Nufam president Ismail Nasaruddin says human resources minister has failed to defend the rights of 3,600 retrenched workers. PETALING JAYA: A union today asked if Malaysia Airlines was ever declared bankrupt, following Human Resources Minister Richard Riots claim that 3,600 retrenched workers could not seek any claims or justice through the court because the airline…
Former Lugari MP Cyrus Jirongo; commercial court declared him bankrupt for failing to pay Sh700m debt NAIROBI, KENYA: When faced with overwhelming debts obligations, some people turn to courts of law to file for bankruptcy. They compel the courts to declare them bankrupt and insolvent, meaning that they no longer have capacity to clear their…
By ABIUD OCHIENG’ Former Lugari MP Cyrus Jirongo has been declared bankrupt after the High Court found that he was unable to service his debts. Judge Olga Sewe ruled that the politician was unable to pay debt amounting to Sh700 million, which he owed some eight companies. The bankruptcy application against Mr Jirongo had been…
Disgraced sports scientist Stephen Dank, who oversaw AFL club Essendon’s doping supplements program, has been declared bankrupt. The Federal Circuit Court in Melbourne on Tuesday authorised that $12,745.08 be paid from Dank’s “estate” in favour of ABL Custodian Services, a subsidiary of Bendigo and Adelaide Bank in accordance with the Bankruptcy Act. Dank was given…
A court has declared former presidential contender Cyrus Jirongo bankrupt after finding him unable to pay debts amounting to Sh700 million. Justice Olga Sewe of the commercial division said on Monday that Jirongo’s inability to repay was demonstrated. The money is to be repaid to businessman Sammy Kogo. The judge ordered an official receiver be…
Stephen Dank has been declared bankrupt, according to a report in The Australian. The sports scientist at the centre of the Essendon and Cronulla doping sagas was today reportedly issued a bankruptcy order by the Federal Court after failing to turn up to a hearing. The report says the bankruptcy proceedings were started earlier this year…
Former Lugari MP Cyrus Jirongo has been declared bankrupt by a Kenyan court after he has been unable to pay hundred of millions shillings in debt. Commercial Court judge Olga Sewe on Monday made the ruling, following a case in which businessman Sammy Kogo had sued to have Jirongos estate put under receivership after the…
If you have a ticket to fly to Germany on Air Berlin, you may want to call your travel agent before you pack your lederhosen. The budget airline is ceasing operations by the end of the month, according to Reuters. The move is not exactly a surprise, as the company declared insolvency back in August…
Cyrus Jirongo (Photo: Courtesy) SUMMARY Businessman sues former presidential candidate for breaking promise Judge makes the decision after finding that the politician was unable to pay a Sh700 million debt Former Lugari MP Cyrus Jirongo was has been declared bankrupt after a judge found he was unable to pay a debt running into hundreds of…
NEW DELHI: The Insolvency & Bankruptcy Board of India has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with the interest of all stakeholders. This move is aimed at protecting the interests of home buyers of real estate players such as Jaypee Infratech and…