Charles Sykes/Bravo/NBCU Photo Bank via Getty Images Celebrities can get rich, but that doesn’t necessarily mean that they’re good with money or that they’ll always have wealth at their fingertips. Many well-known stars have had to declare bankruptcy. Sonja Morgan of “Real Housewives of New York City” (seen here on “Watch What Happens Live with…
The NSW Small Business Commissioner Chris Lamont has recommended special provisions be introduced for small business to help them better understand the insolvency process and have greater confidence in it. In a submission to a parliamentary inquiry into Australia’s insolvency laws, Commissioner Chris Lamont said businesses found the laws difficult to understand and were wary…
Conservative MP Adam Afriyie declared bankrupt due to £1.7m debt BBC Read the original article here
Polo-playing bankrupt businessman Michael King will repay 4¢ for every $10,000 owed to creditors in a best-case scenario, according to his bankruptcy trustee. Gold Coast-based Mr King was a former BRW Rich Lister who dreamt his ASX-listed funds management outfit MFS would become a mini Macquarie Bank before it collapsed in the global financial crisis.…
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Jeenah Moon | Bloomberg | Getty Images Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection in the U.S.,…
The residential construction industry in Australia is facing challenges due to the sharp rise in construction input costs, compounded by shortages of labour and materials, which has eroded profit margins on existing fixed-price contracts (Graph C.1). Reflecting these pressures, a number of large residential construction firms have entered into insolvency over the past year.…
Dubai courts have also ordered the precautionary seizure of all balances, accounts and funds of Arabtec Holding, and its subsidiaries. “The parties to the seizure must therefore acknowledge what is in their debt within the legal term from the date of being notified, while preventing their employees from paying to others within the limits of…
Former WA One Nation senator Rod Culleton has been charged with allegedly giving false information to the Australian Electoral Commission. Key points: It is alleged Rod Culleton falsely declared his financial circumstances He was charged after a federal police investigation He has denied any wrongdoing and plans to fight the allegations Rod Culleton was charged after a…
The Board of the National Bank of Ukraine has declared BANK SICH JSC insolvent for failure to discharge its liabilities to the NBU within the period prescribed in the refinancing loan agreement due to the lack of funding. BANK SICH JSC failed to pay interest on refinancing loans for July 2022 in violations of terms and conditions…
In April 2022, the ATO began writing to batches of company directors in relation to unpaid liabilities informing them about the risk of their personal liability for unpaid company tax debts. If not actioned, directors are at risk of receiving a Director Penalty Notice (DPN). These letters pre-DPN will continue to be…