NATHAN Tinkler has always been very good at collecting enemies. The one-time billionaire’s volatility and reputation for not paying his debts has seen him fallout with countless friends and people hes worked with, even his own family. Amid the wreckage of his collapsed business empire is his only sibling Donna Dennis and former trusted lieutenant Troy Palmer, both…
Britains biggest payday lender, Wonga, is teetering on the brink of collapse following a surge of customer compensation claims in recent weeks that could cause it to call in administrators. The short term loan provider has reportedly lined up Grant Thornton the accountancy firm, to handle a potential administration of the company should its board…
Wonga, the UKs biggest payday lender, is considering insolvency following a surge in customer compensation claims in recent weeks. On Sunday, the company confirmed that it was assessing all options after a sharp rise in complaints from customers claiming they should not have been given loans. Placing the UK business into administration is understood to…
In a nod to his idol, Mr Wilson renamed several of his previous failed ventures after fictional businesses in the movie Wall Street and its sequel Money Never Sleeps just days before they were put into external administration in 2015. Poster for the hit 1987 film. Two of the collapsing companies in his Mider property…
Image copyright Getty Images Image caption There have been several high-profile company insolvencies in 2018 so far Company bosses who dissolve their firms to avoid paying off staff or meeting pension commitments will risk being hit with fines, under new government plans. Ministers want tougher insolvency laws, after recent high-profile collapses devastated workers and pension…
Directors who have dissolved companies to avoid paying staff or pensions could be fined or disqualified for the first time, the government has announced. In a package of reforms announced today, struggling companies will be given more time to explore rescue options while shareholders will be given more powers to hold boardrooms to account. Greg…
Advertising Feature Money worries: Nearly one in three Australians are feeling financially stressed, so if you are drowning in debt, the first step is to work out if bankruptcy is right for you. If you are facing severe money-troubles, in no way are you alone. In fact, according to The Australian Financial Security Authority, there…
As the Reserve Bank of Indias (RBI) deadline to resolve large stressed assets ends on Monday, as many as 60 stressed loan accounts worth over Rs 3 lakh crore stare at insolvency proceedings. This is a direct impact of the central banks circular released on February 12. Bankers are attempting to resolve the non-performing assets…
V Rishi Kumar The National Company Law Tribunal (NCLT), Hyderabad has extended the duration of the corporate insolvency resolution process period for IVRCL Ltd by an additional 90 days beyond the original 180 days. The decision follows a resolution passed in a meeting of the Committee of Creditors (CoC) of the Hyderabad-based construction and infrastructure…
German shipbuilder Nordseewerke Emden Shipyard (NES) had filed for insolvency as its deal to provide cruiseship hull blocks for Meyer Werft ends. A spokesman for the district court in Aurich confirmed the Wednesday move to Gottinger Tageblatt. NES has 80 workers. Former owners of the site had declared the yard insolvent in 2012 and 2015.…