KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak is not bankrupt despite a court ruling dismissing his application for a stay on a summary judgment that requires him to pay RM1.69bil in tax arrears to the Inland Revenue Board (LHDN).
Lawyer Mohamed Haniff Khatri Abdulla said there was a public misconception that Najib was a bankrupt because of the bankruptcy notice that was issued to him on Feb 4.
According to the lawyer, there are phases to a bankruptcy process that a person must go through before being declared bankrupt.
Until this declaration is made by the court, Najib is still the rightful Pekan MP, he added.
The disqualification of an MP is governed by Article 48(1)(b) of the Fe…
Read the full article at: https://www.thestar.com.my/news/nation/2021/06/15/najib-still-an-mp-not-a-bankrupt-despite-court-ruling-says-lawyer
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–BBX Capital, Inc. (OTCQX: BBXIA) (PINK: BBXIB) (BBX Capital or the Company) announced today that, on June 11, 2021, the United States Bankruptcy Court for the Southern District of Florida (the Bankruptcy Court) announced its intention to enter an order (the Confirmation Order) confirming the plan of reorganization filed by ITSUGAR LLC and its wholly owned subsidiaries (collectively, ITSUGAR) as modified by the Confirmation Order (the Plan). As previously announced, on September 22, 2020, ITSUGAR filed petitions for voluntary relief under Chapter 11 of Title 11 of the United States Bankruptcy Code (Chapter 11) in the Bankruptcy Court.
ITSUGAR expects that the Confirmation Order will be entered this…
Read the full article at: https://www.businesswire.com/news/home/20210614005798/en/BBX-Capital-Announces-Confirmation-of-IT’SUGAR’s-Plan-of-Reorganization
Administrators appointed to manage the affairs of live exporter North Australian Cattle Co and its sister company, Southern Australian Cattle Co have called for expressions of interest from investors interested in buying the businesses.
Administrators Melissa Lau and Jimmy Trpcevski from Jirsh Sutherland are seeking urgent expressions of interest from parties interested in acquiring the business operations and assets either entire or in part of NACC and/or SACC.
The assets include live export and boxed meat export, slaughter and livestock export licenses, and intellectual property, an administrators statement said.
Interested parties will be required to sign a confidentiality agreement and due diligence prior to submission of indicati…
Read the full article at: https://www.beefcentral.com/live-export/administrators-seek-buyers-for-live-exporters-nacc-and-sacc/
HOT SPRINGS — The old Social Security Administration Office here needs to be preserved, U.S. Sen. John Boozman, R-Rogers, said after a recent tour of the vacant building.
The two-term Republican senator was joined on the tour by Garland County Judge Darryl Mahoney, County Attorney John Howard and former County Judge Larry Williams, who serves on the board of directors for the Area Agency on Aging of West Central Arkansas.
The property at 225 Hazel St. reverted to the federal government in December.
The complaint the U.S. Department of Health and Human Services filed in the U.S. District Court for the Western District of Arkansas in September against Malvern National Bank and Quapaw House Inc. said the property was mortgaged without HHS…
Read the full article at: https://www.arkansasonline.com/news/2021/jun/14/senator-urges-preservingold-social-security-office/
Good morning, here’s what you need to know today.
Key Highlights
Najib closer to bankruptcy
Former prime minister Najib Abdul Razak failed to stay a court ruling for him to pay RM1.69 billion in taxes to the Inland Revenue Board (IRB).
This clears the way for the IRB to move forward with the bankruptcy proceeding against him, which was first initiated in April.
A defiant Najib vowed that bankruptcy wont paralyse him from voicing out for the people.
If declared bankrupt, Najib wont be able to contest in the next general election.
He also has ongoing graft cases relating to 1MDB and SRC International Sdn Bhd.
HIGHLIGHTS
Agong wraps up meetings
The Yang di-Pertuan Agong wrapped up the last of his meetings with the countrys…
Read the full article at: https://www.malaysiakini.com/newsletter/578960
14 June 2021
Virgin Australia has announced the appointment of Bain & Company senior partner Dave Emerson as its new Chief Commercial Officer, with Emerson having been aiding the carrier since last year.
Dave Emerson is the head of Bains global airline practice and has been leading many of Virgins business transformation initiatives since last year, when the Covid-hit airline was snapped up by private equity giant Bain Capital for $3.5 billion following a periodof voluntary administration (withDeloitte appointed as administrator).
Bain Capital subsequently tapped formerBain & Company partner Jayne Hrdlicka as CEO, with Hrdlicka in turnbringing in her former employer on the airlines substantial turnaround mi…
Read the full article at: https://www.consultancy.com.au/news/3512/bain-partner-dave-emerson-joins-executive-team-of-virgin
With help from Gavin Bade
Editors Note: Weekly Agriculture is a weekly version of POLITICO Pros daily Agriculture policy newsletter, Morning Agriculture. POLITICO Pro is a policy intelligence platform that combines the news you need with tools you can use to take action on the days biggest stories. Act on the news with POLITICO Pro.
Quick Fix
The Department of Agriculture has until Friday to respond to a courts temporary restraining order on its historic debt forgiveness to farmers of color, though it already pledged to fight the case vigorously.
Various U.S. agriculture products and equipment exports to Europe that have been hit with retaliatory tariffs will be a part of dis…
Read the full article at: https://www.politico.com/newsletters/weekly-agriculture/2021/06/14/debt-relief-court-battle-heats-up-795923
A day before the start of the voting process, the two contenders NBCC and Suraksha held separate webinars on Sunday with hundreds of homebuyers to explain their resolution plans and address doubts of flat owners.
In the webinar, NBCC expressed confidence that it will get approval from Yamuna Expressway Industrial Development Authority (YEIDA) to hive off Yamuna Expressway to a Special Purpose Vehicle (SPV) and the transfer of 90 per cent stake to bankers.
NBCC CMD P K Gupta said the company has improved its plan compared with its 2019 bid, by making provisions of 100 acre land for delayed penalty.
Gupta said there is no question of failure in case of the NBCC, which he said has the support from the government.
“Our plan is very concret…
Read the full article at: https://www.livemint.com/news/nbcc-says-its-bid-to-buy-jaypee-fully-backed-by-govt-assures-timely-possessions-11623664181217.html
Msinfosys Support Ltd and MS Global Support Ltd were wound up in the public interest in the High Court on 9 March before Judge Barton. The Official Receiver has been appointed liquidator of the companies.
The court heard that the two IT companies generated unsolicited pop-up error messages and when people phoned-up to check what was wrong, some were led to believe there was a fault with their computers.
The victims were led to believe they were dealing with well-known software companies and some paid money to fix their computers. But neither Msinfosys Support or MS Global Support were authorised to act on behalf of the larger software companies.
The Insolvency Service started confidential investigations into Msinfosys Support and MS Glo…
Read the full article at: https://www.gov.uk/government/news/it-companies-wound-up-in-pop-up-software-scams
Macaus gambling market could face a radical restructuring as local governments approach approval for the use of Chinas digital yuan in casinos.
On Tuesday, Macaus Chief Executive of Macau, Ho Iat-seng, told the Legislative Assembly Digital currency.. Mr Ho said Chinas special administrative region government wants to strengthen its ability to thwart other criminal factors, including money launderers, tax evaders, and terrorists.
Macaus gambling sector remains a major driver of the regional economy Bloomberg A government representative reported that he approached several Macau casino operators on the possibility of allowing gamblers to purchase casino chips using digital sources.
China has begun Test that digital source project In Shenz…
Read the full article at: https://illinoisnewstoday.com/macau-is-approaching-the-use-of-digital-sources-in-casinos/248800/