The report says this exposes the parastatal to possible seizure of its assets by the lender. [Courtesy] Cash-strapped National Oil Corporation of Kenya (Nock) lost nearly half a billion shillings in a single financial year, raising its accumulated losses to over Sh3 billion. In addition, the auditor general report states that the State-owned corporations current…
Vijay Mallya, the fugitive former head of Indias United Breweries and United Spirits, is bankrupt. The 65-year-old, who lost his final court battle against extradition to India in May 2020, was formally declared bankrupt in the London High Court yesterday. The ruling has immediate effect. Mallya is required to hand over his remaining assets, as…
The company owning Chronos Cares two aged care homes in Melbourne, founded by brothers Chris and Gerry Apostolatos who within weeks were declared bankrupt, has gone into voluntary administration six days before it was required to return deposits to families of former residents. Administrator PCI Partners has assumed control of the day-to-day operation of Cronos…
{{featured_button_text}} CHARLESTON The winners at the 4-H Livestock Shows at this year’s Coles County Fair have been announced. Swine Awards Champion Duroc Barrow: Brantley Combs Champion Duroc Gilt: Cole Lemmon Champion Yorkshire Barrow: Cole Lemmon Champion Black Poland China, Barrow: Nate Shrader Champion Berkshire, Barrow: Olivia Thoele Champion Berkshire, Gilt: Ben Cummins Champion All Other…
A woman has appeared in court accused of fraudulently disposing of property by giving 75,000 to a relative while declared bankrupt. Barbara Bentley appeared at Ipswich Crown Court on Wednesday to deny the charge. The 59-year-old spoke only to confirm her name andher date of birth, and to enter a not guilty plea. Bentley, of…
‘Financially unsophisticated’ baroness wins case against crooked ‘Svengali’ lawyer who frittered away her 2m divorce payout… but may not see a penny after he declared himself bankrupt Baroness Jacqueline Van Zuylen sued celeb solicitor Rodney Whiston-Dew, 70 She gave the disgraced solicitor her 2million divorce pay out to invest in 2012 The Baroness sued Mr…
A rise in company insolvencies during the past three months is being seen as evidence that unlocking the economy has not produced the boost businesses were hoping for. R3, the insolvency and restructuring trade body which covers the South West, said a combination of low consumer confidence and a lack of mobility have hampered the…
The company dissolution process in Indonesia can be voluntary or non-voluntary. The voluntary dissolution occurs when the owners or investors of the business choose to close the business, due to a variety of reasons from low cash flow to the mismanagement of business operations to excessive company liabilities. The non-voluntary dissolution of a company is…
Its never easy at the beginning of a relationship to plan for the end, but its nave not to. The best time to put mechanisms in place to protect yourself financially is at the start of a relationship. Once a relationship begins to sour, its almost impossible for couples to agree on anything, least of…
Notwithstanding the different legal frameworks for bankruptcy and insolvency in place in various countries, all of them have two leading objectives: to facilitate liquidation of financially unviable companies, and to protect the rights of and provide equal treatment to similarly-situated creditors and other stakeholders. The Indian insolvency framework in the form of the Insolvency and…