A former Olympic gold Chinese table tennis player is facing a HK$2.55 million lawsuit over a gaming debt to a prestigious Singaporean hotel where he was dubbed a premium player. Kong Linghui, also known as the ping-pong prince, is being sued by Marina Bay Sands for failing to repay fully a sum of S$1 million…
Its been a big week for company upheaval, with news of Network Tens collapse into voluntary administration garnering widespread attention, and experts say theres only one way to steer your team through such change: be human. On Wednesday, Network Ten confirmed administrators at KordaMentha would be taking control of the troubled TV channel after a…
DOORS SHUT: The former premises of Spectrum Window Fashions on Havannah Street. A BUSINESS owned by former Bathurst mayor Gary Rush has gone into voluntary liquidation owing money to the Australian Tax Office and some suppliers. Chris Chamberlain of Chamberlains SBR has been appointed liquidator for Spectrum Window Fashions Pty Ltd after a general meeting of the…
by Elizabeth Proust Our insolvency laws are widely recognised as being among the harshest in the world. Unlike comparable countries, such as the UK and Singapore, where the law focuses on what directors are doing to try to turn a company around, Australia’s laws focus solely on the tipping point where a company cannot pay…
A SHOCKED building firm behind the renovation of a West London tower block that was left an inferno overnight claims its work met fire regulations. Construction company Rydon carried out an £8.6m refurb of Grenfell Tower in May 2016. PA:Press Association Firefighters were this afternoon pictured inspecting the gutted tower block PA:Press Association Inspectors have…
In the first six months after notification of the Insolvency and Bankruptcy Code, a number of big-ticket filings were made from the energy sector at the National Company Law Tribunal (NCLT). Last month saw insolvency filings worth Rs 10,000 crore from the sector. One of these being Kolkata-based steel company Ramsarup Industries,…
Hit the brakes before you contact a debt settlement company to grapple with your student loans some may be in hotter water than you are. NerdWallet, a personal finance website, compiled a watch list of 130 entities, representing approximately 100 companies, that provide debt management and consolidation services for student loan borrowers. In all, about…
As the business environment gets tougher, more companies are being forced to borrow heavily, which in turn puts them at risk. Accessing credit has become easier for businesses and when used smartly, this can be used to boost operations. However, startups and small businesses always find themselves struggling with debt when revenues dwindle. Many businesses…
By Associated Press Published: 00:45 +10:00, 15 June 2017 | Updated: 00:45 +10:00, 15 June 2017 e-mail U.S. enforcement agencies – the Consumer Financial Protection Bureau and the Federal Trade Commission – in recent years have closed only seven companies that lured consumers with rosy promises to reduce or forgive student loan debt. But more…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. The resignation from NSW Labor of rising star, 2016 Senate candidate and gold trader Simon Zhou, comes as respected…