ATO and ASIC raid 13 properties linked to pre-insolvency firms allegedly encouraging phoenix activity – SmartCompany.com.au

The Australian Tax Office and the Australian Securities and Investments Commission have conducted raids on 13 businesses and residences across the country in a bid to crack down on pre-insolvency firms that advise clients on how to avoid tax. Some 120 ATO officers teamed up with their ASIC counterparts on Thursday to collect documents and…

Potential liability of chartered accountants for delaying insolvency proceedings – International Law Office (registration)

Chartered accountants’ obligation to comment on overindebtedness Liability of chartered accountants Comment Chartered accountants entrusted to draw up financial statements must also examine the company’s status of overindebtedness in terms of insolvency law if its accounts show that it is overloaded with debt. However, in practice, this task is often neglected, as the fact…

Abengoa Reaches Creditor Agreement in Bid to Fend Off Insolvency – Bloomberg

Abengoa SA won agreement from major creditors for a rescue plan, potentially averting Spains largest corporate insolvency. Investors including Elliott Management Corp., Centerbridge Partners LP and Varde Partners LP will provide 1.17 billion euros ($1.3 billion) of new loans in exchange for a 50 percent stake, according to a regulatory filing on Thursday. The renewable-energy…

Fitch Rates Fannie Mae’s Connecticut Ave Securities, Series 2016-C05 – Yahoo Finance

NEW YORK–(BUSINESS WIRE)– Fitch Ratings has assigned the following ratings and Rating Outlooks to Fannie Mae’s risk transfer transaction, Connecticut Avenue Securities, series 2016-C05: –$385,709,000 class 2M-1 notes ‘BBB-sf’; Outlook Stable; –$257,139,000 class 2M-2A exchangeable notes ‘BB+sf’; Outlook Stable; –$459,178,000 class 2M-2B exchangeable notes ‘B’; Outlook Stable; –$716,317,000 class 2M-2 notes ‘Bsf’; Outlook Stable; –$257,139,000…

Mexicos Oceanografia declared bankrupt – Business News Americas (subscription)

‘); eIFD.close(); var s = eIFD.createElement(‘SCRIPT’); s.src = schemeLocal() + ‘://’ + (eS2 ? eS2 : eS1) + ‘/layers/epl-41.js’; eIFD.body.appendChild(s); if (!eS2) { var ss = eIFD.createElement(‘SCRIPT’); ss.src = schemeLocal() + ‘://ads.us.e-planning.net/egc/4/123cd’; eIFD.body.appendChild(ss); } eplLL = true; return false; } } … Read the full article at: http://www.bnamericas.com/en/news/oilandgas/mexicos-oceanografia-declared-bankrupt