Auto components major Motherson Sumi Systems Ltd (MSSL) on Friday said its public shareholders have voted in favour of its proposed group restructuring under which it will demerge its domestic wiring harness (DWH) business into a new company that will eventually be listed. As part of the restructuring which was announced in July last year,…
The High Court has refused to approve a Personal Insolvency Arrangement (PIA) under which a pensioner would be making mortgage repayments on her home until she was aged 98. In what is regarded as an important test case, Mr Justice Mark Sanfey said 69-year-old Ann Fennell, who owes Ulster Bank some 72,500, would not be…
Living in the coastal suburb of Killcare on New South Wales Central Coast, the past year has seen Linda Gibbens spend the most time on solid ground in two decades. Previously a flight attendant with Emirates and Virgin Australia, the role saw her travel all around the world and live in Dubai for seven years…
Date: 30.04.2021 Supreme Court accepts complex task made more difficult by range of challenges WITS assets were eventually auctioned off as part of its liquidation The Supreme Court of Victoria Commercial Court brings into sharp relief the cost of company failure as external administrators are approved remuneration of more than $320,000 for their work in…
A VIP casino patron who is accused of racking up a $43 million baccarat debt will be forced to appear in an Australian court. Casino Guardian reports that a Brisbane judge has overruled the bid of Dr. Wong Yew Choy to set aside the legal action started by Star Entertainment Group against him. The Brisbane…
Former Acxiom and LiveRamp executive Dean Capobianco has joined government-owned geospatial geospatial data company, Geoscape Australia, as CEO. Capobianco started his corporate career in media after time as an elite athlete whereby he competed for Australia at the Olympics. Dean Capobianco Most recently, he was acting CEO of the now insolvent tech startup UbiCar, an…
With the fallout from the novel coronavirus pandemic for many being either job loss or business closures, the possibility of needing to find shelter under the provisions of the Insolvency Act is all too real. What happens, however, to your lease? As the tenant who needs rescue, are you likely to be kicked out of…