Vernon Dennis of Howard Kennedy LLP explores recent and future challenges faced by the insolvency sector Those practising in the insolvency sector will commonly encounter the refrain, I bet you must be busy. The response provided to this statement will surprise many as corporate insolvency numbers in 2016 remained flat, representing just 0.41% of all active companies; the lowest…
DetailsSINGAPORE – A fitness trainer conned his victim into believing that he needed money to pay for his mother’ s medical bills, rental arrears for two flats, insurance and even ransom for his kidnapped daughter. Between August 2012 and March 2013, Kelvin Kwan Ban Hock duped civil servant Goh Wee Hou, 37, of a total…
DetailsOnce the Business Liquidation Services has started, we will walk you through it step by step. If you have a business of your own, you know that it takes a lot to keep it running and successful. There are other factors that will also help to keep it successful. Liquidation and receivership are just two…
DetailsPerth construction company Builton Group has become the latest casualty of Perths building downturn, appointing administrators today. The appointment of Cor Cordis Dino Travaglini and Jeremy Nipps as external administrators was flagged by the Building Commission late on Friday. WestBusiness last week reported one unpaid creditor KJ Carpentry (WA) had appointed a liquidator after it…
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DetailsJohannesburg – Low-cost airline Fly Blue Crane is evaluating its routes as part of a restructuring process following the companys application for business rescue last year, said business rescue practitioner, Etienne Naude on Sunday. Fly Blue Crane became the latest South African airline to hit turbulence when it filed for a voluntary application for business…
DetailsDon’t you (forget to pay tax) Eighties rocker had fallen on hard times but did not mention that he was due cash in royalties SIMPLE Minds ex-bassist John Giblin was declared bankrupt after blowing thousands he owed in tax. The Eighties rocker, 64, has now also been banned from running a firm or borrowing cash for…
DetailsWAs building slump is on the verge of claiming another scalp, with a key operating arm of Builton Group telling the States regulatory authorities it is on the verge of placing itself into voluntary administration. The Building Commission last night took the unusual step of issuing a warning about Builtoncorp Pty Ltd, a commercial and…
DetailsMUMBAI: Tata Motors is shrinking structure of its white-collar workforce to five layers from the existing 14, in what is seen as the biggest organisational restructuring in the companys history. Some job losses were envisaged as part of changes, but a decision has yet to be taken, people in the know said. The new structure…
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