More than two dozen migrant workers at labour hire company, Buildhub, who used their life savings to move to New Zealand say their future is in limbo after the firm went into liquidation a week ago. The company, an approved employer under Immigration New Zealands (INZ) Accredited Employer Work Visa scheme, has been actively recruiting…
Analysis and Commentary on the Insolvency Statistics Q2 2023 The quarterly insolvency statistics for April to June 2023 show that corporate insolvencies across the UK1 are at a 14-year high. Increased insolvencies appear to be continuing with the monthly statistics for both August and September 2023, showing corporate insolvency numbers were higher than the same…
An Australian music company led by a director with a criminal conviction has been spared from going into liquidation, for now. News.com.au previously reported that NSW-based music company, Blue Pie Records, with offices in Australia and the US, had landed itself in hot water over claims from musicians that the record label had used their…
An Australian music company led by a director with a criminal conviction has been spared from going into liquidation, for now. News.com.au previously reported that NSW-based music company, Blue Pie Records, with offices in Australia and the US, had landed itself in hot water over claims from musicians that the record label had used their…
MUMBAI: Mediation will help to reduce the burden on National Company Law Tribunals (NCLTs) and especially disputes between operational creditors and defaulting companies will get resolved faster, feel lawyers. They added that the manufacturing and real estate sectors stand to gain most.Empower Your Corporate Journey with Strategic Skill Courses Offering College Course Website Indian School…
Embattled mainland Chinese property developer Sunshine 100 is evaluating the impact of a winding-up order for its controlling shareholder, whose beneficiaries include its chairman and executive director, according to a filing with the Hong Kong exchange. Sunshine 100 said it had recently been informed of the winding-up order, issued by a Hong Kong court dated…
Normal text sizeLarger text sizeVery large text size Melbourne Rebels directors have overcome opposition from Rugby Australia to win more time from a court as they attempt to save the debt-ridden Super Rugby club. Federal Court Judge Catherine Button granted a 60-day extension on Thursday that will now allow the Rebels board to propose an…
Many policymakers have used safeguarding tools to protect funds against loss of value and illiquidity risk, but the rules may not provide sufficient safety in practice. For example, many common law countries require mobile money firms to store funds in a trust. A trust structure aims to ensure funds provided by customers are unreachable by…
Lynda Carter was a director and the majority shareholder of All Sign Solutions Ltd, based in Margate. The Insolvency Service report into her conduct found that she had applied for a second BBL of 20,000 when she knew or should have known that the company was not entitled to the money. She had previously applied…
Documents reveal the popular late-night haunt failed to pay employees superannuation, suppliers invoices and more. Newtown Oporto is expected to reopen as soon as possible, after more than $758,000 of unpaid tax, superannuation and more led its former franchisee to close the store and collapse into liquidation on Friday. The fast food franchise, owned by…