Stacey Steele* The Singapore Government introduced temporary measures to relieve officers from new wrongful trading provisions as part of its response to COVID-19 in April 2020. The provisions establishing liability for wrongful trading are set out in the Insolvency, Restructuring and Dissolution Act 2018 (Singapore) (the “IRDA”) – which is yet to become effective. Singapore’s…
Mathew Gashi Maddocks Read the original article here
Real world: ‘Jim, we’re in bad nick’ as insolvencies rise The Australian Read the original article here
In short: More small businesses are choosing to close because of falling profits during the cost-of-living crisis but their numbers aren’t included in insolvency figures What’s next? The federal government and Reserve Bank have been asked to consider small operators as they continue to fight inflation Jessica Bailey has a strong record of conquering challenges in the…
The National Company Law Tribunal (NCLT), has ordered the liquidation of M/s Tulip Hotels Private Limited under the Insolvency and Bankruptcy Code (IBC), 2016. The decision comes after the failure of the Corporate Insolvency Resolution Process (CIRP) to yield a resolution plan within the prescribed timeline. The CIRP for Tulip Hotels began on May 16,…
Saturday, 18 January 2025, 7:41 pmArticle: RNZ Lucy Xia A liquidator’s initial report into an insolvent Auckland-based labour hire company – Prolink NZ – has estimated that the company owes about $4.01 million to creditors. The company remains the centre of a major investigation by Immigration New Zealand (INZ) that commenced as early as September…
Dozens of Aussies, including the family of a terminally ill girl, are thousands of dollars out of pocket after a popular spa company allegedly failed to deliver their orders. Spas Direct, which has operated under several names including Sunseal Garden Spas, entered liquidation on June 3, 2024 according to ASIC data. Several customers have levelled…
Article – RNZ The company remains at the centre of a major investigation by Immigration New Zealand that commenced as early as September 2023.Lucy Xia A liquidator’s initial report into an insolvent Auckland-based labour hire company – Prolink NZ – has estimated that the company owes about $4.01 million to creditors. The company remains the…
SYDNEY – Australia’s biggest listed casino operator, Star Entertainment Group, once had it all. Its gaming licences stretched out for centuries. The domestic market was home to the planet’s most prolific gamblers. The company’s harbourside resort in Sydney drew a constant flow of high rollers from China. Now Star is bleeding cash, desperate for funding…
Prolink NZ is a labour hire company based on Auckland’s Dominion Road. Photo: RNZ / Lucy Xia A liquidator’s initial report into an insolvent Auckland-based labour hire company – Prolink NZ – has estimated that the company owes about $4.01 million to creditors. The company remains the centre of a major investigation by Immigration New…