Pak-UK businessman declared bankrupt by London court over loan fraud – The News International

LONDON: Atta-ul-Haq, founder of Pakistan Achievement Awards and director of UK-Pakistan Chamber of Commerce & Industries (UKPCCI), has been declared bankrupt by a court after failing to pay loan to respected British Pakistani businessman Raja Adil. The County Court in central London confirmed that Atta Ul Haq stands officially bankrupt following his non-appearance at the…

Vocational loans scheme scrapped, loans to be capped under major Turnbull government shake-up – The Sydney Morning Herald

Dodgy private colleges will be banned from receiving taxpayer money and student loans capped under a sweeping redesign of the scandal-plagued vocational loans scheme by the Turnbull government. The overhaul, to be announced by Education Minister Simon Birmingham on Wednesday after being approved by cabinet on Tuesday, will wipe an estimated $25 billion from federal…

‘Modified universalism’ considered for the first time in a Scottish corporate insolvency case – Shoosmiths legal updates (press release)

An opinion issued this week is the first examination by a Scottish court of the principle of ‘modified universalism’ and the requirements for an enforceable floating charge where all the company’s property is situated in a non-UK jurisdiction. This opinion by Lord Tyre in the Court of Session concerns three companies incorporated in Scotland, but…