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.
Natus Medical (NASDAQ:BABY) continued its restructuring, which resulted in an ugly first quarter. Fortunately, with expectations low, investors were able
Former One Nation senator Rod Culleton (left) leaves the financial services royal commission in Melbourne. Picture: Aaron Francis.The successful nomination
Factory seconds appliance retailer 2nds World has collapsed after 35 years in business.
The chain was placed into the voluntary administration of chartered accounting firm De Vries Tayeh on April 15.
2nds World has a long-running history, currently selling discounted appliances to retail customers and commercial clients. 2nds World is also a member of Australias largest appliance buying group, Narta, De Vries Tayeh administrator Mark Robinson said in a statement.
A 2nds World outlet in Caringbah, NSW. (Google Maps)
The Administrators are already in discussions with a number of interested parties and are seeking to execute an urgent sale process as a going concern. We encourage any other interested parties to contact us forthwith.
The presence of ineligible candidates on ballot papers could expose election results to challenge even if the winners are qualified to sit in parliament, an academic has warned.
The University of New South Wales constitutional academic George Williams issued the warning after at least two bankrupts Rodney Culleton and Fraser Anning candidate Julie Hoskin successfully nominated and questions were raised about 19 United Australia Party candidates who made incomplete or inconsistent declarations to the Australian Electoral Commission.
After a spate of resignations and disqualifications in the 45th parliament, the joint standing committee on electoral matters studied reform options for section 44, which disqualifies dual citizens and undi…
Natus Medical(NASDAQ:BABY) continued its restructuring, which resulted in an ugly first quarter. Fortunately, with expectations low, investors were able to shrug it off in hopes that the medical device maker will be able to come out the other side a better company.
The number of people going bankrupt across England and Wales is predicted to have jumped to its highest quarterly level since 2014 in official figures released on Tuesday.
The Insolvency Service is due to release personal insolvency figures for the first quarter of 2019.
These are made up of three types of personal insolvency bankruptcies, debt relief orders (DROs) which are aimed at people with lower levels of debt, and individual voluntary arrangements (IVAs) where money is shared out between creditors.
Audit firm RSMpredicts that total personal insolvencies for the quarterwill exceed 30,000 cases, including 4,455 bankruptcies, 19,000 IVAs and 6,945 DROs.
If the figure for bankruptcies is correct, it would be the highest quarterly total s…
KOLKATA: Banks would realise just about a quarter of their claims from 12 corporate debt resolution cases in the January-March period, dashing hopes for higher bad loan recovery in the last quarter of the fiscal.
The lenders will receive merely 17% of the Rs 29500 crore dues from Alok Industries, raising doubts over the future realization.
This is a matter of serious concern. This shows that either there are no tangible assets to back the loans or the assets were overvalued, United Bank of India chief executive, Ashok Kumar Pradhan, said.
The overall bad loan recovery through bankruptcy courts has remained dismal in the first two years of Insolvency and Bankruptcy Code. Banks could realise 43% of the claims in 94 loan default cases that …
Creditors have until May 7 to submit claims as Daniel Chopras Elektrans Shipping has finally been declared insolvent.
Insolvency proceedings against the Indian owner started earlier this month with the process estimated to be concluded by October 20.
The tanker players downfall has been a long time coming with multiple reports of Chopra failing to pay staff on shore and at sea in recent years.
Last year the firms Singapore subsidiary was closed. The companys most high profile foreign executive, Michael Elwert, a Danish national, quit at the start of this year and has since taken a senior role at ship manager V.Group.
Established in 2001, Elektrans Group was formerly known as Doehle Da…
In the volatile landscape of southern Africa, Zambia is often overlooked. It played a huge role in the liberation struggles of its neighbours. The ANC, banned in South Africa by the apartheid government, established its exile headquarters in Lusaka. The SWAPO movement, fighting for a free Namibia, was also headquartered there. Joshua Nkomos wing of the armed struggle in Zimbabwe was there, too.
In the 19th century, Zambia was deeply influenced by Cecil Rhodes and his form of corporate colonialism on behalf of the British crown. Rhodes dreamt of a Cape to Cairo road – and the main street of Lusaka is still called Cairo Road, before it branches into the Great North Road.
But, with the closing phase of apartheid, and the fall of foun…
Saudi Arabia is seeking to open up its government bond market to retail investors as part of sweeping reforms intended to develop a savings culture.
Officials said last week that the countrys government sukuk, or Islamic bonds, would be sold in chunks of SR1,000 ($267), rather than the typical SR1m, in a move that finance minister Mohammed al-Jadaan said was designed to make it easier for retail investors and investment funds to participate in the multibillion-dollar market.
Riyadh has increased its borrowing to finance its budget deficit and help fund Crown Prince Mohammed bin Salmans economic reform programme. The debt management office has said that at the end of 2018 the government had about $150bn in overall debt, 54 per cen…
The number of people going bankrupt across England and Wales is predicted to have jumped to its highest quarterly level since 2014 in official figures released on Tuesday.
The Insolvency Service is due to release personal insolvency figures for the first quarter of 2019.
These are made up of three types of personal insolvency bankruptcies, debt relief orders (DROs) which are aimed at people with lower levels of debt, and individual voluntary arrangements (IVAs) where money is shared out between creditors.
Audit firm RSMpredicts that total personal insolvencies for the quarterwill exceed 30,000 cases, including 4,455 bankruptcies, 19,000 IVAs and 6,945 DROs.
If the figure for bankruptcies is correct, it would be the highest quarterly total s…
Another Australian success story is facing a sharp plot-twist, with Ellery filing for liquidation and citing poor strategic decisions in its wake.
Last week Ellery closed its Sydney-based production facility Elleryland after over a decade of manufacturing and exporting from Australia. In mid-April it closed its Sydney stores and made 22 staff redundant.
I am very proud to have built an independent, globally recognised fashion house from my home, Australia. It has not been without its challenges, which we had always managed to overcome, however unfortunately, running the production out of Australia proved to be commercially unsustainable, said Kym Ellery Founder and Creative Direct…
A BANKRUPT Zilzie company has had their block of land sold from under them as they racked up five years of unpaid rates.
Ray White Yeppoon held an auction on behalf of Livingstone Shire Council last month for a 693m2 block of land at 85 Cocoanut Point Dr, Zilzie.
There were originally 18 properties that were eligible when they began the land rate arrears auction process in September 2018, however many owners paid the total amount of their outstanding rates.
Former One Nation senator Rod Culleton (left) leaves the financial services royal commission in Melbourne. Picture: Aaron Francis.
The successful nomination of two candidates who are undischarged bankrupts has highlighted the Australian Electoral Commissions inability to ensure compliance with the section of the Constitution which led to the resignation of 17 senators and MPs and senators during the 45th parliament.
Fraser Anning candidate for the Victorian seat of Bendigo Julie Hoskin, and former WA One Nation-turned-independent senator Rod Culleton, have been attacked by political opponents and constitutional experts for choosing to nominate, despite their status as bankrupts.
In terms of human nature, you would have thought the rational …
