Insolvency Guardian Media Centre
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NEWLY released statistics show Newcastle had the most new personal insolvencies for the December 2018 quarter in regional NSW, despitelevels falling across other parts of thenation. Statistics released by the federal governments Australian Financial Security Authority (AFSA) also feature Wyong, which the authority classifiesas part of greater Sydney region,as having a high number of new debtors. Newcastles 50 new debtors for the quarter was the highest number in the state outside of Sydney, whilst Wyongs 78 new debtors was the second highest numberin the greater Sydney region. In the December 2018 quarter, there were a total of 6753 new personal insolvencies in Australia, and every state and territory had reduced their …
Read the full article at: https://www.theherald.com.au/story/5880218/insolvency-stats-highest-in-the-hunter/
NEW YORK, Jan. 31, 2019 /PRNewswire/ –Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited from February 2, 2016 through December 5, 2018, inclusive (the “Class Period”) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen Law Firm. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.
To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.htmlor call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET…
Read the full article at: https://www.prnewswire.com/news-releases/yriv-investor-alert-rosen-law-firm-files-securities-class-action-lawsuit-against-yangtze-river-port-and-logistics-limited-reminds-investors-of-important-march-4th-deadline-300787962.html
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology.
Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May 2013.
The next day, one of the students made a Facebook post about the incident.
“Just got kicked out of the unsigned indigenous computer room,” Alex Wood wrote.
“QUT stopping segregation with segregation?”
Jackson Powell, another of the boys kicked out, responded with: “I wonder where the white supremacist computer lab is”.
Another QUT student Calum Thwaites, who was not told to leave th…
Read the full article at: https://www.qt.com.au/news/cindy-prior-declared-bankrupt-years-after-telling-/3637075/
NEW YORK, Jan. 31, 2019 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of The Goldman Sachs Group, Inc., Nova LifeStyle, Inc., Yangtze River Port and Logistics Limited, and YRC Worldwide Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
The Goldman Sachs Group, Inc. (NYSE: GS)
Class Period: February 28, 2014 – December 17, 2018
Lead Plaintiff Deadline: February 19, 2019
The complaint alleges that throughout the class period defendants made materially false and misleading statements regarding the companys business…
Cows with gums: Bendigo and Adelaide Bank for once loses a case bought by a Great Southern agribusiness investor due to shambolic paperwork. (Photo: Kat Jayne)
A NSW court has dismissed loan recovery action by Bendigo and Adelaide Bank against an investor in several Great Southern Plantations schemes. It is not the first time the courts have knocked the bank back over similar recovery action, but more commonly these cases break for the lender.
The District Court of New South Wales decision late last week may encourage the more dogmatic investors in Great Southern schemes who borrowed to make their investments and are still being pursued a decade later for repayment of the loans.
The borrower in this case was Mrs Govindasamy, who p…
Read the full article at: https://www.bankingday.com/nl06_news_selected.php?selkey=24595&stream=30
The judgment came on an appeal by Ruchi Soyas suspended director Vijay Kumar Jain. (File/Reuters)The Supreme Court on Thursday held that the suspended board of directors of a company undergoing insolvency proceedings and its operational creditors must be given all the documents of a resolution plan (RP) as their say in the repayment of debts and safeguarding their interest is important.
It said every participant in the committee of creditors (CoC) meetings is entitled to a notice of every meeting and such notice must contain an agenda of the meeting, together with the copies of all documents relevant for matters to be discussed and the issues to be voted upon at the meeting.
Setting aside the NCLAT judgment that had refused to give copies …
Read the full article at: https://www.financialexpress.com/economy/suspended-board-of-firm-under-insolvency-process-must-be-given-documents-sc/1461118/
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology.
Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May 2013.
The next day, one of the students made a Facebook post about the incident.
“Just got kicked out of the unsigned indigenous computer room,” Alex Wood wrote.
“QUT stopping segregation with segregation?”
