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…
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…
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…
Related Story: Senate recount after High Court rules Culleton’s election invalid Former One Nation senator Rod Culleton has lost an appeal against a Federal Court ruling declaring him bankrupt, in his second legal loss today. Mr Culleton had fought the finding on several grounds, including that he was solvent when the…
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…
Hanjin Shipping is expected to be finally declared bankrupt on 17 February a Seoul court said today. The Seoul bankruptcy court decided to end Hanjins receivership process on 2 February setting a date of 17 February for the company to be declared bankrupt following appeals. The court found that Hanjins liquidation value would be higher…
Predicting the form and substance of mainland Chinese bank failures has become a cottage conspiracy industry among research analysts and hedge funds. A more enlightening exercise is observing how other current government authorities and bank leadership have succeeded or failed, or have been swamped by indecisiveness and serial mediocre decisions in the face of default.…
Total corporate insolvency in Western Europe will fall by -4 per cent in next 12 months UK business insolvency will rise by +5 per cent in the next 12 months as the economic slowdown, rising input prices and increased late payment risks begin to take their toll, according to Euler Hermes. This is in sharp contrast with…
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…
With major firms having a footprint all over the world, there is a need for a common court framework that makes tackling cross- border insolvency matters more efficient and less expensive. The first step was taken yesterday, with the Singapore Supreme Court and US Bankruptcy Court for the District of Delaware adopting guidelines for cost-cutting…