Perth mining boss Michael Fotios has this morning resigned from the chairmanship of two of his listed entities after yesterday being declared bankrupt. Both Redbank Copper and Horseshoe Mining revealed in statements that Mr Fotios had resigned as chairman effective immediately, but neither company provided a reason for his departure. Mr Fotios is disqualified from…
It is easy to say one should be responsible for their actions; however, it shouldnt be limited only to gamblers but should also be considered with equal transparency while discussing the responsibilities of licensed gambling operators and online casinos. That said, its nothing but fair that one is to be…
About 13 percent of corporate insolvency resolution processes (CIRPs) until the end of March 2019 wereresolved, while 53 percent cases ended in liquidation, according to data from the Insolvency and Bankruptcy Board of India (IBBI). Average realisation by financial creditors as a share of claims was only 43 percent. In its report, the IBBI said…
Total individual insolvencies fell 8.1% to 31,527 in Q1 this year from an eight year high in Q4 2018 when they stood at 34,287, data showed. However, personal insolvencies are up 16 per cent year-on-year and Individual Voluntary Arrangements (IVAs) have risen 24 per cent in the same period, according to the latest Insolvency…