Perth mining boss Michael Fotios has been declared bankrupt after a long-running battle with the Australian Taxation Office. The Federal Court ordered yesterday his estate be sequestrated under the Bankruptcy Act, after an application by the Deputy Commissioner of Taxation. Mr Fotios declined to comment. The bankruptcy will automatically disqualify him from being a director,…
According to The Insolvency Service, the fall was largely driven by a decrease in the number of individual voluntary arrangements (IVAs), though both debt relief orders (DROs) and bankruptcies fell slightly from Q4 2018. In all, there were 115,319 personal insolvencies in 2018. The quarter-on-quarter decrease in total individual insolvencies in the first quarter of…
LONDON (Reuters) – The number of companies falling into financial distress in England and Wales rose in early 2019, adding to signs that businesses struggled in the run-up to the original March Brexit deadline, official data showed on Tuesday. FILE PHOTO: A woman walks past closing down posters in the window of a branch of…
A businessman and his mother have been restricted for five years from acting as directors of any company, unless it meets certain requirements, after the High Court found they failed to keep proper books and records for their liquidated hairdressing supplies and beauty treatments business. Warren Logan was executive director of Hairspray Wholesalers Ltd, Fashion…
FILE PHOTO: A man speaks on his mobile phone as he walks past a closed shop painted with an advertisement of Reliance Communications in Mumbai, India, February 4, 2019. REUTERS/Francis Mascarenhas MUMBAI (Reuters) – An Indian appellate tribunal has lifted a stay on insolvency proceedings against business tycoon Anil Ambanis debt-laden Reliance Communications, the Economic…
By Sato . May 1, 2019 . 7:15am Capcom announced today that it is restructuring its eSports and media licensing business units under a new entity called Capcom Media Ventures (CMV). From here on out, Capcom Media Ventures will manage all of the companys global eSports initiatives outside of Japan. This includes the Capcom Pro…
US broadcast giant iHeartMedia has successfully completed its restructuring process, significantly reducing its debt from $16.1billion to $5.75bn. Alongside the completion of the restructuring, and in accordance with its Plan of Reorganization, iHeartMedia and Clear Channel Outdoor Holdings have now fully separated, creating two independent publicly-traded companies. Clear Channel Outdoor Holdings shares will continue to…
Adopt a Farmer: How you can help drought-stricken families NSW drought: Devastating reality in pictures Across drought-stricken NSW there are remarkable tales of community strength in the toughest of times and no one embodies that more than young Harry Chase and his classmates at Tottenham Central School. They came up with the Best Cookbook Ever.…
There were 4,187 total underlying company insolvencies in Q1 2019, 6.3% more than in Q4 2018. Compared to the same quarter last year, this was an increase of 5.1% and marks the second highest underlying level of insolvencies in any quarter since Q1 2014. The hike was driven by increases in company voluntary liquidations (CVLs)…
LONDON, April 30 (Reuters) – The number of English and Welsh companies falling into financial distress rose sharply in early 2019, according to official data published by the government on Tuesday. There were 4,187 underlying company insolvencies in the first quarter, up from 3,938 in the fourth quarter, the Insolvency Service said, citing seasonally-adjusted data…