Amanda Young, of Lewisham, NSW, a former registered liquidator, has been charged with three counts of using her position dishonestly to gain an advantage under section 184(2) of the Corporations Act 2001 and one count of dishonestly obtaining a financial advantage by deception under section 192E(1)(b) of the Crimes Act 1900 (NSW) following an ASIC investigation.
ASIC alleges that between 10 December 2017 and 5 December 2018, Ms Young, while a liquidator of Admark Property Group Pty Limited, Roller Poster Company Pty Limited and Mamak Pty Limited, caused the transfer of a total of $73,140 from the liquidation bank accounts for those companies to bank accounts that she controlled and then used the funds for her own purposes.
ASIC also…
Read the full article at: https://www.miragenews.com/former-sydney-liquidator-charged-with-dishonesty-offences/
Methodology
The Global Elite Thought Leaders are those individuals who received the highest number of nominations from peers, corporate counsel and other market sources this year. Our research has identified them as truly outstanding practitioners and the very best in their field.
Whos Who Legal does not list firms, only individual experts. The leading firms are those in each region whose listed practitioners received the most total nominations in our research.
Global Elite Thought Leaders
- Lisa Donahue – AlixPartners, New York
- Bobby Kofman – KSV Advisory, Toronto
- Doug McIntosh – Alvarez & Marsal Disputes and Investigations, Toronto
- Greg Prince – PwC, Toronto
Leading Firms
FTI Consulting
Greg Watson offers over 25 years of experie…
Read the full article at: https://whoswholegal.com/analysis/restructuring–insolvency-advisers-2020—legal-marketplace-analysis
“ABSOLUTELY gutting” is how a director of the Cooloola Waters Retirement Resort labelled the decision to push the business into liquidation, despite it still running in the black.
Rodney Lohse, who ran Cooloola Retirement Villages with his mother Lorraine Gay Lohse, said the village had not only been a Tin Can Bay fixture for 30 years but was on financially stable footing.
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“We’re not in the red, there was no loss, there’s no debt owing,” Mr Lohse said.
Cooloola Waters Retirement Resort was running in the black when it was liquidated.
“I’d say we’re one of the most solvent villages in the state.”
What tipped it over were …
Read the full article at: https://www.qt.com.au/news/absolutely-gutting-bay-business-liquidation-a-toug/4057059/
TM Lewin goes into voluntary administration with fears menswear company could close all Melbourne stores in the coronavirus pandemic
- Australian menswear company TM Lewin entered into voluntary administration
- The formal wear brand has five stores across Australia and a team of 40 staff
- TM Lewin’s parent company in the UK recently closed all of its stores indefinitely
Australian menswear company TM Lewin has entered into voluntary administration.
The brand which has become the latest victim of the coronavirus pandemic could now close all its stores across Melbourne, Sydney and Brisbane le…
Read the full article at: https://www.dailymail.co.uk/news/article-8520447/TM-Lewin-goes-voluntary-administration.html
Westpac has ended a near six-month job search to replace its chief financial officer by appointing KPMG partner Michael Rowland to the top role.
Mr Rowland will take up the position later this year, closing a recruitment drive sparked by Westpacs 2019 AUSTRAC scandal that thrust then CFO Peter King to take helm of the countrys second largest bank.
Mr King was elevated to chief executive after Brian Hartzers abrupt resignation from the banking group following revelations Westpac had committed 23 million alleged breaches of financial crimes law.
Westpac CEO Peter King says the appointment of Michael Rowland as CFO will make Westpac a simpler and stronger bank. Picture: Nikki Short
The financial crimes watchdog flag…
Read the full article at: https://www.adelaidenow.com.au/business/companies/westpac-appoints-michael-rowland-as-chief-financial-officer/news-story/71b7d3d9b31c1eabe3ee90b3285adbee
I owe Dh25,000 on a personal loan and am now stuck in India because of the Covid-19 flight restrictions. I borrowed the money for some business affairs in India and have only paid two of the loan’s monthly Dh765 instalments so far.
I went on annual leave to India on March 2 to see my family with the intention of returning to the UAE on March 31. However, the flight restrictions then prevented my return.
