Delay in payment of debts was yesterday suggested to help people who are indebted to banks and non-banks and are heavily affected by the devastating floodings that hit 12 southern provinces currently. The suggestion came from the National Credit Bureau amid growing concern that many bank and non-bank clients could default payments and could be…
Industrial, mining and resources manufacturing company Ozcon Industries has temporarily closed its business after been placed in voluntary liquidation last week. The Dalby-based pipe and bore casing supplier announced at 10.30 am on Thursday it was shut for business, according to a recorded message on Ozcons head office phone line. It will mean the loss…
Clive Palmer claims council workers have illegally culled his deer. Picture: Kym Smith CLIVE Palmer has threatened a return to politics in a bizarre series of social media posts alleging council workers illegally killed his deer and sold the meat to local restaurants. In a Facebook post on Saturday, the former Palmer United Party leader…
UPDATE 5PM: BY the end of the week, administrators expect to have a firmer grasp on the assets, jobs and debts tied up in the CQ Leagues Club. Worrells Solvency and Forensic Accountants were appointed administrators of the troubled club yesterday and issued a statement before noon. One of the administrators, Paul Nogueira, spoke with…
A FORMER employee of a bakery chain which has closed its Westbury branch claims workers have not been paid wages from the past five weeks after the company was placed into liquidation. Bristol-based Parsons Bakery was set to take over nine of the 11 Bath Bakery branches on Friday but the deal fell through after…
Kolkata, Jan 13: The insolvency and bankruptcy code is aimed at creating alertness and more vigilant debtors and creditors. It does not, however, intend to address the issue of corporate fraud or create a fear in promoters, MS Sahoo, Chairperson, Insolvency and Bankruptcy Board of India, said. Under the new bankruptcy code which received the…
A FORMER employee of a bakery chain which has closed its Westbury branch claims workers have not been paid wages from the past five weeks after the company was placed into liquidation. Bristol-based Parsons Bakery was set to take over nine of the 11 Bath Bakery branches on Friday but the deal fell through after…
Kolkata, Jan 12: Insolvency and Bankruptcy Board of India today said the new code is not meant to address any fraud on the part of company promoters but allows creditors and other stakeholders to go for health check of the corporate at the first available opportunity. The code is not going to address fraud and…
Wagga punter Ron Lee A Wagga punter has been embroiled in a gambling scandal that saw $111,000 traded on his online account without his knowledge. Removalist Ron Lee has accused a top William Hill executive of turning a blind eye to scammers, who gained access to his dormant account and made 185 bets. After raising…
More bumper retail results today with M&S reporting an increase in clothing and homeware sales over Christmas for the first time in two years. Surpassing expectations, sales in the division rose by 2.3 per cent. John Lewis also reported results this morning, revealing that Christmas sales increased by 2.7 per cent. Meanwhile, a demand for…