Quoting data from the Malaysian Department of Insolvency (MdI), Prime Minister Datuk Seri Ismail Sabri Yaakob said Selangor had the highest number of individuals declared bankrupt, at 2,555, followed by the Federal Territory (1,288 people) and Johor (792 people). Bernama pic KUALA LUMPUR, Sept 28 A total of 10,317 individuals have been declared bankrupt throughout…
A TOTAL of 10,317 Malaysians have been declared bankrupt from the onset of the Covid-19 pandemic in March 2020 to July 2021, Prime Minister Ismail Sabri Yaakob (Bera-BN) said. During the same period, about 1,246 businesses closed down for good due to the movement control order (MCO), Ismail said in a parliamentary written reply to…
STUFF Rajesh Luthra and his wife Tripta Tripta have recently moved into a new home in Rolleston. August 5 was the day Rajesh Rocky Luthras company Sudesh Foods crashed and burned. But just a day later, Luthera started a new company, Van de Broods Ltd. Luthra set up Sudesh Foods in February 2015 to sell…
The Commerce Court number 1 in Las Palmas de Gran Canaria agreed this week to declare necessary bankruptcy for tourism companies Anfi Sales SL and Anfi Resorts. There will be an appeal against that judgement heard before the Provincial Court, although it will not be suspensive, that is to say it will not impede the…
For general notes on individual insolvency statistics in England and Wales please see the quarterly Insolvency Statistics publication, which is the definitive source of the number of new cases each year in England and Wales, and the rate per 10,000 adults. The latest document can be found on the gov.uk website. The annual statistics in…
Behind an old church in the heart of Preston in Melbourne’s north, a remarkable transformation is taking place. For years the vicarage at the back of St Mary’s Anglican church lay empty, the house growing mould inside, the garden overgrown with weeds and overrun with vermin. Now a team of urban agriculture farmers are turning…
1 INTRODUCTION: DIRECTORS’ DUTIES IN A CRISIS Relief from directors’ duties to avoid trading whilst insolvent has been a common global response to the economic crisis precipitated by the COVID-19 pandemic.1 These duties are configured in legislation in different ways, depending on the jurisdiction, including as a prohibition on insolvent, wrongful or fraudulent trading, or…
The day after the Blues announced Michael Voss as their new coach, they announced the passing of long-time president John Elliott, just 10 days shy of his 80th birthday. His son Tom, a talk show host on radio station 3AW, confirmed the news, “It is with great sadness that we announce the death of John…
Banks have taken the initiative to implement personal insolvency against defaulting promoters buoyed by the Supreme Courts endorsement of the law in May. The latest data released by the Insolvency and Bankruptcy Board of India (IBBI) show that 56 new cases were filed in the first quarter ended June, almost half of the total 128…
As the country went into lockdown from March 2020, the government was rightly concerned with ensuring that support measures reached people and businesses in need as quickly as possible. This led to an unprecedented level of funds being made available using new schemes and mechanisms. Moratoriums on enforcement action included protection for directors against liabilities…