An Auckland concrete con artist who ripped off customers and operated a business for years while bankrupt has been jailed. Gordon Paul Bayne was sentenced at the Auckland District Court on Wednesday to two years and six months in jail, after pleading guilty to three charges under the Insolvency Act 2006. Judge Evangelos Thomas said…
Clive Palmer’s failed Queensland Nickel refinery was insolvent in the days before administrators were called in, a judge has found. Key points: Justice Mullins says claims against Mineralogy by liquidators could not succeed Clive Palmer says the ruling “vindicates” his faith in the justice system He says he will now consider seeking compensation But Justice…
Paul McLean has achieved two of his three goals before stepping down. Rugby Australia met the second of outgoing chairman Paul McLeans three targets before his retirement on June 15, when it signed off on the companys 2019 financial accounts, following the completion of an audit by KPMG. McLeans goals were to secure a new…
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…
Many businesses are suffering serious financial difficulties as a result of COVID-19, particularly those in the retail, hospitality and tourism sectors. For many of these businesses the one asset that will undoubtedly retain value, despite the pandemic, will be their customer database. This valuable commodity could help attract potential purchasers. But this is a tricky…
Introduction Debt collection through bankruptcy filing before COVID-19 Pre-judgment attachment before COVID-19 Changes due to COVID-19 Comment Introduction Under Dutch law, the creditor of a claim has various measures at its disposal to collect a debt or ensure recourse, including: debt collection through a bankruptcy filing; and pre-judgment attachment. The execution of these measures requires…
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…
Professional services consultancy Begbies Traynor has acquired a portfolio of 503 Scottish personal insolvency cases from Grant Thornton UK for up to 500,000. Begbies Traynor said the deal involved an initial payment of 250,000, with the same on offer subject to fee income generated from the caseload post-completion. The AIM-listed group said on Monday that…
The UK government introduced the Corporate Insolvency and Governance Bill (CIGB) to Parliament on 20 May 2020. As well as including temporary measures to help support businesses affected by COVID-19, it proposes significant permanent changes to UK insolvency law. These proposed permanent changes include a new company moratorium: a mechanism to give a company in…
A seven-time bankrupt has been sentenced to over two years in jail after pleading guilty to more than a dozen bankruptcy offences in the District Court of Western Australia. John Derek Overton, formerly known as John Derek Elvey, from Western Australia, has been sentenced to imprisonment after being convicted of 17 charges relating to bankruptcy.…