A fraudster who was fined more than 1m and declared bankrupt over a separate scam costing investors 3.7m has been approved by City regulators to run a new financial company. Samuel Nathan Kahn, 49, was fined 1.1m in 2011 by the Financial Services Authority (FSA), the regulator at the time, for inflating a companys share…
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When public oil and gas companies are doing relatively well, many are happy to adopt a pay-for-performance model to reward CEOs and executives. However, the tables are quickly turned when things go to the dogs. When these companies go bankrupt, the misery is shared by employees who lose their jobs; retirees see their benefits and…
Rugby Australia is expected to start laying off staff as early as this week after finally completing its 2019 financial report. The heartbreaking decision to cut jobs looms as the only way the cash-strapped code can survive in the future even after getting the thumbs up to continue operating from its accountants KPMG. Despite being…
Britain’s biggest shopping centre-owner has put administrators on standby as it enters a crucial fortnight that will determine whether it emerges from the COVID-19 pandemic intact. Sky News has learnt that Intu Properties, which directly employs more than 2,000 people, is lining up KPMG to handle an insolvency process if lenders refuse to grant a…
Rugby Australia is expected to start laying off staff as early as this week after finally completing its 2019 financial report. The heartbreaking decision to cut jobs looms as the only way the cash-strapped code can survive in the future even after getting the thumbs up to continue operating from its accountants KPMG. Despite being…
A man who was declared bankrupt in 1995 after a four-year tax investigation is angry at the loss of an old personal pension that he paid into for seven years. Edmund Watters, 61, took out the policy with Confederation Life (now Sun Life Financial of Canada) in January 1991 when he earned 25,000 a year…
Thailand’s cabinet has approved a plan to restructure troubled Thai Airways’ finances through a bankruptcy court. The plan for a court-led restructuring of the national carrier replaces a previous proposal of a government-funded rescue package that was heavily criticised in the country. The state-controlled airline’s troubles are the latest example of how the coronavirus pandemic…
SUBCONTRACTORS will likely be the big losers from the collapse of council-favoured Ri-Con Contractors with the latest report revealing they are unlikely to see a cent of the almost $5 million owed. The report lodged with ASIC by liquidator Worrells revealed the company, which won multimillion-dollar contracts with the Gympie, Sunshine Coast and Noosa councils,…
SUBCONTRACTORS will likely be the big losers from the collapse of council-favoured Ri-Con Contractors with the latest report revealing they are unlikely to see a cent of the almost $5 million owed. The report lodged with ASIC by liquidator Worrells revealed the company, which won multimillion-dollar contracts with the Gympie, Sunshine Coast and Noosa councils,…