Over 1,300 employees of Jyoti Structures, a Mumbai-based engineering and procurement (EPC) company, are heaving a sigh of relief as the National Company Law Appellate Tribunal (NCLAT) has granted a stay on the liquidation order passed against the insolvent firm. Its employees are spread over two manufacturing units in Nashik and Raipur, and at various…
Telecommunications giant Optus will cut 440 jobs as the company moves to digitisation and automation in a bid to remain competitive in the mobile market. It is an attempt to improve efficiency and become a “world-class” digital service provider, an Optus spokeswoman told AAP in a statement on Wednesday. “As we continue to evolve the…
FORMER England international Carlton Cole has gone bankrupt despite earning £30,000 a week at the peak of his career. The 34-year-old striker, who played for Premier League clubs Chelsea and West Ham, was given the verdict at London’s High Court. PA:Press Association Carlton Cole earned millions during nine seasons on the books of West Ham…
Adriano Zumbo’s dessert empire may have been trading insolvent since at least mid 2017, raising questions about the dessert king’s breach of obligations as a company director. In July, three of Mr Zumbo’s companies 611 Pty Ltd, Mel 611 Pty Ltd and I’m So Fancy Pty Ltd went into voluntary administration. According to the administrators’ report, sent to creditors…
The Companies (Demerger) (Jersey) Regulations 2018 will take effect on 1 September 2018 and will provide a more flexible regime, including a quicker and more cost effective and flexible route to demergers than the use of schemes of arrangement or other more complex reorganisations. But Mr Amy says that the opportunities created by the amendments…
Despite making up 20 per cent of Western Australias personal insolvency figures, people in regional WA are faring much better than those in the greater metropolitan area, according to the latest statistics. Statistics for the June quarter from the Australian Financial Security Authority showed that 19 per cent of personal insolvencies in regional areas over…