ATO and ASIC taskforce makes use of intelligence sharing to weed out phoenix companies and rogue pre-insolvency … – SmartCompany.com.au

Bankruptcy

A taskforce of federal government agencies is used shared intelligence to uncover potential phoenix operators and rogue pre-insolvency advisers, but the business community will still have to wait to see whether phoenix prevention tools like director identification number (DINs) ever make their way into legislation. On Monday ASIC commissioner John Price told Fairfax that phoenix advice passed…

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The six-month search for a $10-20 million ecstasy lab in Canberra – Daily Advertiser

Gambling

Chemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…

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Hospitality sector hit by a wave of administrations as it grapples with the post boom economy and stay-at-home drinkers – The West Australian

Liquidation

POOLSIDE Runway Show at Matisse Beach Club on Saturday January 21st, 2017. Fashion Parade Picture: John Koh. With a clutch of appointments into the sector in recent months, insolvency firm McGrathNicol is cautioning about growing stress in WAs hospitality industry. The combination of WAs softer post-resources boom economy, cautious consumers and stay-at-home drinkers tapping the…

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The six-month search for a $10-20 million ecstasy lab in Canberra – Newcastle Herald

Gambling

Chemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…

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The six-month search for a $10-20 million ecstasy lab in Canberra – Illawarra Mercury

Gambling

Chemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…

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DNA EXCLUSIVE | Creditors can take away assets of cos moving NCLT for insolvency: HC – Daily News & Analysis

Bankruptcy

Can defaulting companies take shelter under the ongoing insolvency proceedings to stop creditors from taking away assets provided as security? Kolkata High Court has allowed a creditor to take away equipment financed by it from the possessions of defaulting steel company, Ramsarup Industries, which has applied under the Insolvency and Bankruptcy Code. The judgement would…

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Debtors have filed over 33% of insolvency cases – Hindu Business Line

Bankruptcy

With defaulters themselves triggering the proceedings, resolution could happen faster BL Research Bureau:   Essar Steel tried to stay insolvency proceedings against it by moving the Gujarat High Court. But not all Indian companies think along similar lines. Data put out on the website of the Insolvency and Bankruptcy Board of India show that Indian borrowers…

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