Key Takeaways In Jersey, a director can be disqualified if their conduct makes them ‘unfit to be concerned in the management of a company’. Recent guidance and case law demonstrates a tougher approach to misconduct, poor governance and failures to cooperate with regulators or the Viscount or other officeholders. Strong record-keeping, financial controls and early…
A panel set up by the insolvency regulator has suggested that the bankruptcy proceeding be restricted to only stressed projects of a real estate developer instead of the current practice of extending it to the entire realty company. Such a move, the panel reckoned, would allow solvent or unrelated realty projects of the same developer…
THE team at a popular Somerset Indian restaurant has clarified they will not be impacted after a company that previously ran the business has been issued a winding-up order. CHEF FOOD LTD, which is registered at Lopen Raj, Lopenhead, South Petherton, is currently subject to a winding-up order petition. This is a formal application which…
Major Australian construction company collapses with hundreds of jobs at risk MSN Read the original article here
Unlawful Sassa contract: After 12 years, liquidated CPS is ordered to pay back R81m News24 Read the original article here
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Pan Asia Data Gets More Time as Hong Kong Court Adjourns Winding-Up Petition Hearing TipRanks Read the original article here
A high-powered committee to look into insolvency guidelines for real estate projects has come up with 155 recommendations, including project-wise insolvency admission, procedural consolidation of land and development rights as well as mandatory operation of project-wise escrow accounts. The recommendations are aimed at improving efficiency, ensuring timely completion of projects, enhancing stakeholder confidence, and strengthening…
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A trucking business that has been in business for 40 years has fallen into voluntary administration. Australian Nighthawk Transport went into administration last month as the business struggled with low revenue, tumultuous weather, equipment repairs, staff difficulties, legal costs. The trucking company went under owing ANZ almost $7.5 million and another $1.6 million to the…