Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
A man who took his fight against an $80 speeding ticket all the way to the Supreme Court, and lost at
A celebrity wedding planner has sparked concern after she missed a key court date and quit her home in a
Sharvain Facades goes into voluntary administration  MSN Read the original article here
The notorious cricket spot-fixer who has become a leading player in the big-money world of boxing has been declared bankrupt.Mazhar
Destigmatise insolvency, support business continuity—Deputy Speaker  NewVision.co.ug Read the original article here
MT Educare’s Subsidiary Faces Asset Sale Amid Insolvency Proceedings  TipRanks Read the original article here
How Abengoa Group impacted the Spanish economy  EY Read the original article here
Chalmers, economists slam Coalition’s debt reduction fund  AFR Read the original article here
Welcome to Opt Out, a semi-regular column in which we help you navigate your online privacy and show you how
Despite ‘Clean Slate’ Rule, Taxmen Pursue New Claims Against Insolvent CompaniesTax officers are sending new tax notices to companies that
As residents stress over unpaid medical bills, Illinois pilot programs pledge to abolish $1 billion of medical debt Fact checked
The National Company Law Tribunal, Kolkata bench, consisting of Smt. Bidisha Banerjee (Member - Judicial) and Cmde Siddharth Mishra (Member

A man who took his fight against an $80 speeding ticket all the way to the Supreme Court, and lost at nearly every turn, racked up $34,000 in legal fees and was declared bankrupt when he couldn’t pay them.

Peter Prescott has now failed to have his bankruptcy annulled, and is liable to pay more legal fees to the New Zealand Police after another unsuccessful trip to court.

In July 2016, Prescott was caught driving 64km/h in a 50km/h zone and was sent a ticket for it. However, he tried to claim he wasn’t driving the car, nor did he own it.

When he didn’t pay the fine and the matter went to court, Prescott didn’t show up and he was fined a further $80 and $30 in court costs.

Two years later, Prescott unsuccessfully appealed the…

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A celebrity wedding planner has sparked concern after she missed a key court date and quit her home in a ritzy suburb, just weeks after she was declared bankrupt for a second time.

The NSW Supreme Court has previously found Kashaya Nerez Williams, 39, used a forged letter to inherit her dead grandfather’s home in bitter family row over his will.

The former florist was declared bankrupt and had her assets seized in the wake of the decision, as relatives tried to recover their share of the inheritance.

Last month she was declared bankrupt yet again, and this week she was due back in court to be sentenced on traffic charges for speeding and driving while suspended.

But she failed to appear, and her former neighbours at the address she gave…

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Sharvain Facades goes into voluntary administration  MSN

Read the original article here

The notorious cricket spot-fixer who has become a leading player in the big-money world of boxing has been declared bankrupt.

Mazhar Majeed, 40, who was sentenced to 32 months in prison in 2011 for his role in the corruption of a Test match between England and Pakistan at Lord’s, acts as an adviser to Chris Eubank Jr, who fights Conor Benn at Tottenham Hotspur Stadium on April 26.

A Sunday Times investigation last year revealed the extent of Majeed’s influence in boxing and his links to Boxxer, the promotional company co-founded by Ben Shalom that was awarded a four-year exclusive contract worth £36million by Sky in 2021.

The promoter paid in excess of £300,000 to Star People, a company solely owned by Majeed’s wife, for

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Destigmatise insolvency, support business continuity—Deputy Speaker  NewVision.co.ug

Read the original article here

MT Educare’s Subsidiary Faces Asset Sale Amid Insolvency Proceedings  TipRanks

Read the original article here

How Abengoa Group impacted the Spanish economy  EY

Read the original article here

Chalmers, economists slam Coalition’s debt reduction fund  AFR

Read the original article here

Welcome to Opt Out, a semi-regular column in which we help you navigate your online privacy and show you how to say no to surveillance. The last column covered how to stop tech companies spying on your phone as Trump promises mass deportations.

The DNA testing company 23andMe has filed for bankruptcy after months of concern over its financial health and its ability to keep users’ genetic information secure. In light of the uncertainty looming over the company’s future, you should do one thing to protect your privacy today: delete your 23andMe account.

If you have used the service to discover your ancestry via your DNA, the extremely sensitive information you shared with 23andMe may transfer to the company’s eventual buyer. While…

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Despite ‘Clean Slate’ Rule, Taxmen Pursue New Claims Against Insolvent Companies

Tax officers are sending new tax notices to companies that have already been taken over after going through the insolvency process. This goes against the “clean slate” rule in the Insolvency and Bankruptcy Code (IBC), which says that once a company is rescued, all its old debts and taxes should be cleared.

Even though courts have clearly said that no more old claims should be made, tax officers are still doing it. As a result, the new owners of these companies are getting stuck in legal trouble and having to go to court again, even though the law is supposed to protect them from this.

Numerous firms have suffered from new tax bills over pre-takeover…

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As residents stress over unpaid medical bills, Illinois pilot programs pledge to abolish $1 billion of medical debt

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Fact checked by Jim Lacy

Gloria Austin knew she had a problem when a red rash, a line around her stomach, appeared, as pain ramped up. The East Garfield Park resident was 62 at the time.

After searching online, Austin realized she might have shingles. Without insurance or a primary care doctor, she turned to the emergency room at Rush University Medical Center.

By the time she arrived in September 2020 and went into triage, the pain was excruciating, she recalls.

“The first thing they want to know is if you have insurance,” Austin says. “I kept telling them on repeat, ‘I am uninsured. I can’t pay for…

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The National Company Law Tribunal, Kolkata bench, consisting of Smt. Bidisha Banerjee (Member – Judicial) and Cmde Siddharth Mishra (Member – Technical), has allowed an application filed under Section 7 of the IBC seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. The bench held that the financial debt exists where money is disbursed against the consideration for time value of money. The bench also observed that once the “debt” and “default” are admitted or established, the petition must be admitted.

Background

The financial creditor (Horizon Commtrade Limited) provided a loan to the corporate debtor (Jasmine Commodities Pvt. Ltd.) in terms of the intercompany…

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