Sophie Morris – The West Australian on July 19, 2016, 12:34 am Illustration: Toby Wilkinson Like doomed footsoldiers on the blood-soaked battlefield of the Somme in 1916, subcontractors in the construction industry are so numerous, they are considered expendable. Thats the startling analogy cited by a Senate committee report into insolvencies in the industry, underlining…
India recently passed a new bankruptcy code that promises tougher action against corporate defaulters. But, as lawyers tell Ranajit Dam, having it implemented quickly and easily might be a challenge. With reporting by Manoj Kumar of Reuters According to the World Banks Ease of Doing Business Rankings 2016, India ranks 130 out of 189 economies,…
Illinois health insurer announces liquidation as Obamacare co-ops collapse By Kristina Betinis 18 July 2016 Last week Illinois Land of Lincoln Health insurance co-op announced plans to liquidate, affecting health insurance for more than 49,000 people in the state. This is the sixteenth liquidation of an insurance co-op established in 2013 as part of…
Illinois health insurer announces liquidation as Obamacare co-ops collapse By Kristina Betinis 18 July 2016 Last week Illinois Land of Lincoln Health insurance co-op announced plans to liquidate, affecting health insurance for more than 49,000 people in the state. This is the sixteenth liquidation of an insurance co-op established in 2013 as part of…
Related Story: Massive solar-powered glasshouse in NSW set to employ refugees An ambitious project to build Australia’s largest glasshouse is now in doubt, with the business put into voluntary administration. Maria’s Farm Veggies at Williamtown, north of Newcastle, was to include a glasshouse covering 16 hectares, producing 15,000 tonnes of vegetables…
Signs of recovery in the coal mining sector have come too late for former BRW Rich 200 member Mark Ackroyd, whose National Plant & Equipment went into voluntary administration on July 13. KordaMentha has assumed control of the mining equipment sales and leasing business, for which Japanese giant Mitsui paid $150 million for a 49.9 per cent…
18 July 2016 Emma Ryan View Comments National law firm HWL Ebsworth Lawyers has recently announced the appointment of partners from three major firms. Michael Palfrey and Sam…
On 25 May, the Insolvency Service published a consultation paper on options for reform of the UK’s corporate insolvency regime. Their impetus is for the UK to remain at the forefront of insolvency best practice to ensure businesses, investors and creditors remain confident that best outcomes can be achieved when faced with financial…
Travel company crashes leaving holidayers in the lurch HUNDREDS of thousands of British travellers face losing their holidays and their money after the Lowcostholidays group went bust last night. The online travel company had 27,000 passengers currently in resorts across the globe and more than 110,000 customers with forward bookings for the peak summer months…
The National Company Law Tribunal (NCLT) was recently announced as the adjudicating authority for insolvency proceedings relating to companies, limited liability partnerships and other body corporates under the Insolvency and Bankruptcy Code 2016,(1) with effect from June 1 2016.(2) The National Company Law Appellate Tribunal (NCLAT), which will hear appeals from NCLT decisions, has…