The gold mine at the centre of WAs latest corporate collapse will remain open while insolvency experts assess what can be salvaged for creditors owed more than $100 million. Administrators from FTI Consulting were called into Gascoyne Resources by its directors on Sunday, only weeks after raising $24.5 million from shareholders and creditors through brokers…
AsianScientist (Jun. 3, 2019) By Jeremy Chan Amidst uncertainties in the global economy whether they be caused by international tensions or digital disruption companies may suddenly find themselves facing financial hardship. Should debt exceed income for extended periods of time, the likelihood of defaulting on payments to creditors rises, and the shadow of insolvency looms…
The fourth member of the group being pursued for damages by the Omagh bomb victims has been declared bankrupt. The 1998 Real IRA attack killed 29 people including a mother nine months pregnant with twins. Over 200 people were injured. Court A spokesman for the Belfast High Court confirmed that Seamus Daly was adjudged…
A vulture fund objected to a financial rescue plan for a heavily indebted Co Offaly firefighter, arguing that he could pay more off his mortgage from his familys child benefits. The High Court overruled the objections of Promontoria, owned by US private equity giant Cerberus, on Monday, approving a 75,000 write-down on the debts of…
A vulture fund objected to a financial rescue plan for a heavily indebted Co Offaly firefighter, arguing that he could pay more off his mortgage from his familys child benefits. The High Court overruled the objections of Promontoria, owned by US private equity giant Cerberus, on Monday, approving a 75,000 write-down on the debts of…
What are the consequences of bankruptcy? Stephanie McGrath looks at the effects on pharmacy owners On 18 February 2019 AJP reported that the National Health Amendment (Pharmaceutical Benefits) Bill 2019 would enable PBS medicines supply to continue when a pharmacy owner enters bankruptcy. The Bill lapsed at dissolution on 11 April 2019 and is not…
Law firm OSM Partners has appointed Andrew Croughan as new partner and head of personal insolvency, and Raymond Lambe as new partner in the corporate and commercial litigation department. Andrew Croughan brings more than 10 years experience in commercial litigation, dispute resolution and insolvency and has acted in cases before all courts including the Supreme…
THE CASE of Mr Ke, a carpenter from the eastern city of Taizhou who fell deep into debt, may one day be noted in histories of Chinas financial evolution. On May 9th a local court announced that it had arranged for Mr Kes liabilities to be written off. This was made possible by what state…
When it comes to outrageous pensions and overtime at the MTA and public entities, we find ourselves at a crossroad. Thanks to the Empire Center for Public Policys expose of a railroad worker soaking up $344,000 in overtime, the iron is suddenly hot for change. This is our chance to declare the MTA…
news, local-news, There were 21 insolvencies declared in the Dubbo region in the the first three months of 2019, according to the latest Australian Financial Security Authority (AFSA) figures. Four were business related insolvencies and 17 were non-business related or not stated. The numbers differ only slightly from those reported in the last three months…