Introduction Courts’ jurisdiction Potential for reform Introduction Jersey has a familiar range of legal processes and remedies for the restructuring and insolvency of corporations. The principal provisions are contained in the Companies (Jersey) Law 1991 and the Bankruptcy (Désastre) (Jersey) Law 1990. These have been consistently applied and developed by the Royal Court. While certain…
Former young rich-listed coal mining entrepreneur and now bankrupt, Nathan Tinkler has been banned from managing businesses in Australia due to his involvement in the collapse of 11 companies. Key points: Mr Tinkler, a former BRW young rich lister, enjoyed a net worth $600 million in 2010 He and two associates breached directors’ duties…
Former Newcastle-based mining magnate Nathan Tinkler.Picture: AAPIMAGE Bankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses. The Australian Securities and Investments Commission has disqualified Mr Tinkler and Troy Palmer, the…
China and the Philippines have joined forces to tackle illegal gambling, part of Beijing’s broader campaign to curb illicit capital outflows and a pledge by Manila to weed out unscrupulous operators from the country’s booming gaming industry. The coordinated crackdown comes amid warming ties between Chinese President Xi Jinping and his Philippine counterpart Rodrigo Duterte,…
Bankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses. The Australian Securities and Investments Commission has disqualified Mr Tinkler and Troy Palmer, the former chief executive of Mr Tinkler’s Hunter…
CRAIG SIMCOX/FAIRFAX NZ Ulf Fuhrer established Aotearoa Distillers, which produced Zumwohl schnapps, in 2008. Former Wellington commercial real estate agent Ulf Michael Fuhrer has been declared bankrupt in the High Court in Wellington over debts owed to the ASB Bank. Fuhrer first appeared in March, but his case was adjourned for two months to allow some…
Paul Joyce A series of High Court decisions this year has clarified the range of possibilities for dealing with insolvent debtors mortgages, a legal policy analyst with FLAC (Free Legal Advice Centres) has said. Paul Joyce, senior policy analyst at FLAC, spoke to Irish Legal News following the High Courts decision to reject a banks…
Reuters BERLIN, May 22 (Reuters) – Reforms agreed by Greece are “remarkable” but the Greek economy is not yet competitive and Athens must press ahead with implementing its existing reforms-for-aid programme, German Finance Minister Wolfgang Schaeuble said on Monday. Schaeuble, a conservative, stuck to his position that Greece must implement its existing programme…
A second indie music festival has imploded and left consumers footing the bill. Just weeks after the Instagram-tastic collapse of Fyre Festival, a second destination event has gone full meltdown, with several major music players working to contain the damage. Pemberton Music Festival is officially bust, leaving in its wake an uncertainty for independently-promoted festivals just as the…
The High Court has rejected a banks proposal to warehouse almost half of an insolvent couples mortgage for repayment at a later date because a formal deal to resolve all their debts was a once in a lifetime solution. In a judgment that has major implications for how banks deal with insolvent debtors, Ms Justice…