Category Archives: Bankruptcy

Fortunes reversed for former mates as billionaire Gerry Harvey helps Nathan Tinkler emerge from bankruptcy as Troy … – Muswellbrook Chronicle

IN a sliding doors moment, Nathan Tinklers former right-hand man, Troy Palmer, has been declared bankrupt with debts of more than $21 million, just as word emerges that his former one-time billionaire boss has had his personal bankruptcy annulled. The Herald can reveal that retail giant Gerry Harvey has bailed the former mine electrician from Muswellbrook out for a…

Nick Leeson net worth: Celebrity Big Brother star and former banker is worth this much – Express.co.uk

Nick Leeson, 51, is best known as the infamous banker who brought down Barings Bank. He is one of the contestants in the Celebrity Big Brother house 2018. But what is his net worth? At his peak in the early nineties, Nick is believed to have earned bonuses of £130,000 on a salary of £50,000.…

$2.4M IN DEBT: Federal Court orders iconic pub be wound up – News Mail

A $2.4 MILLION debt has thrust the future of one of Bundaberg’s oldest hotels into uncertainty. Formerly trading as the Grand Hotel Bundaberg, Tomik Pty Ltd was ordered to be wound up by the Federal Court earlier this month after the Australian Taxation Office made an application for it to be put into liquidation in…

Fortunes reversed for former mates as billionaire Gerry Harvey helps Nathan Tinkler emerge from bankruptcy as Troy … – Newcastle Herald

IN a sliding doors moment, Nathan Tinklers former right-hand man, Troy Palmer, has been declared bankrupt with debts of more than $21 million, just as word emerges that his former one-time billionaire boss has had his personal bankruptcy annulled. The Herald can reveal that retail giant Gerry Harvey has bailed Mr Tinkler out for a second time, loaning…

How to avoid financial strife as your family grows – Kidspot

Contrary to the old saying; when it comes to financial education less will never be more. As a society, our expectations of what constitutes an acceptable standard of living for our children has risen exponentially. In fact, in the last 10 years child-rearing costs have gone up by 45 per cent, while our household incomes…

Director liability ‘should only apply when insolvent company evaded tax’ – Out-Law.com

The proposals were set out in a consultation document designed to seek views on how to tackle “those who own or manage” companies who cause the companies to engage in “tax avoidance, evasion or repeated non payment of taxes” and then use the insolvency process so that the company avoids paying the tax. In some…

Uzbek refrigerator-making plant declared bankrupt – AzerNews

17 August 2018 17:11 (UTC+04:00) 345 By  Trend Sino plant producing refrigerators in Uzbekistans Samarkand city was declared bankrupt upon the court decision, the Uzbek media reported citing the Uzbek plant. The plant with the capacity of 250,000 refrigerators per year opened in 1973. During the times of the Soviet Union, the plant produced “Pamir”, “Samarkand”,…

Serbia offers for sale assets of insolvent FAP Livnica – SeeNews

Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic. BELGRADE (Serbia), August 17 (SeeNews) – Serbia’s Bankruptcy Supervision Agency is inviting bids for the purchase of assets of insolvent iron casting company FAP Livnica, the agency said on Friday. The estimated value of the assets of FAP Livnica for sale stands 461.1 million dinars ($4.5…

Liability of a holding company for an insolvent subsidiary – Financial Director

This is a poignant question in the light of the wave of recent administrations and liquidations on the High Street. The general position is that a holding company is only liable to pay any amount not paid up on its shares in the subsidiary company. However, there are some situations where a holding company or…

Steinhoff appoints Lehman Brothers insolvency veteran to board … – Fin24

Steinhoff International [JSE:SNH] moved to appoint insolvency expert Paul Copley to its supervisory board as the troubled global retailer seeks to strengthen management and add expertise following an accounting scandal. A former partner at PwC, Copley worked as an administrator of Lehman Brothers, one of the highest-profile corporate collapses of the financial crisis of 2008.…