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…
Katie Price’s beloved luminous pink horsebox has popped up for sale on EBay, as she attempts to take control of her ailing finances. Last week the ex glamour model, once worth a reported £45million, was granted 12 weeks to come up with a viable payment plan in order to avoid being declared bankrupt by the…
http://maltawinds.com/2018/08/15/insolvency-register/ The Courts of Justice, in partnership with the Registrar of Companies, succeeded in acquiring an EU grant to develop an integrated National Insolvency Register that will in future be interconnected to the European e-Justice Portal. The project was co-funded by the Justice Programme (2014-2020) of the European Union. MITA was appointed by the courts…
Port Macquarie recorded the highest number of personal bankruptcies in the state during the 2018 financial year, analysis shows. Some 82 people in Port Macquarie declared bankruptcy during that time. The figures also ranked Port Macquarie sixth in the top 10 Australian locations by volume for bankruptcy. Data registry and analytics business illion combined official bankruptcy data with…