Crown prosecutor Raelene Sharp opposed bail, arguing the possible risk of flight and interference with witnesses. She told the court Mr Alex, a declared bankrupt, has allegedly run businesses using a wide network of people to operate companies “on his behalf … from a paper perspective.” His access to such networks pointed to “means and…
The Insolvency, Restructuring and Dissolution Act 2018, (Act No.40 of 2018, the Act) , which came into force on 30 July, marks, for now at least, the final stage in what has been a far-reaching overhaul of Singapores insolvency and debt restructuring regime. This process had started in 2015 with some amendments to the Bankruptcy…
Unsecured creditors from across the cotton industry are being warned to expect to be repaid maybe just a fifth of their losses following the collapse of Chinese-owned merchant Weilin Trade owing about $58 million. Latest estimates suggest about 195 cotton growers, brokers, merchants and other service providers have lost money after Weilin bought cotton for…
August 05, 2020 16:35 ET | Source: Young, Marr & Associates Law Firm PHILADELPHIA, Aug. 05, 2020 (GLOBE NEWSWIRE) — Money is fragile, and when we are in possession of something fragile, we become worried. The finances are safe when nothing surprising happens, but when a sudden outbreak pandemic like corona knocks at the door,…
EXCLUSIVE: Government to extend job-saving insolvency moratorium | Sky News Australia The best award-winning journalists with unique and exclusive insights. Real news, honest views. Warning – there was an unexpected script error. Application may not work as expected. Warning – assets failed to load. Application may not work as expected. Please enable JavaScript in your…
If youre in a deep financial hole, is it worth considering bankruptcy and what happens if you do? We get some expert insight. By Mark van Dijk It can happen to anyone even famous folks like Mike Tyson, 50 Cent and Donald Trump (six times!) but what exactly does it mean? And what happens when…
Virgin Atlantic has declared itself bankrupt and is seeking protection from creditors in the US, according to a court filing in New York on Tuesday. The airline is seeking the protection under chapter 15 of the US bankruptcy code, which allows a foreign debtor to shield assets in the country. The announcement comes little more…
Updated: 2:12 p.m., Tuesday, Aug. 4, 2020 FBI agents raided a Downtown Cleveland high-rise office building that has been linked to Ukrainian oligarchs in a 2019 lawsuit alleging money laundering. A bureau spokeswoman confirmed agents were present at One Cleveland Center on East 9th Street Tuesday morning. The building belongs to Optima Management Group, a…
These are without doubt, unprecedented times. Small businesses in virtually every sector are struggling financially and facing concerns about what is ahead and how they will survive. Since May over a million bounce back loans have been issued, the 100-per-cent Government-backed loan scheme to support small businesses during the pandemic. But according to banks, its…
How did you move into specialising in insolvency? Newcastle born and bred, I moved to Sydney after finishing my commerce degree at Newcastle Uni. I joined accounting firm Grant Thornton when they were handling the restructure of Patrick Stevedores during the 1988 Australian waterfront dispute, which helped change Australian workplace law forever. I also handled…