The Australian Tax Office and the Australian Securities and Investments Commission have conducted raids on 13 businesses and residences across the country in a bid to crack down on pre-insolvency firms that advise clients on how to avoid tax. Some 120 ATO officers teamed up with their ASIC counterparts on Thursday to collect documents and…
Three recruitment companies have been returned to their directors, after parent company Rubicor Group secured a deal with creditors to bring the companies out of voluntary administration. Rubicor Group is one of Australias largest recruitment companies and is listed on the Australian Securities Exchange. The group, which was founded in 2005, operates 15 specialist brands…
Chartered accountants’ obligation to comment on overindebtedness Liability of chartered accountants Comment Chartered accountants entrusted to draw up financial statements must also examine the company’s status of overindebtedness in terms of insolvency law if its accounts show that it is overloaded with debt. However, in practice, this task is often neglected, as the fact…
LAFAYETTE, La.–(BUSINESS WIRE)–CirraGroup, the first crowdsourced medical debt settlement solution, announced today that it has signed an agreement with Lafayette General Health system (LGH; Lafayette, LA) for its Debt Resolution Platform. Today, one in four Americans are covered by a high deductible health plan, and half of them cannot afford to pay. As of Q1-2016,…
To boost supplementary income of debt-ridden farmers in Yavatmal, the Maharashtra government has roped in Gujarat-headquartered dairy major Amul for marketing and procurement of milk in the district, which is one of the worst affected farmer suicide-prone areas in the Vidarbha region. The Yavatmal Cooperative Dairy Union was one of more than 20 district units…
Overview Comment The liquidation of a limited liability company (LLC) is undoubtedly a complicated and lengthy process, but nonetheless includes many safeguards to guarantee the rights and obligations of the company with regard to third-party debtors and creditors. Below are the main steps required in the liquidation process for LLCs registered in Baghdad or…
WASHINGTON (AP) The Latest on the U.S. presidential race (All times EDT): Updated 12:40 p.m.: Donald Trump’s campaign is painting Hillary Clinton as a proponent of the status quo as she prepares to deliver an economic speech in Michigan. Trump’s Deputy National Policy Director Dan Kowalski says in a statement that: “right now, the American…
BEIJING – China is looking to universities and research institutes for an engine to sustain economic growth and drive economic restructuring. On Monday, the State Council published a national plan for progress in science and technology by 2020, listing a set of targets as well as government actions to help meet them. Among the set…
The Change Initiative, a shop specialising in selling environmentally-friendly goods, is restructuring its business as a result of a retail downturn. The Barsha Heights-based shop will close its retail operation and cafe in September and instead focus on its distribution business. “The current retail climate makes it impossible for us to financially sustain the business,”…
Federal prosecutors say the former president and chief executive officer of an Alabama steel company has been sentenced to six years in prison for gambling away money during his company’s bankruptcy case. The U.S. Department of Justice said 51-year-old Kennon Whaley had been convicted by a federal jury of two counts of concealment of bankruptcy…