With more SMEs and NFPs under financial stress, directors must be alert to the signs of insolvency. As economic activity ramps up following COVID-19, directors of many organisations are facing brutal business realities. After thebushfire disastersandthe lockdown, many are in significant distress and the outlook for cashflow is grim. Following on from long days and…
In this year of coronavirus and stay-at-home orders, quite a few companies in the retail sector have declared bankruptcy, including Modells, J. Crew, Neiman Marcus and the parent company of Mens Wearhouse. Just because a company declared bankruptcy doesnt mean its going out of business; bankruptcy is often used by companies to reorganize their debts…
Compiled by C. ARUNO, SIRA HABIBU and R. ARAVINTHAN A FAMILY of four in Tamil Nadu, India, went into hiding in a mountain because they were afraid to take the Covid-19 test, Makkal Osai reported. When a farmer in the city of Salem was found to have been infected with the virus, health officials tested…
I REFER to the latest bankruptcy threshold of RM100,000 in the recently amended Insolvency Act 1967 (Act 360). Raising the threshold in order to prevent bankruptcy is only part of the solution. There has to be an effective mechanism to prevent and rescue people from bankruptcy as well. Although 13 amendments have already been made…
Albury businessman and prominent racehorse owner Allan Endresz has been declared bankrupt for a fourth time, but is refusing to concede defeat in his marathon legal battle with the federal government. His latest legal setback came this week in the Federal Court where the Commonwealth had applied for a sequestrian order and Justice Jacqueline Gleeson…
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
Albury businessman and prominent racehorse owner Allan Endresz has been declared bankrupt for a fourth time, but is refusing to concede defeat in his marathon legal battle with the federal government. His latest legal setback came this week in the Federal Court where the Commonwealth had applied for a sequestrian order and Justice Jacqueline Gleeson…
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
New Delhi, August 27 The Finance Ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. The Code also provides for…
Good morning. Heres Yahoo Finances Friday morning wrap. ASX: The ASX is expected to lower, ahead of results from Village Roadshow, Boral and Costa. Futures were down early on Friday morning, after the ASX200 finished 0.16 per cent higher on Thursday. Wall Street: Wall Street had a mixed day on Thursday local time, with both…