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Category Archives: Bankruptcy

Gateway refinances secured debt – Sault Star

BankruptcyBy Insolvency GuardianFebruary 4, 2017

The company hired to run OLG Casino Sault Ste. Marie is refinancing its existing secured debt in part to help purchase its new stake in several gambling sites in Ontario. Gateway Casinos and Entertainment Ltd., said Friday the refinancing is made up of a new capital structure including $125 million Cdn senior secured revolving credit…

Legal D-day arrives for Rod Culleton – Stock & Land

BankruptcyBy Insolvency GuardianFebruary 4, 2017

One-time Williams farmer and disqualified Senator for WA Rod Culleton will learn his fate on various legal actions today. CONVERGING legal actions in different parts of Australia will further determine the political fate of disqualified WA Senator and anti-rural banking crusader Rod Culleton today. Mr Culleton was elected for One Nation at last years poll…

Culleton loses bankruptcy appeal – SBS

BankruptcyBy Insolvency GuardianFebruary 3, 2017

Former One Nation senator Rod Culleton has lost his appeal over being declared bankrupt, capping off a bad day after the High Court earlier ruled he was ineligible to run for parliament in the first place. Mr Culleton was deemed bankrupt in December after he refused to comply with a 2013 WA District Court order…

Almost 80% of assets of banks under liquidation exist only in paper – Interfax

BankruptcyBy Insolvency GuardianFebruary 3, 2017

2017-02-03T11:09+02:00 11:09 03.02.2017 Almost 80% of the cost of assets of banks under liquidation exist only in paper, according to reports of independent appraisers, the Individuals Deposit Guarantee Fund has reported. “Assets of 70 banks under liquidation, where the revision of the assets that can be sold is finished, were appraised by independent experts at…

Culleton loses bankruptcy appeal – NEWS.com.au

BankruptcyBy Insolvency GuardianFebruary 3, 2017

Former One Nation senator Rod Culleton has lost his appeal over being declared bankrupt, capping off a bad day after the High Court earlier ruled he was ineligible to run for parliament in the first place. Mr Culleton was deemed bankrupt in December after he refused to comply with a 2013 WA District Court order…

48 declare bankruptcy in dire last quarter – Coffs Coast Advocate

BankruptcyBy Insolvency GuardianFebruary 3, 2017

BUNDABERG residents continue to struggle to pay off their debts as new figures reveal the number of locals falling into financial despair. The number of people who became insolvent between October and December last year dropped to 42, down from 44 in the September quarter. The Australian Financial Security Authority data shows the total number…

Culleton loses bankruptcy appeal – 9news.com.au

BankruptcyBy Insolvency GuardianFebruary 3, 2017

Former One Nation senator Rod Culleton has lost his appeal over being declared bankrupt, capping off a bad day after the High Court earlier ruled he was ineligible to run for parliament in the first place. Mr Culleton was deemed bankrupt in December after he refused to comply with a 2013 WA District Court order…

NDP liquidation a step closer – Stock & Land

BankruptcyBy Insolvency GuardianFebruary 3, 2017

Another creditors meeting, for the troubled milk broker National Dairy Products, will be held soon. The meeting comes amid claims the company may now be put into liquidation. Deloitte joint and several administrator Glen Kanevsky has written to creditors, telling them the next meeting would be held on Monday, February 13. The second meeting of…

Budget impact: Gifts of shares, assets in corporate restructuring now taxable – Economic Times

BankruptcyBy Insolvency GuardianFebruary 3, 2017

Mumbai/Chennai: Corporate restructuring is a common practice. Assets or shares are transferred by one company to another group company for various business reasons. Such a transfer can even be done by way of a gift, which mitigates tax liability. It is this mode that the Budget proposals now seek to plug. Currently, taxation of gifts…

Legal D-day arrives for Rod Culleton – Queensland Country Life

BankruptcyBy Insolvency GuardianFebruary 3, 2017

One-time Williams farmer and disqualified Senator for WA Rod Culleton will learn his fate on various legal actions today. CONVERGING legal actions in different parts of Australia will further determine the political fate of disqualified WA Senator and anti-rural banking crusader Rod Culleton today. Mr Culleton was elected for One Nation at last years poll…

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