By Associated Press Published: 08:28 EST, 3 April 2016 | Updated: 08:28 EST, 3 April 2016 SAN JUAN, Puerto Rico (AP) Management employees at Puerto Rico’s disabled workers fund are warning that its $445 million investment in the financially-strapped Government Development Bank could be at risk if the bank is declared insolvent and pushed into…
BUCHAREST, Romania (AP) Prosecutors have indicted a pioneer in Romania’s post-communist media market and ten others with tax evasion, instigation to tax evasion and money laundering. The prosecutor’s office said Friday that Adrian Sarbu, founder of the Mediafax Group in 1991, Mediafax itself, former managers, finance directors and a lawyer have been sent to trial…
By Associated Press Published: 21:59 EST, 1 April 2016 | Updated: 21:59 EST, 1 April 2016 BUCHAREST, Romania (AP) Prosecutors have indicted a pioneer in Romania’s post-communist media market and ten others with tax evasion, instigation to tax evasion and money laundering. The prosecutor’s office said Friday that Adrian Sarbu, founder of the Mediafax Group…
RAGS-TO-RICHES coal baron Nathan Tinkler, who rode the mining boom to become Australias youngest billionaire before losing it all when coal prices collapsed, has been declared legally bankrupt after failing to pay off a private jet. The bankruptcy order comes 10 years after the 40-year-old scraped together a A$1 million (US$728,700) deposit for a rundown…
By Dan Fitts. Key Points: Companies that have leasing as a small and irregular part of their overall business still must comply with the PPSA if their interests in leased goods are to be protected. Ad hoc leasing arrangements might not be a core part of your business, but they could still mean you’re regularly…
Insolvency is a word that conjures up a range of emotions most of them negative. Insolvency practitioners are placed in a position of trust. Their job is to realise assets and pursue recoveries on behalf of an insolvent companys creditors. The proper conduct of an insolvency process requires a broad range of commercial, financial and…
Introduction Wrongful trading the law Knowledge Solvency Ralls Builders Decision Reasoning Contribution and loss Comment Introduction Generally, directors are focused on making a success of the business to which they are appointed and the prospect of insolvency and the potential for personal liability often seems remote. Indeed, many directors will never have to face the…
Public defenders in New Orleans stopped taking complex felony cases in January due to depleted resourcesthe result of Louisianas poor funding formula for services to aid those who cant afford lawyers. Louisiana is bound by both its state constitution and the U.S. constitution to provide these services no matter what. That obligation has been compromised,…
Governor Matt Bevin addressed concerns about the embattled Benefind system during a press conference on Thursday Buy Photo Walkway on the Eskstrom Campus of the University of Louisville.(Photo: Sam Upshaw Jr./CJ)Buy Photo FRANKFORT, Ky. – House Speaker Greg Stumbo said Friday that Gov. Matt Bevin lacks the legal authority to make the 4.5 percent funding…
POSITIVE OUTLOOK: Insolvencies dealt with quickly and early can work out better for staff and management. DESPITE the havoc being caused in global stock markets by the continuing low price of oil, the latest figures from Scotlands insolvency service suggest an ongoing trend towards a long-term decline in personal insolvencies. In January the Accountant in…