A JURY today found veteran Rockhampton solicitor Douglas John Winning guilty of official corruption. The 67-year-old was subsequently sentenced in Rockhampton District Court to nine months’ jail, wholly suspended for 18 months. Mr Winning had pleaded not guilty to the charge which stemmed from allegations he tried to bribe two police officers after he was…
Ruby Tuesday’s decline was several years in the making, becoming even more rapid during the pandemic and prompting speculations from industry insiders about the growing likelihood of a bankruptcy. Back in April, it was reported that the company had closed about 30% of its 470 locations permanently. Closures continued into the summer, some taking place…
THE financially troubled Air Namibia is opposing a High Court application in which a Belgian lawyer wants the national airline to be declared bankrupt and liquidated. The airline has given notice that it will be opposing an application for its liquidation, which was filed at the High Court late last week. In the application, Belgian…
One of the oldest Italian jeans brands, Rifle, might stop existing as The Tribunal of Florence has declared it officially bankrupt, according to Italian press reports. The company based in Barberino di Mugello, near Florence, has been facing difficulties in the last years. In 2017 Sandro Fratini, son of Giulio, co-founder of the brand with…
Urgent bill It removes the gateway condition that mortgage arrears must predate 1 January 2015. The minister said yesterday: This short but urgent bill tackles a number of issues in existing legislation. In the context of the current pandemic, these problems risk denying homeowners in difficulty the protection afforded by the personal insolvency acts if…
Borrowers in mortgage arrears to gain vital court protection Published 5 October 2020 Helen McEntee Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain vital court protection under new legislation announced today. Justice Minister Helen McEntee has secured government approval for priority drafting of the short but urgent Personal…
The diocese of Camden in New Jersey has become the second diocese in the United States to file for bankruptcy last week. Bishop Dennis Sullivan of Camden announced the decision on Oct 1 and said new abuse lawsuits and the $8 million in payouts had forced the diocese to file for bankruptcy. I take some…
With individual insolvency now identified as IBBIs next big reform area, the insolvency regulator has decided to appoint an external institution or an agency for undertaking a research study on individual indebtedness and insolvency. This external agency once selected by IBBI will have a maximum of one year to complete the research report. Insolvency and…
Borrowers in mortgage arrears to gain vital court protection Published 5 October 2020 Helen McEntee Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain vital court protection under new legislation announced today. Justice Minister Helen McEntee has secured government approval for priority drafting of the short but urgent Personal…
Economy State moves to seize SK Macharia assets in bankruptcy order Monday October 05 2020 Businessman SK Macharia. FILE PHOTO | NMG By OTIATO GUGUYUMore by this Author Summary The High Court in 2001 ordered Mr Macharia to repay the debt with an annual interest of 19 per cent that is compounded monthly from December…