ASIC has disqualified two unrelated directors for multiple company failures that left almost $11.5 million in debts including more than $9 million to the ATO. Athina Bragiannis of Preston, Victoria, has been banned for three and a half years for involvement in the failure of two property development companies, Cleveland Lodge Developments and Bellbird Estate…
New Delhi: Rising instances of bankruptcy actions by creditors under Indias Insolvency and Bankruptcy Code (IBC) against distressed companies are fuelling the growth of forensic audits, and signifies the increasing importance of such audits in providing evidence for court proceedings, said experts. Forensic auditors scrutinize financial records to unearth evidence, including irregularities, which are relevant…
Sep 2, 2023 Attorney-General Mark Dreyfus says bankruptcy laws should serve debtors, while protecting creditors. -AAP Image The time allowed for a debtor to respond to a bankruptcy notice could be raised under reforms being considered by the federal government. Attorney-General Mark Dreyfus is seeking to overhaul the Bankruptcy Act, releasing a discussion paper outlining…
CHARLESTON 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 million in…
VanMoofers, rejoice the ebike gods have not abandoned you. Yesterday, McLaren Applied and its escooter department Lavoie announced they had agreed to purchase the bankrupt ebike startup. The details of the deal have not been made public. However, the F1 engineering and technology company stated that it would invest in stabilising and expanding VanMoofs existing…
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 state’s northern district. According to the filing, the university estimated it had between $1 million and $10 million in total…
Katie Price said being married costs a lot of money as she faces a new bankruptcy hearing (Picture: Instagram / Katie Price) Katie Price has despaired over her past marriages costing her money as she grapples with bankruptcy. The former glamour model, 45, has been married three times and engaged to multiple other men, including…
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…