Illegal phoenix crackdown brings in $500m – AccountantsDaily

The ANAOs audit of illegal phoenix activity, examined the effectiveness of the Phoenix Taskforce in combating illegal phoenix activity since its inception in 2014, focusing on governance, strategies, processes and performance measurement. The annual direct impact of illegal phoenix activity is estimated to cost the Australian community between $2.85billion and $5.13billion. The ANAOs report found…

Corporate insolvency: court opens insolvency proceedings against Gerry Weber – The Global Domains News

The district court of Bielefeld opened today for the fashion company Gerry Weber into an insolvency process. The Board informed. The court is the application of the chain to a procedure in self-administration of 25. January followed. in contrast to regular bankruptcy proceedings, determine the proceedings in ownership, the company itself will continue its course.…

Ex-boss of RBS restructuring unit criticised over new role – Telegraph.co.uk

An MP has launched a scathing attack on the former boss of RBSs scandal-hit turnaround unit GRG, after finding out that he advises the standards organisation for restructuring practices. Derek Sach, who left RBS in 2015, chairs the International Association of Restructuring, Insolvency & Bankruptcy Professionals (Insol) lenders group and is named on the organisations…