The companies comprising the Allphones Group were hit hard by the Samsung Galaxy Note 7 debacle, iPhone 7 delays, and multiple contract terminations in the lead up to the withdrawal of funding that saw the businesses enter administration in February. Mobile phone retailer, Allphones, went into voluntary administration in February, with at least 18 of…
Northern Territory-based Mining services provider and freight forwarder, ICRG North, has gone into voluntary administration. ICRG North is the NT division of Perth-based ICRG West, which currently provides civil construction, freight forwarding and mining services for a number of Government projects in the region. According to local newspaper, NT News, ICRG North owes $2.5m to…
Alexi Mostrous, Head of Investigations | Deirdre Hipwell, Retail Editor Karen Millen, the fashion designer who for 20 years helped to define what women wore to work, has been declared bankrupt over unpaid tax. Ms Millen, who was appointed OBE in 2008, failed to pay a demand from Revenue & Customs of about £6 million arising from her involvement in…
A Tory councillor who was landed with an £80,000 legal bill after slapping an elderly political rival could now lose her home after being declared bankrupt. Cllr Penny Jackman, 52, was ordered to pay compensation to rival Mike Beggs, who was standing for UKIP, after she slapped him at an election count in 2012 during…
KUALA LUMPUR: Social guarantors will no longer be declared bankrupt if borrowers fail to repay their debts. However, this does not absolve the social guarantors from other forms of legal debt recovery. This was one of the key points in the Bankruptcy (Amendment) Bill 2016 which was passed in the Dewan Rakyat yesterday. Social guarantors…
Disqualified One Nation senator Rod Culleton has played his next card in his campaign against his removal, bizarrely claiming in a 15-page letter to Prime Minister Malcolm Turnbull that courts are invalid because WA has written itself out of the Commonwealth. But the self-described senator in exile appears to have effectively pronounced his own election…
A small business owner has opened up about the difficulties of managing cashflow in a growing business, after his personal training company Rapid Personal Training entered liquidation yesterday. Insolvency firm Hogan and Sprowles has been appointed to manage the liquidation of Rapid PT, which employs three full-time staff and 17 contractors, and has seven locations spread across Sydney and…
WICHITA A Parsons woman was indicted Tuesday on federal charges of embezzling more than $5 million from a credit union that was declared insolvent and liquidated in 2014, U.S. Attorney Tom Beall said. Nita Rae Nirschl, 64, of Parsons, is charged in an 81-count indictment including 22 counts of embezzlement, 37 counts of money laundering,…
On 30 March 2017, the European Economic and Social Committee (EESC) adopted an opinion on the European Commission’s proposed directive on business insolvency, which is intended to harmonise preventive restructuring procedures across Europe. While fully supporting the Commission’s shift from liquidation to early restructuring in dealing with business insolvency, the EESC proposes a set of…
Pacific Andes intends to continue its restructuring process. Two subsidiaries of Pacific Andes request to be declared bankrupt HONG KONG Wednesday, March 29, 2017, 02:50 (GMT + 9) As part of its restructuring process, Pacific Andes International Holdings (PAIH) announced that two indirect subsidiaries, Golden Target Pacific Limited and Nouvelle Foods International Limited, have filed…