By Shamsiya Hussainpoor

The winding-up case involving the Lysterfield Islamic Society of Melbourne Eastern Region Inc. has recently come to a close, with the court making a significant decision that highlights the challenges not-for-profit organisations face when handling financial insolvency and legal obligations.

This case sheds light on the interplay between corporate governance, financial solvency, and the complex process of winding up a company under the Corporations Act.

The ruling was issued in the Supreme Court of Victoria on 28 February 2025.

The defendant (Islamic Society of…

By Shamsiya Hussainpoor

The winding-up case involving the Lysterfield Islamic Society of Melbourne Eastern Region Inc. has recently come to a close, with the court making a significant decision that highlights the challenges not-for-profit organisations face when handling financial insolvency and legal obligations.

This case sheds light on the interplay between corporate governance, financial solvency, and the complex process of winding up a company under the Corporations Act.

The ruling was issued in the Supreme Court of Victoria on 28 February 2025.

The defendant (Islamic Society of…

The collapse of British Home Stores and the subsequent High
Court action against its directors serves as a stark reminder of
the potential risks for company officers deemed to have breached
their company duties.

The former high street chain went out of business in 2016 after
running out of money.

Two former directors defending the subsequent Court action were
held to be jointly and severely personally liable and ordered to
pay £110 million to creditors.

One director was held to be innocent of dishonesty with the
Court finding that he was “out of his depth” and unable
to prevent detrimental decisions. However, the Court made it clear
that it would not be able to exercise leniency as this could
encourage others to make…

There’s no question that using a credit card to finance your purchases can be a convenient route to take. After all, all you have to do is swipe your card if you want to stretch out your payments and earn rewards while doing so. But while using a credit card may be a simple way to pay, it’s also one of the least affordable financing options to use, especially if you’re not paying off your balance in full each month. Doing that isn’t a feasible option for every cardholder, though — especially in today’s tough economic…

Este artículo estará disponible en español en El Tiempo Latino.

As President Donald Trump has sought to secure rights to Ukraine’s minerals as compensation for U.S. aid to fight the Russian invasion, he has repeatedly overstated the amount of aid provided by the U.S. compared with Europe and exaggerated the extent to which European assistance – unlike U.S. aid — is in the form of guaranteed loans.

“Europe has given $100 billion. The United States has given $350 billion,” Trump said at the Conservative Political Action Conference on Feb. 22. “But here’s worse — Europe gave it in the form of a loan, they get their money back. We gave it in the form of nothing, so I want them to give us something for all of…

The National Assembly has approved the 2025 Medium-Term Debt Management Strategy after delaying it for two weeks due to delays in reconstituting the Budget and Appropriations Committee.

The delay came as Members of Parliament sought to ensure thorough scrutiny of the Debt Management Strategy, which plays a crucial role in shaping the country’s fiscal policy.

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