The Centre has taken the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India has 6-7 lakh companies that are classified as MSMEs, which could potentially benefit from the newly-introduced pre-packaged insolvency framework. A pre-packaged insolvency in the Indian framework context is an arrangement…
The Centre has used the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India currently has about 6-7 lakh companies classified as MSMEs, and potentially these many could benefit from the newly introduced pre-packaged insolvency framework. In the Indian framework context, a pre-packaged insolvency…
An IFA delegation recently met with the Minister for Justice Helen McEntee and the minister of state for law reform James Browne to discuss ongoing reform of the Personal Insolvency Act. IFA farm business chairperson Rose Mary McDonagh welcomed the Personal Insolvency (Amendment) Bill as it removes the requirement for debt to have originated prior…
From bankrupt gambling addict to multi-millionaire: AFL great Brendan Fevola and his ex-wife turned fiance sell their $2.2million Melbourne property and move into a lavish home Fevola and his fiancee Alex offloaded the Brighton East property for $2.2million They then splashed $3million on a five-bedroom home in Hampton, Melbourne The 40-year-old Lions great bounced back…
There may be an upside to the COVID-19 pandemic at least for taxpayers. The Independent Parliamentary Expenses Authority says it administered parliamentary travel expenses of $42.7 million in 2019/20, down from $59.8 million the previous year. The authority attributes the change to MPs travelling less during the pandemic. The figure was revealed in an auditor-general…
There may be an upside to the COVID-19 pandemic – at least for taxpayers. The Independent Parliamentary Expenses Authority says it administered parliamentary travel expenses of $42.7 million in 2019/20, down from $59.8 million the previous year. The authority attributes the change to MPs travelling less during the pandemic. The figure was revealed in an…
There may be an upside to the COVID-19 pandemic – at least for taxpayers. The Independent Parliamentary Expenses Authority says it administered parliamentary travel expenses of $42.7 million in 2019/20, down from $59.8 million the previous year. The authority attributes the change to MPs travelling less during the pandemic. The figure was revealed in an…
Bankrupt oil tycoon once worth 125m was caught squatting in office of struggling firm in sleeping bag and yellow pants after posing as investor and getting his MOTHER to cough up funds, tribunal hears Calum Melville agreed to invest 50k into I Need Pampering Ltd, worth 250k Took three months for Melville, on Times Rich…
Advertisement: Humans have been flying since the Wright Brothers took to the air in 1903. Of course, airlines started later with the first scheduled passenger flights in 1914 (across Tampa Bay, Florida). We take a look here at the 10 oldest. Note that some of the orders and listings could change depending on exact dates…
The global pandemic has devastated companies large and small, particularly in sectors such as travel, hospitality, and entertainment, but also in the blue-chip domains of manufacturing, retail, and energy. For many businesses, a sharp decline in revenue led to a liquidity crunch severe enough to threaten debt service and raise the specter of bankruptcy. Some…