Diamond and precious metals dealer Alejandro “Alex” Mendieta has been ordered by the Supreme Court of Victoria to pay more than $190,000 to the owner of five precious stones that appear to have vanished. The court order handed down on December 15 is the latest setback for Mr Mendieta, who was charged with receiving stolen…
DetailsAustralia’s household debt is among the world’s highest, and according to the Australian Securities and Investments Commission (ASIC) we owe more than $30 billion on our credit cards alone. Today, the Australian Bankers Association (ABA) outlined its strengthened code of conduct, and there’s a big focus on credit cards, including proposed changes to unsolicited…
DetailsSafety of bank deposits has vaulted into the centre-stage of public discourse for the first time since the minirun on savings at ICICI Bank in 2008. Selective reading or more fittingly, misreading of the Financial Resolution and Deposit Insurance (FRDI) Bill has led the general public to interpret the proposed legislation as draconian – one…
DetailsQueenslands health department has allowed a disgraced British psychiatrist to slip through the cracks. Dr Richard Seamark has been practising at Sunshine Coast Hospital for 18 months despite being banned in the UK for jeopardising patient safety. Seamark was accused of failing to adequately safeguard patients wellbeing, presenting a significant risk to patients and the public. The…
DetailsA year after being declared bankrupt, Independent TD Mick Wallace is scheduled to walk away from debts of more than 30m. Mr Wallace was adjudicated a bankrupt at the High Court on December 19, last year on foot of a 2m judgment debt. He was therefore scheduled to leave bankruptcy yesterday. Mr Wallace had been…
DetailsNews and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here. Sorrento Tech, Inc. (Nasdaq: ROKA) today announced that it has notified the NASDAQ Stock Market (“NASDAQ”) of its intent to delist its common stock (the “Stock”) from the NASDAQ Global Market. The Company filed…
DetailsVideo PlayerClose ROME, Dec. 19 (Xinhua) — Bank of Italy Governor Ignazio Visco on Tuesday told a parliamentary commission of inquiry into the failure of several Italian banks that nobody in the government of ex-premier Matteo Renzi tried to exert undue pressure on him during the banking crisis. Visco testified that Renzi asked him about…
DetailsNEW YORK, Dec. 19, 2017 /PRNewswire/ — New York REIT, Inc. (NYSE: NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced that it has closed on the previously announced sale of its property located at 1440 Broadway in New York, New York for a total of…
DetailsBy M R Umarji The Insolvency and Bankruptcy Board of India (IBBI) has framed regulations for insolvency resolution process which provide that liquidation value means estimated realisable value of the assets of the corporate debtor is used for computation of liquidation value. The regulations further provide that the information memorandum prepared by the Resolution Professional…
DetailsThe Insolvency and Bankruptcy Code, 2016, in its brief history has created quite a shake-up in the corporate sector. No doubt that the enactment of the Code has been well intentioned. Due to the growing menace of loan defaults, it had long been felt to have some sort of disciplined insolvency and bankruptcy legislation to…
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