Adriano Zumbo may have traded while insolvent, say administrators – The Australian Financial Review

Adriano Zumbo’s dessert empire may have been trading insolvent since at least mid 2017, raising questions about the dessert king’s breach of obligations as a company director. In July, three of Mr Zumbo’s companies 611 Pty Ltd, Mel 611 Pty Ltd and I’m So Fancy Pty Ltd  went into voluntary administration. According to the administrators’ report, sent to creditors…

Ryan Thomas bankrupt: Why Celebrity Big Brother star declared bankruptcy what happened? – OK! Magazine

Ryan Thomas inside the Celebrity Big Brother house during series 22 [Channel 5] Former Coronation Street star Ryan Thomas entered Celebrity Big Brothers Eye of the Storm series alongside the likes of Dan Osb… Read the full article at: https://www.ok.co.uk/celebrity-feature/1447658/ryan-thomas-bankrupt-celebrity-big-brother-bankruptcy-how-why-money

Changes aim to halt abuse of insolvency proceedings – Vantage Asia

A rise in high-profile banking frauds led to the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018. The ordinance, effective from 6 June, presses for greater transparency in the corporate insolvency resolution process (CIRP), to prevent unscrupulous persons from misusing or vitiating the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC). Deepak SabharwalManaging partnerDeepak Sabharwal…

Restaurateurs react as Boscariol’s restaurant business goes bankrupt – CBC.ca

The late Mark Boscariol’s three restaurants were closed abruptly because the company operating them was insolvent, says his family. In a release sent to CBC News Monday, the family of the entrepreneur says that decision was made while administering Boscariol’s estate. “As common in small businesses, the founder is the glue that keeps the business together through…

Hong Kong leisure projects hit by building delays – Australasian Leisure Management (press release)

Major leisure infrastructure projects in Hong Kong, including the West Kowloon Cultural District and Ocean Parks new hotel and waterpark – are experiencing significant overruns as a result of construction delays and contractural issues. At the end of last week, the West Kowloon Cultural District Authority (WKCDA) fired its main contractor following a protracted financial…