The work relating to bankruptcy and insolvency has been taken out from the domain of Finance Ministry and given to Corporate Affairs Ministry. The administration of insolvency and bankruptcy code, which was until now handled by the Department of Economic Affairs under the Finance Ministry, will now be under Ministry of Corporate Affairs,…
04 August 2016 Lara Bullock View Comments Lawyers must ensure they disclose the full extent of risk to clients, as the Australian Financial Security Authoritys (AFSA’s) statistics show the number of bankruptcy cases is increasing.…
Belarus: Major fruit, veg importer declared bankrupt The Economic court of the Magilev region has started proceedings concerning the economic insolvency (bankruptcy) of the company Fruktest, one of Belarus biggest fruit and vegetable importers. A company called the Consulting Bureau has been appointed to carry out the procedure. Credit claims can be carried out over…
The Insolvency Service has wound up a pension liberation company which helped savers access their funds earlier than allowed, following a High Court battle. Thames Trustees, which acted as trustee of the Westminster Pension Scheme, coaxed clients into moving their retirement funds into the scheme, which was set up in December 2012. Clients were promised…
The company acted as trustee of the Westminster Pension Scheme (the Scheme) which was established in December 2012. Clients were induced to move their existing pension funds into the Scheme on the basis that they would receive in return a cash payment either in the form of a loan from an associated company (typically…
When Liz Todd met Christopher Smith on the dating website he had been out of prison for just 11 days A DOCTOR has spoken of her hell at the hands of a conman who tricked her out of £150,000 after they met on Plenty of Fish. Liz Todd met Christopher Smith on the dating website…
A SNAPSHOT of Rockhampton’s insolvency rates paints a bleak picture for residents and small business traders. Since March, 69 individuals have either declared or are facing bankruptcy as a result of not being able to meet their debt requirements; an increase of 11.29% on the previous quarter. The Australian Financial Security Authority (AFSA) released the…
The controversy embroiling News Corp sports journalist Phil “Buzz’ Rothfield over his relationship with notorious gambler and former brothel owner Eddie Hayson has escalated as the former partner of league star Kieran Foran attacks the journalist. “If only you would report the actual ‘truth’ of the situation instead of doing favours for your good mate Eddy [sic] and…
GREATER security for subcontract small businesses in the construction industry would increase their confidence to invest and employ more people, Housing Minister Mick de Brenni has declared. He has signed off on the engagement of Deloitte and Clayton Utz Lawyers to assist in the design of security of payment reform in Queensland based on analysis…
UK parliamentarians have criticised as wholly inadequate attempts by the former owner of retailer BHS to address the companys pension deficit and called for significant contributions to address the schemes underfunding. Philip Green was the focus of the parliamentary investigation into the retailers insolvency earlier this year, which followed Greens sale of BHS to Retail…