A court hearing that ended in Salim Mehajer being declared bankrupt should have been adjourned because the controversial Sydney businessman was in jail at the time, his lawyer says. The former Auburn deputy mayor was declared bankrupt by a Federal Circuit Court judge in March, before he was granted bail in early April over claims…
DetailsAccording to the papers, the total trading debt on account of sale of fabric (Trading Transactions) to various traders of Alok (numbering approximately 5,293) (Trading Debtors) as at June 2017 amounted to about Rs 11,622 Crores. Steps taken by the resolution professional (RP) for Alok Industries to recover trade outstandings to the tune of Rs…
DetailsA court hearing that ended in Salim Mehajer being declared bankrupt should have been adjourned because the controversial Sydney businessman was in jail at the time, his lawyer says. The former Auburn deputy mayor was declared bankrupt by a Federal Circuit Court judge in March, before he was granted bail in early April over claims…
DetailsOnevue Holdings Ltd () has undertaken major restructuring initiatives in recent months, resulting in some share price underperformance. However, the March quarter update provided on Tuesday points to a much cleaner business focused on its core competencies across the financial services sector. The company has three divisions – fund services, platform services…
DetailsThe chief executive of Sydney telco South Western Wireless Communications Company has pinned the downfall of his company on his co-director’s decision to withdraw funding from the business. SWWCC director and former chief executive Geoffrey Peach told administrator Farnsworth Shepard that a cessation of funding from other director and chairman Peter Bartter was key to the company’s financial difficulties. …
DetailsDUBAI (Reuters) – Saudi Arabia is setting up a committee to handle the restructuring of debt owed by Saudi Oger, the construction company owned by the family of Lebanese Prime Minister Saad al-Hariri, said two sources familiar with the matter. Authorities are keen to resolve the financial fallout from the companys collapse after it was…
DetailsFinance ministers attending the recent Spring Meetings of the International Monetary Fund and World Bank clearly heard the alarm that Indermit Gill and Kenan Karakülah sounded on African debt: The only topic for discussion at the Development Committee lunch was debt in low-income countries. The conversations in hallways and meetings reminded me of those 20…
DetailsUtah is ranked 47th in WalletHub’s 2018’s Most Gambling-Addicted States. Nevada is ranked No. 1. (File Photo: SBG) (KUTV) — Gambling can become a real medical disorder and cause catastrophic financial loss, which influenced WalletHub to compare the 50 states to determine where excessive gambling is most prevalent. Utah is ranked 47th in the financial…
DetailsAs Wesfarmers moves closer to splitting out Coles, the long-term prospects of Bunnings are coming under renewed scrutiny. Bunnings Australia and New Zealand will account for about 55 per cent of Wesfarmers’ earnings and 65 per cent of its value after Coles is spun off as a separately listed company in 2019 assuming Wesfarmers does…
DetailsThe former head of a bank in Tajikistan that collapsed under the weight of bad loans has been arrested on suspicion of various illicit financial machinations. Asia-Plus news website cited unnamed sources on April 25 as saying that Jamshed Ziyoyev, ex-chairman of Tojprombank, is being kept at a holding cell in the capital, Dushanbe. Prosecutors are reportedly…
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