he holds no grudges over his high-profile bankruptcy. https://www.independent.ie/incoming/i-take-100pc-responsibility-for-it-former-rugby-star-frankie-sheahan-insists-he-holds-no-grudges-over-high-profile-bankruptcy-36833523.html https://www.independent.ie/incoming/article35585539.ece/ca3ff/AUTOCROP/h342/bus1main.jpg Email FORMER…
The Insolvency and Bankruptcy Code is slowly evolving and coming of age through hundreds of petitions being instituted in various Benches of the National Company Law Tribunal (NCLT). When the stakes involved are of thousands of crores of rupees, the competition among stakeholders becomes intense; few crores get spend on lawyers fees, every single day.…
KUALA LUMPUR: Sixteen companies and 15 individuals were declared bankrupt after failing to settle RM8.18 million in arrears to the Inland Revenue Board (IRB). In a statement today, IRB said the 16 companies had a total of RM4.86 million tax arrears while the balance was owed by the 15 individuals. Based on the list provided,…
The resolution process for Essar Steel may undergo another round of bidding with sources indicating that both ArcelorMittal and Nu Metal could fail the eligibility test again after reconsideration of their applications by the committee of creditors (CoC) under the directions of Ahmedabad bench of National Company Law Tribunal (NCLT). Worlds largest steel maker ArcelorMittal…