The onus is not on the electoral commission to screen or disqualify candidates, regardless of their criminal history or financial status. That responsibility rests with the High Court. According to section 44 of the Australian constitution, anyone who has been declared bankrupt, sentenced to more than 12 months in prison or is a citizen of…
Top officials of various state governments are expected to submit their suggestions to strengthen the regulations under the Insolvency and Bankruptcy Code (IBC). (Photo: Reuters) The Centre has asked states to offer inputs on ways to boost the ecosystem for insolvency resolution, an official source told FE. Top officials of various state governments are expected…
125 reading now Share your journey, news tips, interesting pictures, video and comments with other Melbourne Express readers via email or on twitter: @ebonybowden. A grey start to the day in Melbourne. Photo: Justin McManus Roberta Williams is entering politics. The convicted drug trafficker will take on Bill Shorten as the Australian People’s Party candidate for Maribyrnong at the next…
It is serendipity that the final suite of insolvency reforms largely inspired by the misconduct of disgraced liquidator Stuart Ariff will be introduced the same month Ariff finishes his parole, after serving a jail sentence on 19 counts of criminal fraud. ASIC Commissioner John Price sees the various reforms, including increased powers to the regulator,…
By Ajit Joshi Prominent Mumbai-based diamond firms in deep trouble, owe hundreds of crores to banks and lenders. News of two leading companies going belly-up has sent jitters down Mumbais diamond bourse. While a consortium of banks declared one of them bankrupt, the other has filed a voluntary petition under Chapter 11 of the United…
Its do or die for BHEL as court asks PSU to pay due amount to MSME or be declared insolvent New Delhi, Aug 26 (KNN) In a big blow to Bharat Heavy Engineering Limited (BHEL), the National Company Law Tribunal (NCLT) has asked the PSU to either pay the amount due to a MSME…
MUMBAI: ICICI Lombard, HDFC Ergo, New India Assurance and National Insurance are among the insurers who would be delivering a tailored insurance cover soon for Insolvency Professionals as the new breed of executives stare at multiple risks from charges of sabotage to negligence. While there are broad indemnity covers, these are available only for a…
The solicitor in this story, John James Kotsifas of Northcote law firm J Kotsifas & Associates, is in no way professionally related to Melbourne solicitor John Andrew Kotsifas of JK Legal Barristers and Solicitors. John Kotsifas appeared to be a typical suburban lawyer, grinding away his hours handling wills and conveyancing in a small office…
Topbonus, the frequent flyer programme that Air Berlin sold to Etihad, has followed the troubled German carrier in filing for insolvency, leaving its 4.5m customers unable to use their points despite government intervention to keep Air Berlins planes in the air. The frequent flyer scheme has been a separate company 70 per cent owned by…
Sydney madam Jamelie Lahood pursued over tax bills The interior of a room at Stiletto Bordello. Photo: Fiona Lee Quimby The interior of a room at Stiletto Bordello. Ms Lahood is said to owe the NSW government more than $190,000 in unpaid land tax. Photo: Fiona Lee Quimby Preparation to clean a room after the…