Cross-border insolvency regime past and future – International Law Office

Introduction Recent case Court’s obiter comments Comment Introduction The United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-border Insolvency is not formally recognised in Hong Kong, unlike in Singapore which adopted it last year.(1) There are no statutory provisions empowering the Hong Kong courts to provide assistance and recognition to foreign insolvency…

Quixotic owner of BC ghost town in legal battle over Belgian investigation into allegations of corporate fraud – Windsor Star

Krishnan Suthanthiran has denied any wrongdoing, and his dogged fight to squelch the Belgian probe has been playing out in courtrooms in two Canadian provinces Krishnan Suthanthiran, President of Kitsault Resort Ltd in Vancouver, BC, October 24, 2008. Lyle Stafford for National Post Its been a few years since Krishnan Suthanthiran last made headlines. They…

9-year ban for logistics boss after submitting £1m worth of false claims – GOV.UK

Neil Avery Hughes (51), from Water Orton, Birmingham, was a director of Contact Transport Limited (Contact Transport). Incorporated in February 1980, the company traded from premises in Garrets Green and provided haulage and parcel delivery services. In 2011, Contact Transport was acquired by another company, Keelek 369 Limited, before it entered into a Company Voluntary…

West Kowloon M+ museum main contractor fired due to insolvency – Hong Kong Free Press

The main contractor of M+, the West Kowloon Cultural Districts contemporary art museum, was fired by the government-appointed management authority on Friday due to alleged insolvency. In a press statement, the West Kowloon Cultural District Authority (WKCDA) said it has terminated its contract with Hsin Chong Construction Company Limited over the troubled project. Hsin Chong was…

Company purchasers ignore voluntary ‘safety net’ for pre-pack administrations – The Times

Alex Ralph The focus on pre-packs increased after Sports Direct acquired House of Fraser but avoided taking on liabilitiesCLIVE GEE/PA The government is facing pressure to bolster the rules around pre-pack administrations after figures showed that a voluntary scheme was being shunned. Only 11 per cent of eligible cases were referred to the Pre Pack…

Cafe Brass debacle could bankrupt general manager – The Australian Financial Review

We’ve previously covered the messy demise of Cafe Brass, the swanky restaurant in Melbourne’s inner-city that failed after only a few months, after its wealthy backers including billionaire investor Alex Waislitz, real estate classifieds wizard Antony Catalano, high street jeweller Marcus Rose and KPMG wheeler-and-dealer Jon Adgemis pulled the pin on the venture, which had…