Jackson Powell, another of the boys kicked out, responded with: “I wonder where the white supremacist computer lab is”.
Another QUT student Calum Thwaites, who was not told to leave th…
Read the full article at: https://www.southburnetttimes.com.au/news/cindy-prior-declared-bankrupt-years-after-telling-/3637075/
Whisky sales in Korea have been on a continuous downturn over the past decade mainly due to changes in lifestyle of Koreans. The domestic sales of the spirit recorded some 1.49 million boxes (a box containing 500ml bottles) in 2018. Industry watchers attribute it to the reduced chances of get-togethers of company employees after the government measure to limit the maximum workweek to 52 hours, sluggish economy and an increasing number of people enjoying drinking alone.
To find a breakthrough in the declining market, Pernod Ricard Korea (PRK) has announced a restructuring plan, selling off its Imperial brand and reducing the number of employees through an early retirement program.
CEO of the company Jean TOUBOUL said on Janu…
Read the full article at: http://www.businesskorea.co.kr/news/articleView.html?idxno=28908
Weak consumer demand, pressure on household budgets and a range of economic uncertainties have all contributed to a ten per cent year-on-year rise in corporate insolvencies across the UK.
New figures from the Insolvency Service have revealed that, excluding bulk insolvencies, 16,090 businesses entered insolvency in 2018, the highest recorded annual figure since 2014.
And Andrew Haslam, North East chair of insolvency and restructuring body R3, believes that a further rise is likely to follow this year in the light of prevailing economic challenges.
Research by R3 found that the proportion of North East firms across all business sectors with a raised risk of entering insolvency in the next 12 months rose from 35% in January 2018 to 42% t…
Read the full article at: https://www.businessupnorth.co.uk/ten-per-cent-year-on-year-rise-in-corporate-insolvencies/
Pretoria High Court acting judge, Nante Diedericks handed down the judgement even though Daniel claimed that the business could be rescued.
Diedericks gave interested parties until July 11 to show cause as to why the order should not be made final.During the period between the granting of a provisional and final order, notice of the provisional order is given to the company, its employees, potential trade unions involved and SARS.
On the return date, the court may place the company in final liquidation if there is no opposition to the granting of the order.
The applicant, a Pretoria company called Altfund, loaned Mountain View Investments more than R800 000 in 2014. A High Court default judgement indicated that Mountain View owed Altfun…
Read the full article at: https://lowvelder.co.za/466742/fred-daniel-company-provisionally-liquidated/
Anil Ambani-led Reliance Communications (RCom), with a debt of 46,000 crore, has decided to file for insolvency proceedings at National Company Law Tribunal (NCLT) Mumbai to seek fast-track resolution.
RCom had been unable to sell its spectrum and tower assets to Reliance Jio for 20,000 crore The board of directors of RCom today [Friday] reviewed the progress of the companys debt resolution plans since the invocation of SDR on June 2, 2017. The board noted that, despite the passage of over 18 months, lenders have received zero proceeds from the proposed asset monetisation plans, and the overall debt resolution process is yet to make any headway, said RCom in a statement, adding that the board decided that the company would seek fast-tr…
Read the full article at: https://www.thehindu.com/business/Industry/reliance-communications-goes-to-national-company-law-tribunal-for-insolvency/article26154000.ece
A total of 126 people declared bankruptcy in Galway in the past five years, according to new figures from the Insolvency Service of Ireland.
The figures show that between January 2014 and the end of 2018, there were a total of 126 bankruptcies here.
A further 209 people came to insolvency arrangements with creditors during the same period through Debt Relief Notices (DRN), Debt Settlement Arrangements (DSA) or Personal Insolvency Arrangements (PIA).
Where certain criteria are met for debt, a DRN allows the write-off of up to 35,000 subject and the person is subject to a three-year supervision period.
A DSA allows for the agreed settlement of unsecured debt (with no limits) over a period of up to five years. A PIA allow…
Read the full article at: https://connachttribune.ie/insolvency-stats-revealed/