At the start of April, my employer stopped paying my salary due to the pandemic and there is no indication as to when my income will return.
Every personal finance customer at my bank received a one-month deferment for April, so I then applied for a further three-month deferment on the loan with a letter from my employer explaining I wa…
Read the full article at: https://www.thenational.ae/business/money/the-debt-panel-i-m-stuck-overseas-and-my-bank-ignored-my-covid-19-debt-relief-request-1.1048900
Equestrian Australia will live to ride another day, as the embattled body narrowly avoided going into liquidation on Tuesday after its creditors voted to support administrator KordaMenthas proposal to reform the sport.
They agreed the administrators proposal, endorsed by Sport Australia, the Australian Olympic Committee and the international equestrian body, was the organisations best shot at having funding reinstated after Sport Australia withdrew it last month due to protracted governance issues.
The move comes after the five state branches of NSW, Victoria, Tasmania, South Australia and Western Australia revolted against the bodys receivership and offered their …
Read the full article at: https://www.theaustralian.com.au/sport/liquidation-of-equestrian-australia-avoided-as-creditors-approve-reform/news-story/337523e786c1b865c5f425e13e82911f
Holiday company goes BUST leaving desperate holidaymakers $50,000 out of pocket as the coronavirus pandemic continues to battle the travel industry
- Viaggio Italia Travel in Queensland expected a popular year for holidaymakers
- Due to coronavirus and travel bans, the company has fallen into liquidation
- The company now owes travellers a massive $50,000 following deposits
- Their website, Facebook page and phone have all been disconnected
A popular travel company has left holidaymakers $50,000 out of pocket after it went in to liquidation.
Viaggio Italia Travel in Queensland was expecting a popul…
Read the full article at: https://www.dailymail.co.uk/news/article-8520245/Viaggio-Italia-Travel-Queensland-went-liquidation-owing-travellers-50-000.html
news, local-news, Goulburn, Tarago, Heron Resources, Woodlawn Mine, shutdown, Orion Finance, insolvency, Tim Dobson
The company operating Woodlawn Mine is negotiating with financiers in an attempt to bat off insolvency. Heron Resources CEO Tim Dobson says the company is not trading insolvent and that scenario is a “worst case.” The company suspended operations in March and made 90 direct employees redundant. At the time, Mr Dobson cited coronavirus travel and other restrictions and a metal market downturn as key factors. The mine relied on a proportion of interstate workers. READ MORE: Heron Resources forces redundancy at Tarago’s Woodlawn Mine Heron Resources’ Woodlawn Mine raises more capital In May, Heron also terminated the contract…
Read the full article at: https://www.goulburnpost.com.au/story/6832559/woodlawn-mine-talks-aim-to-ward-off-insolvency/
(Bangkok) Debt relief measures by micro-loan providers in Cambodia are failing to alleviate the serious financial burdens on indebted families affected by the Covid-19 pandemic, Human Rights Watch said today. Indebted families risk having to sell land and housing they depend on to survive.
The Cambodian government and the National Bank of Cambodia should urgently suspend debt collection and interest accruals for micro-loan borrowers who are no longer able to meet their debt payments due to the Covid-19 pandemic. The governments response has been insufficient to protect borrowers and violates their rights to an adequate standard of living, notably access to adequate housing. The micro-loan providers are likewise failing in their human r…
Read the full article at: https://www.hrw.org/news/2020/07/14/cambodia-micro-loan-borrowers-face-covid-19-crisis
TRAVELLERS have been left more than $50,000 out of pocket after a family-owned European tour company collapsed into liquidation.
The Queensland-based Viaggio Italia Travel went into liquidation last month after it was forced to halt tours due to the COVID-19 pandemic.
Viaggio operated small group tours to destinations across Italy for more than 30 years and had been planning for its busiest European summer ever in 2020 before COVID-19 hit.
A financial report on the company reveals 34 creditors are each owed between $950 and $5861.
The company’s director Gary Francis is owed $14,340 in travel allowances.
It is understood the 34 creditors paid a deposit for a tour.
Viaggio Italia Travel’s collapse is the latest in an international touri…
Read the full article at: https://www.noosanews.com.au/news/tour-operator-collapses-travellers-owed-thousands/4056825/