Insolvency Guardian Media Centre
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/
Australian makeup retailer Napoleon Perdis has fallen into voluntary administration, appointing administrators Simon Catho, Chris Cook and Ivan Glavas of Worrells Solvency Accountants.
The retailers directors have been trying to sell the business for several months, but hope to do so through the administration process, or that the brand will be restructured.
The brand is still in high demand from our customers and is more innovative than ever, so by restructuring the business in this manner, we believe, puts it in a prime position to continue to evolve through continued trade or in a sale, founder Napoleon Perdis said.
My family and I are 100 per cent committed to achieving the best outcome for all stakeholders.
The brand has been in…
Read the full article at: https://www.insideretail.com.au/news/napoleon-perdis-enters-voluntary-administration-201901
SAP restructuring to focus on cloud
SAP CEO Bill McDermott (Image: SAP)
German vendor follows suit as the big tech firms reorganise in transition to selling cloud software
Print
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Read the full article at: https://www.techcentral.ie/sap-restructuring-to-focus-on-cloud/
This press release was orginally distributed by SBWire
Lansdale, PA — (SBWIRE) — 01/31/2019 — Those who are facing a mountain of debt while still able to make payments are encouraged to contact the knowledgeable attorneys at Tadross Law. An attorney from this law firm will be more than happy to discuss the various benefits of debt settlement in Philadelphia and the surrounding regions.
Debt settlement establishes a reduced payment of debt in exchange for a lump sum or restructured monthly payments. The attorneys from Tadross Law are able to educate clients on the debt settlement process, as well as negotiate on their behalf and determine the best payment plan for the client and the creditors.
There are two types of debt an individual ca…
Read the full article at: http://www.digitaljournal.com/pr/4136058
Market House Insolvency Services Limited (MHIS) in association with Home for Life held a workshop on personal insolvency and mortgage-to-rent solutions at the Mount Errigal Hotel, Letterkenny, on January 22.
The Workshop was attended by local MABS representatives, solicitors and accountants and provided information on assessing mortgage-to-rent as a means of solving serious mortgage debt problems along with personal insolvency solutions such as Personal Insolvency Arrangements, Debt Settlement Arrangements or Bankruptcy.
Find Solutions
MHIS is a personal insolvency practice located in Market Square, Letterkenny and since 2014 has been helping people find solutions for their debt problems.
Paul C…
Read the full article at: https://www.donegaldemocrat.ie/news/home/361662/well-attended-mhis-workshop-discusses-personal-insolvency-and-mortgage-to-rent-solutions.html
The National Company Law Tribunal (NCLT) has asked to initiate insolvency proceedings against real estate firm Emaar MGF Land after two home buyers filed petition against the company for a huge delay in delivery of their housing units. Admitting the pleas of two of its home buyers, a two member bench headed by NCLT President Justice MM Kumar has appointed one Manoj Kumar Anand as the interim resolution professional of the company and directed him to make a public announcement about the development.
The tribunal has also directed the company, its erstwhile director, promoters or any other person associated with the Emaar MGF Land to extend every assistance and cooperation to the interim resolution professional”.
The NCLT …
Read the full article at: https://www.moneycontrol.com/news/business/companies/nclt-admits-insolvency-plea-against-emaar-mgf-land-appoints-resolution-professional-3461961.html
AUSTRALIAN cosmetics empire Napoleon Perdis Group has gone into voluntary administration, putting jobs and 56 local stores at risk.
This includes stores in Joondalup, Hillarys, Midland, Booroogoon, Cockburn and Rockingham.
Company directors had been trying to find a buyer for months.
The struggling brand was created in 1995 by Australian makeup artist Napoleon Perdis, who started with a concept store in Sydney before expanding the company overseas in 2004.
Administrators Simon Cathro, Chris Cook and Ivan Glavas of Worrells Solvency Accountants will now consider a restructure or pursue the sale option while the business continues to trade.
All Napolean Perdis stores closed today for a stocktake and are scheduled to reopen tomorrow with an expe…
Read the full article at: https://www.communitynews.com.au/joondalup-times/business/napoleon-perdis-group-in-voluntary-administration