Lex Greensills embattled Greensill Capital funding empire is down to just three board members in Australia after a raft of resignations, including two international directors and the chairman. Greensills chairman Maurice Thompson has resigned from the board along with former Morgan Stanley executive David Brierwood and US-based director Patrick Allin. Company records show they resigned…
A new airline is trying to muscle in on Australia’s ultra-competitive Sydney-to-Melbourne route, but its prospects of cracking the market open depends on who you talk to. Key points: Regional Express already flies to about 59 regional destinations However, it is expanding to include major metro markets Some argue Australia is unable to sustain a…
Published on :06 Mar, 2021 , 11:01 am The National Company Law Appellate Tribunal is the Apex Tribunal in the country dealing with all aspects of Corporate Law. The judgments pronounced by the Appellate Tribunal in the areas of Insolvency, Competition and Company Law regulate all elements of a companys functioning in India; from its…
RYAN ANDERSON/Stuff The Auckland High Court Russians, Italians, and the former owner of the Leeds United Football club want their $17m back from a small Auckland company. NF Global, directed by Auckland resident Claude Oberto, has been given until April by the High Court in Auckland to repay entities connected to the international businessmen. Associate…
The Kingdom of Saudi Arabia overhauled its corporate insolvency framework in 2018 with the introduction of a new bankruptcy law. In this client alert we examine the new Bankruptcy law in detail. Executive Summary The bankruptcy law that came into effect in the Kingdom of Saudi Arabia in 2018 reshaped the legal landscape with regards…
Photo by Tim Mossholder on Unsplash Abstract Entertainment is winding up after entering voluntary liquidation. The promoter and event planning business owes close to $700,000 to 95 individual creditors spanning ticketing companies, musicians, radio networks, venues and promoters. Its related entity, Abstract Touring, is still trading, and recently announced the Belinda Carlisle Tour of Australia…
The founder and CEO of an Australian restructuring advisory is urging struggling travel companies to urgently seek financial advice before JobKeeper is wound back. Last month, Mackay Goodwin was appointed to handle the voluntary administration process of JMW Travel, which traded as Victorian travel agencies Helloworld Monbulk and Helloworld Bentleigh, as well as Nexus Business…
Australian Fashion Labels has been acquired by a group of private investors, the company has shared. Australian Fashion Labels entered voluntary administration on January 6th 2021. The purchase includes the collective view to bring back employees, who were the heart of the company and grow further jobs in the fashion industry. This acquisition includes the…
by Mary Swire, Tax-News.com, Hong Kong 03 March 2021 The Inland Revenue Authority of Singapore has updated its guidance on the tax requirements for companies being liquidated and those under receivership. Companies that have commenced voluntary or compulsory liquidation will have a liquidator appointed by the company or the Court. The liquidator is required to…
Greensill Capital, the once high-flying financial company that counts former prime minister David Cameron as an adviser, is preparing to file for insolvency in the UK. People familiar with the matter said that the filing will allow private equity firm Apollo Global Management to buy parts of the business out of administration, in a prepack…