The Insolvency Law Reform Bill, which enhances protections for creditors and improves the efficiency of companies being wound up, has passed the House of Representatives today, Minister for Small Business and Assistant Treasurer the Hon Kelly ODwyer said. This legislation supports the Governments commitment to modernise Australia’s insolvency and corporate reorganisation framework, Minister ODwyer said.…
DetailsThere have been a number of movies made about excesses on Wall Street, but none is better than The Big Short, which is currently screening in Australian cinemas. For those who haven’t seen The Big Short I will try not to reveal too much, but by way of background, the movie is set in…
DetailsROSEMONT, Ill.–(BUSINESS WIRE)–Comdisco Holding Company, Inc. (OTCQB: CDCO) and (OTCQB: CDCOR) (Comdisco) today reported financial results for its fiscal first quarter ended December 31, 2015. Comdisco emerged from Chapter 11 bankruptcy proceedings on August 12, 2002. Under Comdiscos First Amended Joint Plan of Reorganization (the Plan), Comdisco was charged with, and has been, liquidating its…
DetailsOn Feb. 11, German Pellets GmbH announced a German court has appointed a provisional insolvency administrator with regard to insolvency proceedings that have been initiated against the assets of the company. A statement issued by German Pellets indicates the insolvency court in Schwerin, Germany, has appointed Bettina Schmudde, a lawyer with the firm Kanzlei White…
DetailsOn Feb. 11, German Pellets GmbH announced a German court has appointed a provisional insolvency administrator with regard to insolvency proceedings that have been initiated against the assets of the company. A statement issued by German Pellets indicates the insolvency court in Schwerin, Germany, has appointed Bettina Schmudde, a lawyer with the firm Kanzlei White…
DetailsA property developer who used the gravestones of children to pave his patio has been declared bankrupt . Kim Davies, 61, fought a costly three-year legal battle after he was accused of vandalising the house that inspired All Things Bright and Beautiful. He was fined £60,000 after admitting planning offences last year and was ordered…
DetailsForge in court win The receivers for collapsed engineering Forge Group have won a circa $50 million court victory in a dispute over the ownership of four gas turbines. The NSW Supreme Court yesterday ruled in favour of Forge Group Power and against General Electric and APR Energy in the biggest award since new personal…
DetailsBy Charlene Crowell Despite consensus by economists that the economic recovery is well underway, many of Americas working poor, under-employed and unemployed people continue to struggle financially. Adding insult to injury, these financially vulnerable households face debt collectors who harass and sue them on incomplete and/or inaccurate information. In many cases, consumers are harassed for…
DetailsFive Laura Ashley stores in Victoria and New South Wales will close and 25 employees will lose their jobs, as the voluntary administration of the Australian retail chain continues. FTI Consulting, which was appointed to manage the voluntary administration of the company on January 7, said yesterday the closures are part of an ongoing restructure…
DetailsA court has overturned the refusal of a bank to agree to an insolvency deal for a Co Monaghan couple. The development means the original proposal of a 50% write-down of mortgage debt, or a 150,000 reduction in the loan on the family’s home, will now proceed. This is the first time a court has…
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