Insolvency Guardian Media Centre
On March 19, 2019, the federal government tabled its 2019 budget (2019 Budget), which included a number of provisions related to pensions, benefits and executive compensation, as summarized below.
Changes to Insolvency Proceedings, Corporate Law and Pensions
Changes to Stock Options
Unclaimed Assets Framework
Permitting Additional Types of Annuities Under Registered Plans
Individual Pension Plans
Contributions to a Specified Multi-Employer Plan for Older Members
Changes to Tax-Free Savings Accounts
Pharmacare
Canada Pension Plan
Guaranteed Income Supplement
CHANGES TO INSOLVENCY PROCEEDINGS, CORPORATE LAW AND PENSIONS
The 2019 Budget proposes to introduce legislative amendments to the Companies Creditors Arrangement Act, the Bankruptcy…
Read the full article at: https://www.jdsupra.com/legalnews/2019-federal-budget-key-provisions-19655/
Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.
Under the offer, Blackham will issue five shares for every four shares held, at a price of 1.5 cents, which is a 44.4 per cent discount to its previous closing price of 2.7 cents each.
It will also issue one free attaching option for every three of the entitlement shares issued, with each option being exercisable at 3 cents each at an expiry date of October 12 2020.
MACA has agreed to sub-underwrite up to $7.5 million of the entitlements issue, with MACAs participation to be applied to a reduction of the trade receivable balance owing t…
Read the full article at: https://www.businessnews.com.au/article/Blackham-to-raise-26m-to-help-pay-off-debts
Follow us on Facebook for great stories daily!How could the father do such a thing to his own daughter!
Recently, a man from China was arrested for selling his child for RM35,000 to settle his online gambling debt. The father, Jiang, came from Guiyang, Guizhou and said that he had to do so because he was unemployed.
Source: DailyMail
According to DailyMail, Jiang first told his wife that he was bringing their daughter to her grandmothers house last November. However, after not hearing from her daughter for three months, Jiangs wife started to grow suspicious about her childs whereabouts. Every time she asked him about their daughter, Jiang would just give different excuses to justify her absence.
After three months, his wife could not stand …
Read the full article at: https://www.worldofbuzz.com/jobless-man-could-not-pay-his-gambling-debts-so-he-sold-his-1yo-daughter-for-rm35000/
A man in China has been arrested on suspicion of human trafficking for selling his infant daughter online to repay his gambling debts of 6,800.
Read the full article at: https://metro.co.uk/video/father-sells-baby-daughter-online-pay-6-800-gambling-debt-1887534/
A CRUEL dad has been arrested for selling his baby daughter online for 6,800 to pay off his gambling debts.
Named only as Jiang, the heartless father sold the one-year-old to a couple after racking up debts of more than 60,000 Yuan (6,798), according to reports in China.
Pear Video
Pear Video
He flew her more than 1,150 miles away from their home in Guiyang, Guizhou province, last November after lying to his wife about needing to stay with his mother.
But his wife grew concerned after he repeatedly postponed their return for a staggering three months, according to the reports seen by Mail Onl…
Read the full article at: https://www.thesun.co.uk/news/8685222/dad-sells-baby-daughter-china-gambling-debt/
A CRUEL dad has been arrested for selling his baby daughter online for 6,800 to pay off his gambling debts.
Named only as Jiang, the heartless father sold the one-year-old to a couple after racking up debts of more than 60,000 Yuan (6,798), according to reports in China.
Pear Video
Pear Video
He flew her more than 1,150 miles away from their home in Guiyang, Guizhou province, last November after lying to his wife about needing to stay with his mother.
But his wife grew concerned after he repeatedly postponed their return for a staggering three months, according to the reports seen by Mail Onl…
Read the full article at: https://www.thesun.ie/news/3891741/cruel-dad-sells-baby-daughter-one-to-couple-in-china-to-pay-off-6800-in-online-gambling-debts/
Update on the voting results of the 18th meeting of the Committee of Creditors of Viceroy Hotels Limited (CoC).
This is to inform you that the e-voting on the resolutions put to vote at the 18th meeting of the CoC of the Company commenced on 19 March, 2019 at 04:00 p.m. and concluded on 20 March, 2019 at 04:00 p.m.
In this regard, please find appended the following outcome of E-Voting:
In terms of provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) the resolution plan submitted by M/s CFM Asset Reconstruction Company Private Limited for M/s Viceroy Hotels Limited has been approved by the Committee of Creditors of the company and identified as a successful resolution applicant, subject to approval of the Honble NCLT, Hyderabad benc…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/viceroy-hotels-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article26591981.ece
A company which provided school improvement, governor support and other services to hundreds of schools in Buckinghamshire is to go into liquidation, citing changes to national education policy.
Trustees of Buckinghamshire Learning Trust have confirmed that the company, formed in 2013 to run certain services outsourced by Buckinghamshire County Council, has ceased trading.
Despite exploring a range of options with potential partners, the trustees were unable to secure the future of the trust
It follows a tumultuous few years for the organisation, which according to accounts underwent a significant transformation in 2018 involving the transfer of services contracted by the council back to County Hall.
It also follows years of…
Read the full article at: https://schoolsweek.co.uk/buckinghamshire-school-support-company-goes-into-liquidation/
One of Australias most prominent tech startups – custom footwear-maker Shoes of Prey – has filed for insolvency.
Helpfully, co-founder Michael Fox has explained why in a Medium post.
The TL;DR: even though it had a loyal fan base among well-heeled women who appreciated its shoe customisation service, the company was never profitable and couldnt find a way to get there.
Shoes of Preys schtick was an online shoe design tool, focussed on stylish womens footwear. The company was hailed as a pioneer of personalised and customised apparel. It won a stack of awards from the retail and startup industries to attest to its early splash. Its founders were asked to speak at conferences to describe their insights into the future…
Read the full article at: https://www.crn.com.au/news/startupland-darling-shoes-of-prey-files-for-insolvency-520405