Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
Controversial property developer Salim Mehajer has launched a Federal Court bid to overturn his bankruptcy while he awaits a court ruling on whether he will be jailed for electoral fraud. At an urgent hearing on Monday, the former deputy mayor of the now-defunct Auburn Council is expected to ask Justice Michael Lee to annul the…
Today’s City Moves cover the insolvency sector, insurance and legal eagles. Take a look at these movers and shakers: R3 Stuart Frith, a Partner at Stephenson Harwood LLP, is taking over as the new president of R3, the insolvency and restructuring trade body. His year-long term starts today. With over 30 years experience in the…
Image Source: baltictimes x DOWNLOAD British Steel consortium to acquire KVV Liepajas Metalurgs in Latvia – Report British Steel consortium to acquire KVV Liepajas Metalurgs in Latvia – Report The Baltic Times reported that British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to…
ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday declared invitation of the second round of bids for Essar Steel as invalid, brightening the chances for these two companies…
ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday declared invitation of the second round of bids for Essar Steel as invalid, brightening the chances for these two companies…
The UK’s corporate governance regime has been stress-tested in the past decade and in many respects it has done well. However, in response to certain high profile corporate collapses which have caused heavy losses for creditors, in particular individuals and suppliers with little opportunity to protect themselves against losses, and in the spirit of continual…
The British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to a letter written by British Steel at the disposal of LETA. A consortium that includes British companies British Steel and its owner, Greybull Capital, plus Estonian company Baltic Metal Holding in a letter dated…
When Andrew Purcell is asked how serious a breach of directors’ duties it would be for a director to seek a secret, personal benefit in return for supporting a deal in the interest of shareholders, he answers with a vigorous nod. “That would be against directors’ duties, yes,” he agrees. That conduct is precisely…
Sweeping reforms to insolvency laws and regulations are set to benefit distressed companies that are attempting to negotiate a sale and avert going into administration. Local lawyers are of the view that draft regulations released this week by Minister for Revenue and Financial Services Kelly O’Dwyer are largely positive for lenders, struggling companies and the restructuring industry. “These…