Richa Roy and Zubin Mehta On the second anniversary of the Insolvency and Bankruptcy Code (Code) many of its achievements deserve celebration including fostering credit discipline and improving upon a culture of impunity. And yet, there has been a gamut of reactionary amendments to the Code, the intent and timing of several of which raise…
The bosses of the broke money-moving app Bux Global are proving hard to find as dudded investors continue to pursue them for more than $500,000 in legal costs. As revealed by The West Australian, more than 300 WA investors sank $100 million into the dud mobile phone application the brainchild of founder Raymond Webber and…
People who make a living guiding others through bankruptcy in Canada say theyve never been busier. Record debt burdens, rising borrowing costs and, in some cases, bigger payday loans are driving many Canadians to seek relief, according to several licensed insolvency trustees who spoke to Bloomberg. They say November was their busiest on record, and…
Published 20 December 2018 Six solicitors and four barristers have been reappointed to the Personal Insolvency Practitioners Complaints Committee panel for five years. The Department of Justice and Equality wrote to all 18 members of the inaugural panel, established under section 177 of the Personal Insolvency Act 2012, to ask them if they were…
The latest financial statements of the Nova PropGrow Group, the rescue vehicle of the failed Sharemax investment scheme, show the company is on the verge of insolvency. The financial statements, which were published three months late, also received a qualified audit opinion from the groups new auditor, Nexia SAB&T. The qualified opinion not only questioned…
Article written by PittStreet Research. For the full report click here Unique proposition in the lucrative bankruptcy services Credit Intelligence (ASX:CI1) is a Hong Kong-based debt restructuring and personal insolvency management service provider. CI1 has been a trusted partner for global banks for over 16 years. Considering the significant number of personal insolvency cases every…
Opinion Jessica Walker and Philip Gilliland 19 Dec 2018 04:03pm While the world of insolvency may often appear murky, in reality very few insolvencies result directly from fraudulent or criminal beha… Read the full article at: https://economia.icaew.com/opinion/december-2018/wine-and-insolvency
Halifax Mannin Ltd and Hey Design Services Ltd have been placed in provisional liquidation following a hearing at the High Court on 18 December 2018. This followed applications issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy. Halifax Mannins registered office is in Blaenau Ffestiniog, Wales,…
Paul James Manley (63), from Wembley, North-West London, was disqualified for 12 years on 11 December 2018 and his ban is effective from 1 January 2019. Incorporated in 1994, County West Commercial Services Ltd was an accountancy firm based in Hammersmith. Paul Manley was a director of the company and 13 years later, County West…
The Sofia city court declared Bulgarian operator Max Telecom insolvent in a case opened at the request of local M Sat Cable over a BGN 116.2 million debt, writes SeeNews.com citing documents filed with the commercial register. Max Telecom failed to make two payments worth BGN 67.6 million to M Sat Cable as agreed in…