PROCEEDINGS have been launched against key figures in the 2013 collapse of Walton Construction which left Sunshine Coast subcontractors unpaid $3 million. Liquidator Grant Thornton has launched breach of directors’ duties actions including aiding and abetting against the company’s sole director Craig Walton and Pat McCurry and Phillip Spry of business advisor Mawson. The liquidator…
DetailsSection 29A of the Insolvency and Bankruptcy Code bars ousted promoters of an insolvent company from regaining control. It has not specifically disarmed any class of participants, but disallowing wilful defaulters from participating in asset-bids would mostly hurt promoters of debt-ridden companies, experts opine. ET spoke to industry watchers to gauge their views. Leave aside…
DetailsThe tiny house movement has made a big impact on the United States over just a few years, with over 10,000 tiny houses and counting located across the country. But as the lifestyle becomes more popular, even the top mobile tiny house maker has found itself struggling. When Tumbleweed Tiny House owner and CEO Steve…
DetailsIt is hard to believe, when you have been living in the quiet hell of Mortgage Arrears that you can still be your familys hero. This week a national campaign has started where the Irish Mortgage Holders Organisation (IMHO) are asking you, if you are in long term Mortgage Arrears to contact us. I know,…
DetailsBuzzFeed is laying off about 100 employees in the US and restructuring its advertising sales operation amid a tough digital media market. In an email to staff, BuzzFeed CEO Jonah Peretti said Greg Coleman, a veteran advertising executive and BuzzFeed’s president, is transitioning to an advisory role. The cuts in the US, which come from…
DetailsAlitalia SpA, the bankrupt Italian airline searching for a rescuer, will get new uniforms designed by one of Italys most prominent stylists, the second re-branding in two years. The airline, which is on state support, said Wednesday that Alberta Ferretti will renew the companys look “to ensure that all personnel, both ground and flight staff,…
DetailsA regional trial court has issued an order to liquidate the assets of the Uniwide group, declaring as insolvent the former high-flying retailer which was still pleading for a chance to undergo corporate rehabilitation. In an order dated Nov. 23, the RTC of Parañaque Branch 258 issued an order to liquidate Uniwide Sales Inc., Uniwide…
DetailsBy Anto Antony As local and foreign investors line up to pick bargains out of Indias $207 billion bad-loan debacle, one of the countrys most seasoned managers of distressed assets has some sobering advice: Be prepared to stay for the long haul and deal with multiple setbacks. Managing many of these complex assets on a…
DetailsPicture: Getty Over the last month weve been looking at ways to effectively manage your money. Weve looked at low wages, savings habits and the best ways to manage your finances by getting by on less. But what do you do if you cant? What if youre saddled with debts you cant pay, and you…
DetailsThe first step for families and students applying for college is to complete the Free Application for Federal Student Aid (FAFSA). That form is available now for next school year. Students should apply as soon as possible. Because the FAFSA tells schools how much aid students qualify for, it is a vital part of planning…
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