The United Nations Convention on the Law of the Sea says that ships have the nationality of their flag state, and that ships are subject exclusively to the flag states jurisdiction on the high seas. The flag state also has a duty to assume jurisdiction over the ship, its officers and crew. However, the European…
18:41 13 July 2016 Sabah Meddings An oil rig in the North Sea. Pic: Danny Lawson/PA Wireure Insolvency experts have warned of the widening impact of the enduring oil and gas downturn on the region. It com… Read the full article at: http://www.edp24.co.uk/business/insolvency_experts_warn_of_ripple_effect_of_oil_and_gas_downturn_as_companies_stop_trading_1_4614604
THE iconic Eimeo Pacific Hotel is for sale and goes to auction in two weeks. Known locally and around the country as the pub with the best ocean views in Mackay, the long-term family-owned hotel will be auctioned on Friday, July 29. The Pacific Hotel at Eimeo, which was rebuilt by the licensee Mrs L.…
Personal insolvencies have risen for the first time since the GFC, according to data released by the Australian Financial Security Authority. Personal insolvencies jumped by 4.4 per cent in the last year, the first increase reported since the 2009 financial year. The big resources states Western Australia and Queensland were the main contributors,…
Newly set up Bulgarian co buys insolvent electric motor plant Elma for 1.1 mln euro Kritchanut/Shutterstock.com SOFIA (Bulgaria), July 13 (SeeNews) – A recently-registered Bulgarian real estate company, Solid-85, has won an auction for the sale of insolvent electric motor plant Elma, offering to pay 2.15 million levs ($1.2 million/1.1 million euro) for its assets,…
Dick Smith administrator Joseph Hayes from McGrathNicol. David Rowe There is nothing like a clinical post mortem to lift the corporate veil and reveal the desperate actions taken by a company sliding rapidly towards insolvency. Chanticleer can thank the administrator of Dick Smith Holdings, Joe Hayes from McGrathNicol, for a particularly well written case study…
The financial review also addresses the ability of management to successfully manage the company out of its financial difficulties. voluntaryadministrationexperts.com.au are insolvency advisors that have true depth of experience in the field of insolvency. This experience empowers them to offer the following value services: Financial Review:A business that is unsure of where it stands financially…
Source: AAP Image/Julian Smith He was once counted among the wealthiest Australians, but former mining magnate Joseph Gutnick has declared bankruptcy, with reported debts of $275 million. Back in 2010, Gutnick returned to the BRW Rich List with estimated wealth of $300 million, after an absence of more than 10 years. At the time he…
07:02 13 July 2016 Sabah Meddings An oil rig in the North Sea. Pic: Danny Lawson/PA Wireure Insolvency experts have warned of the widening impact of the enduring oil and gas downturn on the region. It com… Read the full article at: http://www.edp24.co.uk/business/insolvency_experts_warn_of_widening_impact_of_oil_and_gas_downturn_as_another_company_shuts_up_shop_1_4614604
By Martin North, cross-posted from the Digital Finance Analytics Blog: The Australian Financial Security Authority today released the personal insolvency activity statistics for the June quarter 2016. Total personal insolvencies increased 13.7% in the June quarter 2016 compared to the June quarter 2015. This is the largest rise since the March quarter 2009, when compared…