KUALA LUMPUR, 8 Oct 2016: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and September 2015, according to the Malaysian Financial Planning Council (MFPC). Deputy president Michael Kok Fook On said this group of people fail to manage their financial resources and do not understand the importance of proper…
Insolvency practitioners have confirmed that the company operating the Devon wedding venue used by Peter Andre has ceased trading leaving brides-to-be, unpaid staff and suppliers thousands out of pocket. Mamhead House and Castle Ltd is said to owe £150,000 to a string of creditors including brides due to get married at the luxury venue. Now,…
A bankrupt haulier has been disqualified for 18 months after he encouraged his former stepdaughter to apply for an O-licence as a front for him. Sean Mullins, who traded as Sean Mullins Transport, attempted to avoid the effect the revocation of his O-licence would have on his business by persuading Kerry Mullins to make an…
Johannesburg – Road Accident Fund (RAF) chief executive Eugene Watson confirmed that the institution had been insolvent since 1981 and last week had an unfunded liability of R145 billion, which was equivalent to 3.5 percent of South Africas gross domestic product. Watson, who was appointed in 2012, told Business Report in an interview that the…
Public comments sought by Oct 28 New Delhi, October 9: The Centre is moving ahead full throttle to implement an effective insolvency and bankruptcy regime, which is expected to help improve Indias ease of doing business ranking. On the heels of setting up an Insolvency and Bankruptcy Board of India (IBBI), the Centre has framed…
KUALA LUMPUR: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and Sept 2015, according to the Malaysian Financial Planning Council (MFPC). MFPC deputy president Michael Kok Fook On said this group of people failed to manage their financial resources and do not understand the importance of…
A LEIGH-based investment company left its registered office in Madeira Avenue without notice when the Insolvency Service began investigating its gold mine investment scheme. It was reported that the company refused to co-operate with the Insolvency Service before vacating tis offices. Five firms, including Santo Montana LLP in Madeira Avenue and Lorem Ipsum Trade…
The Bucharest Court approved yesterday the insolvency request of ELCEN, a state-owned power producer that also provides the heat and hot water distributed in Bucharest. KPMG was appointed the companys judicial administrator. According to the company, its total debts have reached EUR 402 million whereas its claims amount to EUR 827 million. The company has…
Standard Bank declared bankrupt, and ADIF becomes its liquidator Baku, Fineko/abc.az. Commercial Bank Standard, the activities of which discontinued from 1 October, has been declared bankrupt. The Azerbaijani Deposit Insurance Fund (ADIF) informs that it was done by Decision #2-1(81)-4498/2016 of the Baku Administrative & Economic Court #1. By the same decision, ADIF was appointed…
Boutique nightclub in Melbourne’s inner south-east has been targeted in what’s believed to be a drive-by shooting. Sources close to the well-known club in Prahran say at least three shots were fired into the front door and first floor window overnight on Thursday. No reports have been made to police about suspected gunshots to Boutique. Photo: Instagram/15minutesoffameaustralia Photographs…