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…
Published 27 May 2019 A High Court test case which would have significantly clarified the law around debt-for-equity personal insolvency arrangements has been struck out on a technicality. The case was brought by Start Mortgages against a personal insolvency arrangement approved in Trim Circuit Court, which saw a mans mortgage written down from almost…
Government officials are hopeful a saviour can be found for British Steel after speaking to 80 potential bidders, saying multiple parties have expressed an interest in taking on all or part of the business. The Insolvency Service has been seeking buyers since the company collapsed last week, a financial failure that threatens the future of…
A court in Rotterdam declared Rerum Technics (formerly Entropia Digital bv) bankrupt on 23 May, Connection. KPN filed for the bankruptcy, after a cooperation failed and KPN claimed that Rerum Technics had payment arrears. According to the ruling, the court agreed that Rerum Technics did not meet its payment obligations. The company said it will…
A liquidator has been put into WA Aboriginal resources contractor Indigenous Construction Resource Group. Set up in 2010 to create employment opportunities for regional Aboriginal communities, ICRG has undertaken work for companies including Fortescue Metals Group, Buru Energy and Roy Hill Holdings. At its peak in 2016, it had more than 150 workers on its…
Published 27 May 2019 A High Court test case which would have significantly clarified the law around debt-for-equity personal insolvency arrangements has been struck out on a technicality. The case was brought by Start Mortgages against a personal insolvency arrangement approved in Trim Circuit Court, which saw a mans mortgage written down from almost…
Attempts to find a buyer for British Steel could be abandoned by midsummer despite reassurances to trade unions that the government would prop up the business indefinitely, according to Whitehall sources. More than 4,000 jobs are hanging in the balance after the company entered into insolvency on Wednesday, three years after private equity group Greybull…
The State Bank of India has dragged energy firm Bhatia Coke and Energy Limited into insolvency process for non-payment of dues of about 125.9 crore to a consortium of banks. In September 2009, the company availed itself credit from State Bank of India and the erstwhile State Bank of Mysore. Further, it availed itself a…