(Bloomberg) — DocuSign Inc. is cutting about 6% of its workforce as part of a restructuring effort after talks to sell itself appear to have stalled. Most Read from Bloomberg The move will mostly affect staff in sales and marketing, the company said in a statement on Tuesday. DocuSign had 7,336 employees at the end…
DetailsFugitive former lawmaker Ted Hui Chi-fung has been declared bankrupt for failure to pay the legal costs of proceedings and criminal offences he was involved in before he fled Hong Kong in 2020. High Court Master Kent Yee Kai-siu issued the bankruptcy order against Hui on Tuesday. Hui, who failed to pay the fees for…
DetailsThe Insolvency and Bankruptcy Board of India has removed the restriction preventing the same insolvency professional from participating in both the resolution process for a company and for its individual guarantor. This will reduce the risk of misrepresentation and concealment of information, as the same RP would be involved in both processes, according to Alay…
DetailsThe corporate regulator has given the red card to convicted soccer shirt swindler Mark Donnellys Pommy pension investment company amid clams that clients funds were intentionally and systematically misappropriated. In a successful application to have Mr Donnellys Brite Advisors Pty Ltd put into liquidation, the Australian Securities and Investments Commission claimed this alleged abuse of…
DetailsCorporate insolvencies were up almost 14 per cent in 2023 a trend which is likely to continue through the coming months unless the economic picture improves, according to trade body R3. New data from the governments Insolvency Service has shown 25,158 seasonally adjusted corporate insolvencies last year. Promisingly though, personal insolvencies for 2023 were down…
DetailsA Vancouver real estate lawyer who admitted to misappropriating more than $8 million from client trust funds to feed his gambling addiction has been banned from practising law for seven years. Russell Sean McDonough signed a consent agreement with the Law Society of B.C. last week, admitting to professional misconduct in 34 instances of misappropriation…
DetailsFrom 1 January 2021, Australias insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive specifically, by providing these businesses with simpler, more flexible restructuring options outside the existing one size fits all voluntary administration and scheme of arrangement processes available…
DetailsUBS financial adviser Brenda O’Connor Juanas and Sit Investment Associates Sr. Vice President Bryce Doty preview 4Q earnings reports, discuss Walmart stock grants and give their economic outlooks. Cosmetics company Estee Lauder announced on Monday that it will cut up to 5% of its global workforce as part of a restructuring plan. The company, which…
DetailsBy Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 10:50 AEDT, 5 February 2024 | Updated: 21:05 AEDT, 5 February 2024 One of Australia’s biggest construction companies has stopped work in three states and appointed administrators as higher interest rate… Read the full article at: https://www.dailymail.co.uk/news/article-13044929/One-Australias-biggest-construction-companies-stops-work-plunges-administration.html
DetailsAs the Tamil Nadu Government kickstarted the process of unbundling its energy distribution company with the formation of three companies, a major challenge awaits pertaining to the breakdown of accumulated losses of the power utility as the financial restructuring has not been done yet. Last week, the state Energy Department issued an order for the…
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