Hasan Nawaz declared ‘deliberate tax defaulter’

Hasan Nawaz, son of Pakistan Muslim League-Nawaz (PML-N) President and former prime minister Nawaz Sharif, has been declared a “deliberate tax defaulter” in the United Kingdom and fined £5.2 million. The UK government has updated its list of tax defaulters on its website, which now includes Hasan’s name. According to the website, Hasan failed to…

Electrolyser maker Green Hydrogen Systems announces layoffs amid insolvency | Technology

© Green Hydrogen Systems © Green Hydrogen Systems Green Hydrogen Systems has announced that it will undertake substantial job cuts as it undergoes an administrator-led restructuring. The Danish electrolyser maker entered a restructuring process on March 10 after filing for insolvency after efforts to secure additional financing collapsed. The District Court of Kolding appointed an…

Victoria counts the cost of rising insolvencies

Victoria has overtaken Queensland as the big state with the fastest-growing total of construction industry wrecks, highlighting the precariousness of a sector in which contractor Roberts Co shut its Victorian doors and John Holland swung to a $55.5 million loss from two infrastructure projects. New figures this week from the Australian Securities and Investments Commission…

Hospitality insolvencies fall 7% in year to January 2025

The latest insolvency statistics from the Government, released earlier this week, showed liquidations in the accommodation and food service industry fell 7% in the 12-months to January 2025, from 3,747 in January 2024 to 3,474. However, insolvencies in the sector increased 21% month-on-month, from 225 in December 2024 to 273 in January, and were up…

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Sritex, a legendary textile mill, goes bankrupt

The Semarang City Commercial Court has granted the request of one of PT Sri Rejeki Isman’s Tbk (Sritex) creditors to maintain the continuity of debt payment obligations (PKPU), thus declaring the legendary textile company bankrupt. Semarang City Commercial Court Spokesperson, Haruno Patriadi, said in Semarang, Central Java, on Wednesday, October 23, 2024, confirming the decision that befalls PT Sritex to go bankrupt. According to…