Chemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…
Chemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…
Can defaulting companies take shelter under the ongoing insolvency proceedings to stop creditors from taking away assets provided as security? Kolkata High Court has allowed a creditor to take away equipment financed by it from the possessions of defaulting steel company, Ramsarup Industries, which has applied under the Insolvency and Bankruptcy Code. The judgement would…
NEW DELHI: The government has begun work on laying down a process for individuals to be declared bankrupt, which will help them deal with a financial crisis rather than be bogged down by it. The rules being framed will help a defaulter repay the money in a structured way, rather than being forced to cough…
With defaulters themselves triggering the proceedings, resolution could happen faster BL Research Bureau: Essar Steel tried to stay insolvency proceedings against it by moving the Gujarat High Court. But not all Indian companies think along similar lines. Data put out on the website of the Insolvency and Bankruptcy Board of India show that Indian borrowers…
WITH a whopping $32billion in credit card debt currently haunting Australians, it’s no wonder money is the leading cause of stress. Australian Securities and Investments Commission data reveals the average debt per card holder is about $4,300 and with many consumers possessing more than one credit card, the numbers get even scarier. But it’s not…
An embattled developer and fraudster avoided plummeting into bankruptcy after claiming he only had $200 in his bank account and couldn’t repay the $17 million he owed to former friends and associates. Despite his cries of crippling financial stress, Lemuel Page, 48, is still spotted driving around the NSW Hunter region in a luxury Mercedes…
Rogue advisers who seek out struggling companies and help ‘phoenix’ them out of tax and other financial obligations are being targeted in a multi-agency crackdown on the $3 billion lost every year from company rebirthing. The Australian Taxation Office and ASIC are leading the effort to put rogue ‘pre-insolvency advisers’ out of business by disrupting…
PwC suffered the latest blow to its reputation late on Thursday as Ukraines central bank pulled its bank auditing rights in the country for failing to identify alleged improprieties that led to a $5.5bn balance-sheet hole at PrivatBank, the countrys largest lender. The big four accounting group, which denies fault, had audited PrivatBank from the…
Dont let money rule your marriage. With some basic parameters, the two of you can handle the stressors of money and prevent serious problems that could lead to divorce. July 23, 2017 by Larry Alton Leave a Comment A quick look at the statistics reveals that money is one of the top reasons for divorces…