Significant reforms to corporate and personal insolvency laws have divided opinion on safe harbour in Australia. By Shabnam Amirbeaggi FCPA Insolvent trading safe harbour reforms received royal assent on 19 September 2017. These amendments to the Corporations Act provide protection to company directors from liability for insolvent trading. The amendments apply to courses of…
DetailsPERTH’S tough hospitality sector has claimed another high-profile victim, with administrators being put into celebrated chef Scott Taylors Trustee bar and restaurant in Brookfield Place on St Georges Terrace in the CBD. Administrators from Cor Cordis were appointed on Monday to the company behind the Trustee and the Beaufort Street Merchant in Mt Lawley. The…
DetailsSTOCK IMAGE Insolvency ruling that couple can stay in home gives hope to hundreds of families Independent.ie A couple and their two young children can remain in the family home, after a judge dismissed a fund’s objection to their proposed personal insolvency arrangements (PIAs). https://www.independent.ie/irish-news/courts/insolvency-ruling-that-couple-can-stay-in-home-gives-hope-to-hundreds-of-families-36282665.html https://www.independent.ie/incoming/article36174649.ece/8a87c/AUTOCROP/h342/Court%20generic%20new.jpg Email A couple and their two young children can…
DetailsMORE than 90,000 Malaysians have been declared bankrupt since 2013 with almost 97% of them failing to repay installments to financial institutions. From 2013 until August this year, the Insolvency Department recorded a total of 94,408 people who were declared bankrupt, The Star Online reported. “About 91,180 were declared bankrupt as they failed to repay…
DetailsFederal Government plans to force Australia’s big banks to give credit agencies more detailed information about customers’ financial behaviour could penalise the poor, consumer groups have warned. Key points: From 2018, CBA, ANZ, Westpac and NAB will have to give credit agencies more detailed information about customers’ financial behaviour Consumer groups say the…
Detailsby Ann O’Loughlin A couple and their two young children can remain in their family home after a High Court judge dismissed a funds objection to their proposed personal insolvency arrangements. In a significant judgment rejecting the fund’s claims of unfair prejudice by the arrangements, Ms Justice Marie Baker said the test for unfair prejudice…
DetailsInternational retailers Forever 21 and Top Shop are in the final stages to abandon their Queen Street Mall and Elizabeth Street leases in the heart of Brisbane’s CBD after the forecast strength in retail did not meet expectations. Westpac is understood to be close to striking a deal on part of the prime mall fronting…
DetailsWritten by Aanchal Magazine | New Delhi | Updated: November 1, 2017 6:43 am The World Bank report said the improvement in ranking for India has come on the back of sustained business reforms over the last four years. (Representational) Related News Boosted by substantive jumps in the areas of protecting minority investors through tightening…
DetailsEastern Guruma country, in the Pilbara; Photo: Glen Camille. Pilbara-based Eastern Guruma contracting company, which has multi-million dollar projects with some of the biggest names in mining, is expected to face a significant restructure after being placed in voluntary administration with unspecified debts. A team of administrators was this week poring over the books of…
DetailsWhile conducting search and rescue in the mountains of Puerto Rico a CBP Air and Marine Operations Black Hawk located this home a half mile from its peek with HELP painted it is roof. GENEVA, Switzerland Puerto Rico remains without an effective emergency response more than a month after Hurricane Maria devastated the island, a…
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