Wexford TD Mick Wallace, who was declared a bankrupt on Monday, has arrears totalling 235,571 on mortgages associated with three houses he owns, according to his statement of affairs. All three semi-detached properties are in negative equity and are secured against mortgages from AIB and also secured against loans from ACC. Mr Wallaces family home…
Mick Wallace TD declared bankrupt in High Court 20 December 2016 From the section Europe Image copyright Irish parliament Image caption The High Court also heard that Mr Wallace has total debts in excess of 30m euros The independent Irish TD (MP) Mick Wallace has been declared bankrupt at the High Court in Dublin. The…
CBN Governor, Godwin Emefiele English decisions suggest that the duties are owed for the benefit of creditors: HLC Environmental Projects Ltd v Carvalho (2014) BCC 337, 362; Colin Gwyer & Associates Ltd v London Wharf Ltd (2003) BCC 885, 906 [74]; West Mercia Safetywear Ltd v Dodd (1988) BCLC 250 at 253;Brady & Anor v Brady & Anor (1987) 3 BCC 535, 552. In contrast, Australian authorities such as Walker v Wimborne (1976) 137 CLR 1 and Bell Group Ltd v Westpac Banking Corp (2012) WASCA 157 and leading judicial authorities in New Zealand such…
Published Dec. 20 at 11:18 am Depositors of the Nadra Bank wait in line to try to withdraw their money on Feb. 6, 2015, a day after the bank was declared insolvent. Photo by UNIAN Popular on social media The Individuals Deposit Guarantee Fund has completed the forensic audit of Bank Nadra (Kyiv), as a…
The bankruptcy will not affect Mr Wallace’s seat as the law disqualifying a bankrupt person from being a member of the Dáil was abolished in 2014. But it means that control of his assets is now in the hands of Official Assignee, Christopher Lehane, who will seek to realise whatever value he can for creditors.…
The announcement Wednesday that Swiss Space Systems had been declared bankrupt by a Swiss court caught local partners by surprise. See: Swiss Space Systems declared bankrupt Canadore President George says he learned of the bankruptcy at the same time as everyone else last week after reading media reports. “I’m disappointed of course because we had a…
Central bank governor Valeria Gontareva said they were confident the decision to transfer PrivatBank to state ownership was “the only possible way to protect deposits placed with this bank and rescue the financial system”. The 20 million Ukrainians who use the bank include 3.2 million pensioners, more than 500,000 students and 1.6 million socially vulnerable…
The High Court in Christchurch has banned property developer David Henderson from running a company for six years on top of his six-year-long bankruptcy, which is set to be lifted next month. Associate Judge Rob Osborne has ordered a number of restrictions on Henderson’s dealings in a 134-page judgment, which will release the developer from…
Image copyright Reuters Ukraine’s biggest commercial bank, PrivatBank, has been nationalised in a move aimed at protecting 20 million customers and “preserving financial stability in the country”. The country’s central bank said the problems faced by PrivatBank were mainly caused by its “imprudent lending policy” which led to capital losses. Ukraine’s president Petro Poroshenko has…