The ex-Scotland and Rangers captain was declared insolvent after failing to settle large bills thought to be owed to the taxman. He is one of a number of former Ibrox stars who faced paying back money they had received in Employee Benefit Trusts (EBTs) after Rangers lost a battle with HMRC at the Supreme Court…
DetailsCosts for many homebuyers have jumped by up to 150 basis points over the past 12 months and are expected to continue rising even if low inflation means an official rate hike from the Reserve Bank of Australia is unlikely in the near term. Owner-occupier borrowers are paying between 30 and 40 basis points more…
DetailsWith nearly half of SMEs having more than $20,000 in overdue invoices tying up their cash flow, business owners must be more proactive in mitigating the risk of late payments and bad debts, writes Damian Arena and Kirk Cheesman. Its not surprising cash flow and bad debt keep many business owners awake at night. After all, unpaid…
DetailsTUESDAY BancorpSouth Inc. is dissolving its bank holding company, merging its operations with its banking subsidiary, BancorpSouth Bank. BancorpSouth will remain a publicly traded company, continuing to be listed on the New York Stock Exchange under its current symbol, BXS. Most banks have bank holding companies, or BHCs, which allow them to enter into non-banking…
DetailsAdelaide Friday July 28, 2017 EXCLUSIVE | The crisis-hit state Returned and Services League has staved off closure after creditors voted for a property fire sale today but that was despite the organisations National board spectacularly voting for liquidation, InDaily can reveal. The despair of the shrinking newsroom … Read the full article at: http://indaily.com.au/news/local/2017/07/28/rsl-national-voted-liquidate-state-branch/
DetailsSC added NCLAT doesnt have power to allow recording of consent terms between parties after the case is admitted in NCLT. The Supreme Court has held that corporate debtors and financial creditors can settle their dispute even after corporate insolvency resolution proceedings are initiated by the National Company Law Tribunal (NCLT) under the Insolvency and…
DetailsANNETTE TURNBULL-DEW/FAIRFAX NZ Paul Hibbs, pictured in 2001, is due to appear in court on multiple SFO charges in August. A company linked to a man who ran what is alleged to be a significant ponzi scheme has gone into liquidation as another court date looms for the alleged fraudster. Paul Clifford Hibbs was last year…
DetailsA second successive annual loss GUD Holdings after the sale of two businesses in the 2016-17 June year slashed $58.9 million from the companys bottom line. The Melbourne-based manufacturer of household and industrial goods reported an annual net loss of $7.3 million, compared with a loss of $43 million in the 2015-16 financial year. On…
DetailsThe Kolkata Bench of the National Company Law Tribunal recently ruled that disclosure of the fact of initiation of proceedings under Section 138 of the Negotiable Instruments Act in not necessary while filing an Application for Insolvency under the Insolvency and Bankruptcy Code, 2016. It is to be made clear that the proceedings under section…
DetailsSince President Trump took office, thousands of people who attended demonstrably shady for-profit colleges have applied to have their student loans discharged. But as of this month, the Trump administration has not approved any of the recent claims, known as borrower defense to repayment applications, including 2,605 claims filed by borrowers from California. So thousands…
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