Wednesday, February 17, 2021 COVID-19 continues to disrupt normal business operations, creating liquidity problems and negative working capital for many companies. As fund sponsors take actions to help their portfolio companies navigate through this time, they should alsosensitize directors to insolvency issuesand the associated litigation risks. As we have previously highlighted, bothfunds and fund managers…
A CREDITOR wants the former operator of the goldfield under Bendigo declared insolvent because of a debt of just over $200,000. The Bendigo Advertiser has obtained a court document alleging Kralcopic Pty Ltd has failed to pay back $234,308.40 owed to company Gold Miners Australia Pty Ltd. It comes as Kralcopic fights on multiple fronts…
She hoodwinked investors by cooking the books of her wellness website, now glamorous social media influencer Bianca Cheah has been declared bankrupt. In 2019, the NSW Supreme Court ordered Ms Cheah and her husband Simon Chalmers to pay the former Australian boss of investment bank Lazard Garren Cronin and his wife Emma more than $1…
Our ref: FOI20/21-146 Date: 21 December 2020 Dear , Re: Freedom of Information Act 2000 Thank you for your email of 30 November in which you requested from the Insolvency Service: I am writing to ask if it would be possible to have the following data set from the Insolvency Service Individual Insolvencies by ward…
I would like to know whether the one-third payout from a retirement annuity at retirement age would be protected from creditors? Thank you for sending your question through. You have raised a very important question as it is vitally important to understand how and when your retirement fund benefits enjoy protection from ones creditors. At…
image copyrightRobert Melenimage captionClare Louise Thomas, also known as Louise O’Halloran, has previously refuted all allegations against her and her business A businesswoman who was one of the Scarlets rugby team’s main sponsors has been declared bankrupt. Clare Louise Thomas’ firm Juno Moneta Group owes the region more than 500,000, believed to be in relation…
Perini Navi’s 230-foot-long Sybaris that was designed by Phillipe Briand won great acclaim in 2018. Perini Navi Two of the worlds leading yacht buildersFerretti Group and Sanlorenzoalso happen to beItalianyacht builders. So, Im not surprised that when news of another storied Italian superyacht builderPerini Naviwas in financial distress, the leadership teams from the Ferretti Group…
A Victorian principal spent almost $23,000 of his government-funded school’s money on gambling, booze, gift cards and an overseas holiday. Between 2016 and 2018, cheques for school equipment were deposited into the principal’s own bank account, at his request, resulting in the misuse of $22,850. Ombudsman Deborah Glass declined to name the principal or school…
For most directors, COVID-19 has caused a shock to their business. Either a bad shock, where business viability and sustainability has been challenged, or a good shock that has led to a surge in demand for products and services. Usually shocks lead to action you suffer a heart attack, and you and your family reassess…
A Victorian principal spent almost $23,000 of his government-funded school’s money on gambling, booze, gift cards and an overseas holiday. Between 2016 and 2018, cheques for school equipment were deposited into the principal’s own bank account, at his request, resulting in the misuse of $22,850. Ombudsman Deborah Glass declined to name the principal or school…