The former operator of swim school franchise Jump Loops, which operated a number of local outlets, has been fined $23m for falsely telling franchisees they would be up and running within 12 months. However the fine is unlikely to be paid, with the business now in liquidation. The federal Court has found Jump Loops promised…
The former chief executive of failed van Eyk Research has been charged with four counts of dishonestly using his position within the firm for personal advantage. Mark Thomas appeared in Downing Centre Local Court earlier this week, facing several allegations from ASIC. Thomas was chief executive of van Eyk – and its largest shareholder –…
The sources said NBCC’s bid was found to be non-compliant with certain provisions of the insolvency law. On Wednesday, construction firm NBCC and Suraksha group submitted their final resolution plans to acquire Jaypee Infratech Ltd (JIL) in the fourth round of corporate insolvency resolution process. The sources said that a virtual meeting of the Committee…
Thursday, May 20, 2021 On 12 May 2021, the UK Government introduced the snappily titled Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill. As the title of the bill suggests, it seeks to amend the applicability of the directors disqualification regime to directors of dissolved companies. A summary of the current regime is summarised inthisnote…
Published 20 May 2021 Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain court protection under new legislation which has cleared the Oireachtas. The Personal Insolvency (Amendment) Bill 2020, which will now be signed into law, gives insolvent homeowners the right to seek review by a court if their…
Even though the central bank had permitted lenders to recast loans for borrowers earlier this month, the facility was limited to loans of up to Rs 25 crore Banks have told the Reserve Bank of India (RBI) that the protracted curbs because of the second wave of the COVID-19 pandemic have resulted in significant stress…
[ News ]May 20, 2021 5:00 am ET By Charlotte Seet Thai Airways Approved for Restructuring Plan Thai Airways International managed to get its creditors approval on May 19 for a proposed restructuring plan that would help the airline refinance its debt in an effort to stay afloat and remain financially viable long-term, Nikkei reported.…
MINNEOLA, Florida British actor Idris Elba was one of the celebrities who tested positive for COVID-19 back in March of 2020. His wife, Sabrina Dhowre Elba, also tested positive.Inan interviewwithRadio Times, Elba confirmed that he remained asymptomatic and didnt get the major symptoms everyone else got. However, he did discuss the mental health issues that…
Launch of study Climate change, debt, and COVID-19 (LWI) – A new study titled Climate change, Debt and COVID-19, analyzes a vicious cycle: climate change and COVID-19 are producing massive costs, exacerbating debt in the poorest countries. The study indicates that due to the lack of funds to invest in improved resilience, future crises will…
Mr Joyce said the pandemic had hurt Qantas far more than any other local company, estimating the airline, which has received JobKeeper, has lost an estimated $16 billion in revenue since the outbreak of COVID-19. Slowly turning the corner Qantas is aiming to reduce its cost base by $1 billion a year, and Mr Joyce…