A real estate agency that stole $220,000 in client funds before collapsing has been fined just $7,500 after being convicted on 12 charges, but the prosecuting agency insists the matter is far from resolved. Austpride, which formerly traded as Real Estate Masters in the Perth suburb of Cannington, was convicted last week of 12 counts…
DetailsForce India team principal Otmar Szafnauer said the team came within days of collapsing before going into administration and being bought by new owners. Szafnauer said described how close the team came to being declared insolvent, which would have forced it to close its doors. It was pretty close, he told media including RaceFans last…
DetailsThe Kyneton Football Netball Club is calling for community support to help them overcome a $200,000 debt. The debt has amounted following the club’s recession in 2013 where the club was forced to pull the senior football side from the Bendigo Football League while costs from upgrading the netball courts, lights and scoreboard in recent…
DetailsThe company also wrote down the value of its international business by $120 million. Mr Boeghetti said the accounting adjustments were non-cash and did not affect the fundamentals of Virgins underlying business. We are confident in the performance of the Groups underlying business and that long-term benefits from our growth plans will be delivered, he…
DetailsVirgin Australia has reported its sixth consecutive full-year loss, falling deeper into the red with a $653 million after-tax loss in 2018 compared to a $185 million loss a year ago. On an underlying level, which strips out the impact of Virgin’s three-year business restructuring and turnaround plan, the airline reported a $109 million profit, up from…
DetailsPopular Moseley pubs the Prince of Wales and the Dark Horse were run by the company, in addition to the British Oak, in Stirchley. The operation of these pubs has not been affected by the liquidation. A wine bar Cheval Blanc traded for just 16 months, a short-lived operation that caused financial problems for the…
DetailsTally Advisor, which launched in August 2018, is an automated debt manager that determines the fastest way to pay down your debt and takes action for you. Brown compares it to a robo-advisor but, instead of managing your investment portfolio, it manages your debt. “Robo-advisors have become increasingly popular for the ease and simplicity they…
DetailsDr. Sarpong says the property has between 18 to 21 buildings in a gated community and not 6-blocks Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) has confirmed, he once worked with Global Haulage Company Limited from which the GNPC bought a property worth $7.5 million. Despite his past association with the transport…
DetailsEven after the sanction of Rs 20,000 crore to GSPC, no oil or gas has been extracted, Mr Ramesh claimed New Delhi: Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5…
DetailsGovernment plans to clamp down on directors who dissolve companies to avoid paying workers or pensions have been welcomed by insolvency practitioners in the North West. The proposals, which were announced on Sunday and represent the biggest changes to the corporate insolvency regime in almost 20 years, will also give struggling companies more time to…
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