An Auckland property company that took millions in taxpayer funds to house the homeless has left Inland Revenue (IRD) and landlords out of pocket after going into liquidation. File photo. Photo: RNZ Silverfern Property Services has received more than any other outfit for emergency housing – $14.7 million – and charged nearly $2000 per client…
DetailsThe Government is to introduce new legislative reforms over the medium term to enhance the rights of employees facing collective redundancies following insolvency. In a new action plan, the Department of Enterprise and Employment says that in future workers affected by collective redundancy will in all cases have to receive 30 days notice. The plan,…
DetailsCredit cards are once again an incendiary topic for sports gambling bodies in Australia, lawmakers and anti-gambling bodies. Credit Cards Once in the Crosshairs of Lawmakers A bill sponsored by Senator Stirling Griff in Australia is facing pushback from the gambling industry as the legislation seeks to minimize the use of credit cards for the…
DetailsVirgin Active UK business restructuring sanctioned by the English Court BRAIT P.L.C.(Registered in Malta as a Public Limited Company)(Registration No. C97843)Share code: BAT ISIN: LU0011857645Bond code: WKN: A2SBSU ISIN: XS2088760157LEI: 549300VB8GBX4UO7WG59(Brait) VIRGIN ACTIVE UK BUSINESS RESTRUCTURING SANCTIONED BY THE ENGLISH COURT 1. Introduction Brait released update announcements on the website of the Luxembourg Stock Exchange…
DetailsSAN JOSE, Calif., May 11, 2021 /PRNewswire/ — When you’re struggling with credit card debt, rising balances on your monthly statements and collection calls can add to your anxiety. However, you don’t have to face your creditors alone. Many credit counseling agencies offer debt management plans (DMPs), which allow a counselor to act as an…
DetailsThe Midlands branch of insolvency and restructuring trade body R3 is urging company directors to plan ahead for the withdrawal of Government Covid support schemes, following a record low in quarterly insolvencies. Latest Government statistics for England and Wales show that there were 2,384 corporate insolvenciesin the first quarter of 2021, a reduction of 21.9%…
DetailsAustralia has announced plans to hit its offshore industry with a levy to cover the $200m cost of decommissioning an abandoned project off the countrys northern coast. The facility, known as Northern Endeavor, consists of a floating production, storage, and offloading vessel that had been permanently moored in the Timor Sea. The project was shut…
DetailsThe Insolvency Service will be given powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a strong deterrent against the misuse of the dissolution process. The process will no longer be able to be used as a method of fraudulently avoiding repayment of Government backed loans given…
DetailsAn official statement from the competition watchdog said the transaction notified by two new companies set up as part of IBMs internal reorganisationKyndryl Holdings LLC and Grand Ocean Managed Infrastructure Services Pvt. Ltdhas been approved. Livemint | By Gireesh Chandra Prasad, New Delhi PUBLISHED ON MAY 12, 2021 06:29 AM IST The Competition Commission of…
DetailsTwo major Thai airlines, Thai Airways International and Nok Air, are at different stages of putting together business reorganisation plans outlining how they will restructure their businesses under court protection and emerge stronger from the Covid-19 pandemic. But a recent surge in virus cases in the Kingdom looks likely to scupper the countrys plans to…
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