A former director of migration company Clinica Internationale Pty Ltd (Clinica), Radovan Montague Laski (aka Rod or Rodney Laski), has been declared bankrupt by the Federal Circuit Court after an ACCC application for a sequestration order.
The Court made the order following Mr Laskis failure to pay more than $380,000 in legal costs after action by the ACCC led to a Federal Court judgment against him.
In the earlier ACCC proceedings, Clinica was found to have engaged in unconscionable conduct and made misleading and deceptive representations in a scheme that falsely promised permanent residency to migrants. Mr Laski was held to have been knowingly concerned in this conduct.
We are committed to holding individuals to account for faili…
Read the full article at: https://www.miragenews.com/court-declares-former-migration-company-635135/
By Felix Onuah and Chijioke Ohuocha
ABUJA (Reuters) -Nigeria has introduced custody rules for its 4 trillion naira ($9.7 billion) fund management industry to protect investors and further develop its capital markets, the Securities and Exchange Commission (SEC) said on Sunday.
Before the rules, investment managers warehoused securities and cash, which meant that investors could lose in the event of a manager being declared bankrupt or insolvent.
All client assets managed under discretionary and non-discretionary mandates are to be held under independent custodial agreements and custodial banks, SEC director general Lamido Yuguda told Reuters
Yuguda said a significant amount of domestic investors exited the capital market after a 2008 cr…
Read the full article at: https://kfgo.com/2021/09/19/nigeria-brings-in-custody-rules-to-guard-9-7-billion-funds-industry/
By Felix Onuah and Chijioke Ohuocha
ABUJA (Reuters) -Nigeria has introduced custody rules for its 4 trillion naira ($9.7 billion) fund management industry to protect investors and further develop its capital markets, the Securities and Exchange Commission (SEC) said on Sunday.
Before the rules, investment managers warehoused securities and cash, which meant that investors could lose in the event of a manager being declared bankrupt or insolvent.
“All client assets managed under discretionary and non-discretionary mandates are to be held under independent custodial agreements and custodial banks,” SEC director general Lamido Yuguda told Reuters
Yuguda said a significant amount of domestic investors exited the capital market after a 2008…
Read the full article at: https://www.investing.com/news/economy/nigeria-brings-in-custody-rule-for-97-billion-funds-industry-2620131
Matt Doogue had hit rock bottom. He didnt want to live anymore.
But his life was saved when he made one simple discovery.
Watch Matts incredible story in the video player below
Matt Doogue went viral when he shared a deeply personal tweet.
His honesty resonated with people, right across the globe.
Matts story is one of a young man who conquered his personal demons, and learned lessons that he hopes will help many others like him.
Matt, 35, was born in Salford – a working-class area in Manchester, UK.
He says its considered one of the roughest places to grow up – especially for young men.
You had to be a type of person to fit in with the peer group and the society that was surrounded you, Matt told 7NEWS.com.au.
I was hiding my true se…
Read the full article at: https://7news.com.au/lifestyle/real-life/insects-saved-me-from-suicide-an-incredible-story-of-survival-and-going-viral-c-3988787
Trouble with debt and credit and a lack of financial know-how can be a significant obstacle for people working to escape poverty or dangerous living situations.Here are several resources the United Way of the Ozarks has identified to get help or to volunteer to teach others to better understand their finances.
Access the Allstate Foundation Moving Ahead Curriculum
This educational resource is designed to help domestic violence survivors achieve financial independence and rebuild their lives. The curriculum covers important financial topics including budgeting, managing debt and improving credit. It has been proven to help survivors move from short-term safety to long-term security.
…
Read the full article at: https://www.news-leader.com/story/news/local/ozarks/2021/09/18/financial-literacy-how-get-help-debt-management-budgeting-credit-volunteer-springfield-ozarks/8280840002/
With our celebrities, we sadly shout loudest for the untouchables. Throughout time, those most inaccessible to Joe public have become the most revered due, in part, to their ability to retain their air of mystery. You can magnify that reverence when one of these untouchables dies at desperately young age. Elvis was one of the first and Michael Jackson, despite the public proclamations of loving every one of youse, preferred to keep himself to himself.
