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…
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”,…
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…
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 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.…
The Supreme Court ruled that creditors can proceed against personal guarantors of a corporate debtor even while insolvency proceedings are on. The top court said the moratorium envisaged under Section 14 of the Insolvency and Bankruptcy Code will not apply to the personal guarantors. The provision places a moratorium on any suits or proceedings against…
Katie Price insists her house ‘smells INCREDIBLE’ after she’s accused of ‘failing to pick up dog excrement’ at her £2 million mansion By Olivia Wheeler For Mailonline Published: 18:13 AEST, 16 August 2018 | Updated: 18:23 AEST, 16 August 2018 e-mail View comments Katie Price has revealed that her £2 million mansion ‘smells incredible’ after…
Get the latest viral stories daily! Like us: Landing a job isnt the only challenge for many Malaysian youths, as a recent report showed that we also have trouble keeping with our finances. Oh dear! According to The Star, about 64,632 Malaysian youths between the age of 18 and 44 years old were reportedly declared…
Reports by MARTIN CARVALHO, HEMANANTHANI SIVANANDAM, RAHIMY RAHIM and LOSHANA K SHAGAR MALAYSIANS numbering 64,632 have been declared bankrupt in the last five years, the House was told. Minister in the Prime Ministers Department Datuk Liew Vui Keong said in a written reply that the highest bankruptcy cases among the individuals, aged between 18 and…
Lingard, who was managing director of AQ/AQ appointed liquidators on 4 July and filed a notice to creditors on 25 July to allow the re-use of a prohibited name. Insolvency practitioner AABRS was asked to handle the liquidation following a special resolution passed by the company to voluntarily wind up the business. A statement of affairs filed…