Taylor Dow Property Group, which paid high commissions and other incentives to mortgage brokers, has been placed in liquidation. Worrells Solvency & Forensic Accountants has been appointed to wind up the company that recently claimed to have last year sold $2 billion of Australian property to buyers in seven countries. A creditors’ meeting was held…
DetailsA court is expected to hand down a ruling on the challenge to the CBS takeover of Ten. Media moguls Bruce Gordon and Lachlan Murdoch are reportedly continuing their legal battle against the CBS takeover of the Ten Network after losing a Supreme Court challenge on Monday. As creditors of the embattled Ten Network prepare…
DetailsPublishing Date : 18 September, 2017 Author : TAPELA MORAPEDI Member of Parliament (MP) for Selebi Phikwe West, Dithapelo Keorapetse says that Pula Steel Casting and Manufacturing Plant was created exclusively for looting funds. The Botswana Congress Party (BCP) MP says that the creators of the company instead of demanding money at gun point,…
DetailsVeritas is the Latin word for truth, a fact we mention because data management software vendor Veritas has offered The Register a revised explanation for the closure of its Sydney support desk after we received information that told a different story. That document was a workforce plan dated July 2017 and, in another irony for…
DetailsRetail businesses still face insolvency risks despite new safe harbour laws, according to an insolvency expert. New safe harbour legislation which passed through Federal Parliament last week will be unlikely to settle the personal liability fears of current and aspiring company directors in the retail industry. Currently awaiting royal assent, the Treasury Laws Amendment (2017 Enterprise…
DetailsTaking a stern view against the intimidation and bullying of Insolvency Resolution Professionals (IRPs) by defaulting companies, the National Company Law Tribunal (NCLT) has ruled that the IRP is the supreme authority once the Tribunal has admitted a case in the bankruptcy court. Two benches of the Tribunal, as a warning to errant promoters, has…
DetailsInsolvency resolution is about the allocation of losses among different stakeholders in a situation where there isnt enough left in the pot for everyone. So far, the stakeholders at the centre of the public discourse under the new and fast evolving Insolvency and Bankruptcy Code (IBC) have been banks, trade creditors, promoters, workmen, employees and…
DetailsRoberta Williams makes tilt at federal politics exit Convicted drug trafficker and gangland widow Roberta Williams could appear on ballot papers at the next federal election despite being bankrupt and ineligible to run. Ms Williams, 48, announced on Monday that she was entering politics as a candidate for the Australian People’s Party to run against…
DetailsHaving sent it broke, two powerful businessmen wanted to use the legal system to bully their way back into control of a precious media outlet. On Monday morning their opportunistic grab for Network Ten was stopped by Ashley Black, a NSW Supreme Court judge who demonstrated that some Australian courts aren’t willing to play God…
DetailsMost bankruptcy cases involve those aged 35 to 45, mainly due to failure to settle HP loans, credit card debt, personal loans and housing loans. PUTRAJAYA: A total of 294,000 Malaysians are currently embroiled in bankruptcy cases due to their failure to settle hire purchase loans, credit card loans, personal loans, housing loans and social…
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