WA corporate insolvencies in November last year fell to the lowest level since January with only 73 companies hitting the wall. FTI Consulting said ASIC data showed a falling rate of insolvency across Australia with the national figure for November of 636 companies folding lower than the 677 firms that failed the previous month and…
DetailsIn distress: Tang showing the picture of Chu, her son-in-law. Chu has disappeared after racking up debts. KUALA LUMPUR: A 77-year-old disabled woman has disowned her son-in-law who used her address and phone number to borrow money from Ah Long, resulting in harassment from the loan sharks over his debts. Tang May Yoke said that…
DetailsThe United States is carrying about $19.96 trillion in debt as of this week. But you can join the countrys next president in volunteering to help wind back the hands of the national debt clock. Donald Trump reportedly plans to donate money to the U.S. Treasury to avoid conflicts of interest as president. The so-called…
DetailsRevenue at Postmedia fell to $214.9 million from $251.1 million a year earlier as print advertising revenue tumbled by $31.1 million or nearly 22 per cent and print circulation revenue fell $6.1 million or 9 per cent. (THE CANADIAN PRESS FILE PHOTO) Postmedia Network Canada Corp. swung to a profit in its latest quarter, buoyed by…
DetailsA FORMER employee of a bakery chain which has closed its Westbury branch claims workers have not been paid wages from the past five weeks after the company was placed into liquidation. Bristol-based Parsons Bakery was set to take over nine of the 11 Bath Bakery branches on Friday but the deal fell through after…
DetailsLawyer Hong Guo’s law firm has filed an insolvency notice after millions were stolen from a trust account. NICK PROCAYLO / PNG A Richmond law firm hit by a massive trust fund shortage has filed a notice saying it is insolvent and will make a proposal to creditors under the Bankruptcy and Insolvency Act. Richmond lawyer…
DetailsThe board was not concerned with default in bank credits or about the rising NPAs. It would mainly look into private creditors interest if their money got locked. (Illustration by: C R Sasikumar) The Bankruptcy and Insolvency Code will drive growth of debt market in India, which hardly exists in corporate and business financing, Dr.…
DetailsA FORMER employee of a bakery chain which has closed its Westbury branch claims workers have not been paid wages from the past five weeks after the company was placed into liquidation. Bristol-based Parsons Bakery was set to take over nine of the 11 Bath Bakery branches on Friday but the deal fell through after…
DetailsTo access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_01122017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:00 am: Insolvency and Bankruptcy Board Chairman M.S. Sahoo, State Bank of India Deputy Managing Director Pallav Mohapatra at conference on Insolvency and Bankruptcy Code 2016 in Kolkata. 11:00…
DetailsA business beyond redemption or revival asks for extreme measures to be taken. While it should stay the last option, it is always wise to know about liquidations. It also helps to set up your company, telling you all that you need if you ever run into a similar situation. A business beyond redemption or…
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