Deputy president Maijol Mahap says annulment under Section 105 of Bankruptcy Act 1957, wipes out prior bankruptcy order, putting Lajim Ukin back as he was in party. KOTA KINABALU: Parti Harapan Rakyat Sabah founding president Lajim Ukin did not lose his position in the party despite having been declared a bankrupt recently, claims his deputy…
DetailsEclipse Resources, the Perth waste-management company that unsuccessfully battled the State Governments landfill levy, has been placed in administration owing taxpayers tens of millions of dollars. A notice filed with the corporate regulator this week shows a meeting of creditors will be held at the CBD offices of law firm Herbert Smith Freehills next month…
DetailsA TRUSTED office manager who stole almost £50,000 and plunged a family business to the brink of liquidation has walked free from court. Nicola Leadstone was taking an average of £500 a week but her barrister claimed there was no evidence of her living high on the hog. Yet Teesside Crown Court heard yesterday she…
DetailsProfits at Twitters UK arm slid by 21pc last year despite almost £80m in advertising sales. Profits fell to £2.7m, partly due to a £1.4m restructuring expense, though the company said performance has been in line with expectations. The company has struggled to make money since starting in 2006. The restructuring expense was Twitter UK’s…
DetailsMAJOR corporate restructuring at Sunshine Coast Council is set to radically reshape the organisation with three of five of its most senior directors deciding not to recontest new positions. Director of Infrastructure Services Andrew Ryan and Director of Corporate Services, Ray Turner, will leave the organisation after long careers next Friday with Director of Community…
DetailsMUMBAI: A subtle tension is brewing between bankers, struggling with failed borrowers, and auditors, having come under closer scrutiny. Till now auditors who signed the financial statements of banks have rarely questioned the real worth of assets and securities that banks hold to lend. But, this is about to change with auditors coming under the…
DetailsBy: ENS Economic Bureau | New Delhi | Updated: October 2, 2017 12:55 am (Representational) Related News The Insolvency and Bankruptcy Code may have prescribed a minimum vote of 75 per cent in a creditors committee before any decisions are taken in the insolvency process, but the countrys courts are interpreting this quite differently. Two…
DetailsMUMBAI: Telecom operator Aircel may start an independent debt restructuring programme now that its proposed merger with Reliance Communications has fallen through, people aware of the firm’s alternative plans said. In an email sent to employees on Sunday night, Aircel chief executive Kaizad Heerjee said that while decision to call off the merger with Reliance…
DetailsProperties in places such as Warsaw in Poland are becoming popular with Irish buyers again How to handle sale-and-leaseback mess? Independent.ie Q. I’m considering buying an investment property in Poland. I’ve been sent a brochure about apartments which are up for sale there and they seem incredibly cheap. However, when I showed the brochure to…
DetailsVANCOUVER, April 17, 2017 /CNW/ – Rockwell Diamonds Inc. (“Rockwell” or the “Company”) (TSX:RDI; JSE:RDI) provides an update to the interim liquidation order against three subsidiaries of the Company issued by a judge in Kimberley, South Africa, on March 23, 2017. The interim orders, which have yet to be confirmed in a final hearing, include Rockwell…
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