In this note, we consider whether contracts provide any remedies, focussing on standard forms typically used in the region, and what happens when only the parent company of a contractor enters into insolvency. We also explain what an employer needs to know about insolvency of a contractor under UAE law and touch on the impact…
DetailsThe Commonwealth Bank of Australia (CBA) has been hit by a huge fine – $150,000 AUD – for increasing the credit limit on the account of a known problem gambler By: Andrew Burnett The CBA is the biggest banking multinational in the southern hemisphere, but ran afoul of the Australian Securities & Investments Commission (ASIC)…
DetailsIn Q2FY21,Voltas reported a healthy performance with consolidated revenue grew by 13 per cent year-on-year to Rs 1,613 crore led by revenue growth in all three segments. TopicsVoltas|Buzzing stocks|Markets SI Reporter | Mumbai Last Updated at November 9, 2020 12:33 IST Shares of Voltas hit a fresh record high of Rs 772.50, up 2.5 per…
DetailsMalaysian operatorMaxishasannounced that its chief technology and information officer (CTIO) Morten Bangsgaard has resigned from his position within the company. He will be leaving Maxis at the end of this year, to pursue other career opportunities. Bangsgaard has held the CTIO role for over six years. With Bangsgaards departure, Maxis has announced plans to streamline…
DetailsThe latest research report on the Debt Consolidation Market Industry Analysis, Market Size, Opportunities and Forecast, 2020 2028 provides a comprehensive assessment of the Debt Consolidation market for the forecast period from 2020 to 2028, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of…
DetailsA company that once billed itself as Brisbane’s premier home extension and renovation business may have been trading insolvent for up to a year before going into liquidation with creditors unlikely to see any of their money, according to liquidators. Total Lifestyle Builders Pty Ltd which went into liquidation in June this year owing more…
DetailsFresh off a five million dollar capital raising, strong quarterly cash flow and a rebrand, ASX-listed Hubify (HBF) formerly known as United Networks Limited is set to execute on a pipeline of acquisitions, according to CEO Victor Tsaccounis. He made the comments during an interview on Boardroom Media where he was discussing the rebranding of…
DetailsDistributor Hills Limited has revealed it had let go 39 of its staff following a restructuring of its IT distribution business earlier this year. Addressing shareholders, managing director David Lenz said the restructure occured in June and prompted by the COVID-19 pandemic. He said the restructure aimed to prepare Hills for the post-COVID trading environment…
DetailsShe said she was going to push the boundaries to get my credit wiped. She made me feel like I could trust her. As the number of Australians in financial distress escalates as a result of the pandemic, consumer advocates are sounding the alarm on unlicensed debt vultures firms that charge upfront fees and promise…
DetailsLatest News McGrathNicol Restructuring has been appointed as voluntary administrator of Tiger Resources to assess the future of the company and its assets. McGrathNicol Restructurings Rob Kirman and Rob Brauer will work alongside Tigers management and directors to explore options of either selling or recapitalising the company. The voluntary administration does not extend to Tigers…
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