Investors file multiple police reports and some wonder if they were duped into a ponzi scheme [SINGAPORE] They each drove Lamborghinis, wore expensive watches and ran schemes where they promised investors high returns for money put into their property deals and other businesses. But just three years after self-styled wealth gurus Lim Jian Bin, 36,…
Administrators of property developer Bathla Group have until Thursday to find emergency funding for the company and avoid it turning into one of the country’s biggest real estate failures, as the company’s staff agreed to keep working without pay. Insolvency specialists Teneo were appointed to Bathla last Tuesday as it buckled under the weight of…
Exclusive: Sharron and Philip Barker began building their dream home in 2021, hoping it could be a safe haven for their kids and grandchildren. Five years on, the property is “unfinished and uninhabitable”, with the couple forced to camp out in an old bus after their builder went bankrupt. The Barkers are living on an…
SINGAPORE – They each drove Lamborghinis, wore expensive watches and ran schemes where they promised investors high returns for money put into their property deals and other businesses. But just three years after self-styled wealth gurus Lim Jian Bin, 36, and Jason Fong Wai Hong, 46, separately told dozens of investors that they could earn…
SINGAPORE – They each drove Lamborghinis, wore expensive watches and ran schemes where they promised investors high returns for money put into their property deals and other businesses. But just three years after self-styled wealth gurus Lim Jian Bin, 36, and Jason Fong Wai Hong, 46, separately told dozens of investors that they could earn…
2.101 Singaporean Culinary Businesses Go Bankrupt Amid Rising Rental Costs VOI.ID Read the original article here
SINGAPORE – They each drove Lamborghinis, wore expensive watches and ran schemes where they promised investors high returns for money put into their property deals and other businesses. But just three years after self-styled wealth gurus Lim Jian Bin, 36, and Jason Fong Wai Hong, 46, separately told dozens of investors that they could earn…
Business-related personal insolvencies are surging, with the number of Australians entering insolvency for business reasons jumping 17.8 per cent in the June quarter. New figures from the Australian Financial Security Authority (AFSA) show 1,093 business-related personal insolvencies were recorded in the June quarter, up from 928 in the same period last year. The rise was…
Sintex Industries: NCLAT upholds clean slate principle, rejects shareholder’s plea for compensation ETLegalWorld.com Read the original article here
A law does not become unjust merely because it permits a large loss. Bankruptcy exists precisely because the whole debt cannot be recovered. Nor does an asset become a gift merely because its buyer pays substantially less than the failed company once owed. Debt is not value; an admitted claim is not a market price;…