29 Jul 2020 The Corporate Insolvency and Governance Bill offers directors of struggling companies with some welcomed respite in regards to some of their decisions and action during the COVID-19 period. There is relief available with regards to personal liability for wrongful trading, voluntary moratoriums and restructuring options. Wrongful trading The impact of the COVID-19…
Najib, who led Malaysia from 2009 to 2018, co-founded 1MDB to attract foreign capital and help advance the Malaysian economy. Instead, up to $US4.5 billion was siphoned off. In 2018, the fund was declared insolvent and unable to pay its debts. That same year, Najib was bounced out of office in a historic election defeat.…
A financial planner conned a couple out of $360,000, sinking to staggering depths of deceit so he could pay off his credit cards and feed an online gambling addiction, a court has heard. Daniel Peter Logan, 40, was in extreme financial stress when he took the Brisbane couple on as clients while working as a…
Cash-flow issues not JobKeeperare whats keeping Aussie business owners awake at night, new research from business recovery and insolvency firm Jirsch Sutherland has revealed. The research, based on an independent survey of over 1,000 business owners, found that todays cash-flow troubles could translate into a number of insolvencies over the next six months as the…
New Zealands largest retail chain axes 1,080 jobs By John Braddock29 July 2020 The carnage being inflicted on workers jobs continued when New Zealands largest retail chain, The Warehouse, announced on July 19 up to 1,080 sackings. It followed the recent decision by the global conglomerate Rio Tinto to mothball Southlands Tiwai Point aluminium smelter…
GYMPIE has lost one of its last friendly grocers, with the popualar Heilbronns Friendly Grocer on Duke St shutting its doors and moving into liquidation. The stores parent company, Abid Australia, made the decision to close the CBD-based Friendly Grocer Gympie shop at a general business meeting yesterday. Worrells Maroochydores Paul Noguieia has been appointed…
The customers of Agetur, the first Romanian tour operator to go insolvent because of the coronavirus pandemic, will receive only half of the EUR 440,000 paid in advance for holidays this summer. The clients will be compensated through the insolvency risk insurance policy, which will partially cover the amounts paid. Agetur is one of the…