In boost to reform, Saudi Arabia’s cabinet approves bankruptcy law – Reuters

DUBAI/KHOBAR, Saudi Arabia (Reuters) – Saudi Arabias cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors. Modern bankruptcy legislation does not currently exist in Saudi Arabia, creating difficulties for struggling companies seeking to restructure debt with creditors…

Court declares controversial Coast company insolvent – Warwick Daily News

CONTROVERSIAL Sunshine Coast company Maroochy Sunshine has been declared insolvent. The Federal Circuit Court of Australia, sitting in Brisbane on Friday agreed to declare Maroochy Sunshine insolvent and appoint liquidators after a Federal Government application. Maroochy Sunshine had been accused of underpaying seasonal workers from Vanuata on the Sunshine Coast and Wide Bay to the…

UK declares Pastor Chris Oyakhilome’s church, Christ Embassy, insolvent! – Information Nigeria

The Christ Embassy church in the United Kingdom is in debt and has been declared insolvent by the Charity Commission, the agency that regulates charity organizations in the country. The church owned by popular Nigerian pastor, Chris Oyakhilome, was flagged on the Charity Commission website as charity insolvent. According to the commission, a charity is considered as being…