Lennon died young and is worshipped in death, as are Steve McQueen and Freddie and Kurt and Amy and, well, the list goes on
But some choose to opt out of the fame game and change careers dramatically and reinvent themselves, either through the career giving up the ghost, boredom with the …
Read the full article at: https://www.eppingforestguardian.co.uk/news/19587953.celebrities-went-second-careers/
September 18, 2021
NEW YORKMayor Bill de Blasio today announced New York Citys $65 million Medallion Relief Program (MRP), which could result in $500 million of debt forgiveness for thousands of drivers, has delivered nearly $700,000 in relief for the first three owners to fully restructure their loans. The Taxi and Limousine Commission (TLC) is poised to close deals with 13 more owners by the end of September, which would result in as much as $2.6 million in relief. Nearly 800 medallion owners are in stages of renegotiations, a significant portion of which will be completed by the end of 2021.
Medallion owners have worked tirelessly to keep New York City moving, and they deserve economic justice to make manageable payments and retire w…
Read the full article at: https://www1.nyc.gov/office-of-the-mayor/news/629-21/first-taxi-medallion-owners-receive-700-000-debt-relief-500-million-total-relief
The Telangana High Court had passed an interim direction suspending the order of National Company Law Tribunals Special Bench of Hyderabad which rejected the Resolution Plan presented by M/s CFM Asset Reconstruction Private Limited.
The Resolution Plan was presented in a matter involving Viceroy Hotels Limited and Union Hotels Private Limited. A Bench of Acting Chief Justice M.S. Ramachandra Rao and Justice T. Vinod Kumar, which passed the interim direction, observed that it appears that the parties have not been taken into confidence by the NCLT Bench while rejecting the RP.
The Bench said, It is settled principle that justice should not only be done but it must be seen to be done. Prima facie it did not appear so in the present case a…
Read the full article at: https://www.thehindu.com/news/cities/Hyderabad/hc-suspends-nclt-hyderabad-order/article36540577.ece
1. Data Sources
1.1 Data sources for insolvencies
Company Insolvency data for England & Wales, Scotland and Northern Ireland are sourced from Companies House, except for compulsory liquidation data for England & Wales and Northern Ireland.
Compulsory liquidation data for England & Wales are sourced from the Insolvency Service case information system (ISCIS). Compulsory liquidation data for Northern Ireland are sourced from the Department for the Economy, Northern Ireland.
Individual insolvency data for England & Wales were sourced from ISCIS; individual insolvency data for Northern Ireland were sourced from the Department for the Economy.
1.2 Data sources for non-insolvency measures
Company moratorium and restructuring plan data for Eng…
Read the full article at: https://www.gov.uk/government/statistics/monthly-insolvency-statistics-august-2021/methodology-and-quality-document-monthly-insolvency-statistics-august-2021
Lee John Palmer (41), a plumber from Knapton, was declared bankrupt on 28 January 2021 before the Official Receiver was appointed as Trustee.
While reviewing Lee Palmers assets, the Official Receiver uncovered that Lee Palmer had bought a van on hire purchase but sold the vehicle without the permission of the hire purchase finance company.
The hire purchase meant the van wasnt his property to sell and the finance company suffered a loss of over 16,000.
The Official Receiver sought to extend Lee Palmers bankruptcy restrictions further because of the risk he posed to creditors.
Lee Palmers bankruptcy undertaking extends his restrictions for 6 years. This means he is limited to what credit he can access and cannot act as a company director…
Read the full article at: https://www.gov.uk/government/news/plumbers-bankruptcy-restrictions-extended-for-abusing-finance
Released
17 September 2021
Next release
15 October 2021
Media enquiries
Steven Fifer
+44 (0)30 3003 1568
Statistical enquiries
Stacey Witchell (author)
Kate Palmer (responsible statistician)
1. Main Messages for England and Wales
The number of registered company insolvencies in August 2021 was 1,348:
- 71% higher than the number registered in the same month in the previous year (788 in August 2020), and
- similar to the number registered two years previously (pre-pandemic; 1,366 in August 2019).
In August 2021 there were 1,256 Creditors Voluntary Liquidations (CVLs), which is the highest level seen in the series since January 2019. The number of registered company insolvencies was similar to pre-pandemic lev…
Read the full article at: https://www.gov.uk/government/statistics/monthly-insolvency-statistics-august-2021/commentary-monthly-insolvency-statistics-august-2021