Some of the federal government’s biggest spending departments could require contractors to pay their supply chain businesses within 30 days, as part of a campaign by Small Business Ombudsman Kate Carnell. As the government considers the former ACT Liberal leader’s inquiry into payment times and contract practices in the Australian economy, Ms Carnell has written…
The Independent Electoral and Boundaries Commission (IEBC) has gazetted five additional names of Presidential candidates to take part in the October 26th repeat election. IEBC Chairperson Wafula Chebukati has added Thirdway Alliance’s Dr Ekuru Aukot, Tunza Alliance’s Abduba Dida and Independent candidates Joseph Nyagah, Michael Wainaina and Japheth Kavinga. The five will join President Uhuru…
An air hostess has been declared bankrupt after she refused to pay over 200 parking fines as part of a “personal crusade”. Carly Mackie, 28, from Dundee, received the parking fines for persistently leaving her Mini in a residents-only area outside her parents’ flat. Mackie ignored the tickets, insisting they were illegal and unenforceable in…
The brother of former Everton and Manchester United manager David Moyes has been banned from becoming a company director, report the Daily Record. Agent , 49, was disqualified for five years after investigators found he withdrew cash from his football tours company to avoid paying tax. The ban follows an Insolvency Service probe into Glasgow…
By BENSON WAMBUGUMore by this Author Under the laws of Kenya, bankruptcy is the declaration made against a person by a court after it is found that the individual is unable to meet his or her financial liabilities. Kenyan Bankruptcy laws are governed by the Bankruptcy Act Cap 53. Confusion arises between insolvency and bankruptcy.…
HYDERABAD: The National Company Law Tribunal (NCLT), in a rare move, decided to reject the insolvency petition filed by a corporate in the ‘interest of the nation’ despite the company and lenders pleading liquidation while claiming to have explored available options. Rejecting the petition filed by Anrak Aluminium, a joint venture between India’s Penna Cement…
The Independent Electoral and Boundaries Commission (IEBC) has gazetted five additional names of Presidential candidates to take part in the October 26th repeat election. IEBC Chairperson Wafula Chebukati has added Thirdway Alliance’s Dr Ekuru Aukot, Tunza Alliance’s Abduba Dida and Independent candidates Joseph Nyagah, Michael Wainaina and Japheth Kavinga. The five will join President Uhuru…
NEW DELHI: Ultra Homes -an Amrapali Group company -has gone in for insolvency resolution.Bank of Baroda, one of the lenders to the commercial project in Greater Noida, had moved the National Company Law Tribunal to recover its dues. The principal bench of NCLT, Delhi, issued the order on the lender’s plea. The tribunal appointed Sanjay…
By BENSON WAMBUGUMore by this Author Paul Ngei: Post-independence Cabinet minister and one of the celebrated Kapenguria Six was the first Kenyan politician to be adjudged bankrupt on June 14, 1990. Numerous business ventures failed and trappings of power disappeared and Mr Ngei was forced to resign in 1991. Thereafter, his health began to fail…
By KIPCHUMBA SOMEMore by this Author The Sh500 note was named after him when it was first released in the early 1990s by the Central Bank of Kenya but this week he had run out of money. Mr Cyrus Jirongo, former Lugari MP and a presidential candidate in the August 8 General Election, was declared…