Insolvency Guardian Media Centre
John Veighey took the cash from customers to help his father out of debt
A shop assistant pocketed customer payments up to 20 times in a bid to help his unsuspecting father out of debt, a court has been told.
John Veighey stole cash given to him for wine purchases and then cancelled transactions at a Russell’s convenience store in Belfast.
The 24-year-old took a total of £253 over a two-week period.
Veighey was given 12 months probation and 100 hours community service after he admitted theft.
Prosecutor Stephanie Boyd told Belfast Magistrates’ Court that management in the store became…
Read the full article at: https://www.bbc.com/news/uk-northern-ireland-45359881
Dear Sir/Madam,
This is to inform you that Castex Technologies Limited (“CTL”) is undergoing the Corporate Insolvency Resolution Process under the provisions of the Insolvency and Bankruptcy Code, 2016 (“Code”), in terms of order passed by the Honble National Company Law Tribunal (“NCLT”), Chandigarh Bench, with effect from 20th December,2017. Mr. Dinkar T. Venkatasubramanian was appointed as the Insolvency Resolution Process (IRP) with effect from 22ND December, 2017 and subsequently confirmed as RP by the Committee of Creditors in its meeting held on 12th January, 2018 under the provisions of the Code.
Further, we wish to inform you that pursuant to the provisions of the Code, the Committee of Creditors of CTL has approved the re…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/castex-technologies-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article24821985.ece
The National Company Law Tribunal vide its order dated 30/08/2018 has admitted a plea filed by operational creditors who initiated Corporate Insolvency Resolution Process (CIRP) against Lavasa Corporation Limited under the Insolvency and Bankruptcy Code 2016 (IBC). NCLT has appointed Mr. Devendra Prasad as Interim Resolution Professional under the provisions of the IBC.
Lavasa Corporation Limited (Lavasa) is jointly held by Hindustan Construction Company Limited (68.7%), Avantha Group (17.18%), Venkateshwara Hatcheries (7.81%) and Mr. Vithal Maniar (6.29%).
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/lavasa-corporation-ltd-corporate-insolvency-resolution-process-cirp-admission-of-application-by-tribunal/article24821813.ece
Dear Sir / Madam,
We would like to inform you that meeting of 16th Committee of Creditors of ABG Shipyard Limited is scheduled to be held on Monday, 03rd September 2018 at 02:30 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Worli Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/abg-shipyard-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article24820351.ece
Dear Sir / Madam,
We would like to inform you that meeting of the 03rd Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Tuesday, 04th September 2018 at 03:00 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article24819984.ece
China Cinda Asset Management, one of the countrys four biggest state-owned bad debt managers, said on Thursday it would proactively help the government tackle peer-to-peer (P2P) lending risks, after confirming Chinas top financial regulator had recently met the big four asset management companies on the issue following several protests in the past few weeks by investors who had lost money on collapsed P2P platforms.
P2P risks are a social issue of great concern in China
Chen Yanqing, assistant to president, China Cinda Asset Management
P2P risks are a social issue of great concern in China. As a professional company managing bad debt, we will proactively take part in tackling relevant risks and help the government address the issue,…
Read the full article at: https://www.scmp.com/business/companies/article/2162023/bad-debt-manager-china-cinda-help-top-regulator-tackle-peer-peer
The Maggie Beer Products gourmet foods business remains immersed in red ink but a restructuring program has prompted a glimmer of optimism from 48 per cent owner Longtable Group that the maker of ice-creams, pate, quince pastes and sauces can eventually make a profit.
Longtable, which also owns the Paris Creek premium dairy business, revealed on Thursday that Maggie Beer Products had suffered a bottomline loss of $1.23 million for 2017-18. This compared with a loss of $2.13 million in the previous financial year.
The Maggie Beer Products business was built over decades by Maggie Beer, who has a national profile through a string of cookbooks, television shows and as a frequent guest judge of Network Ten’s MasterChef series.
L…
Read the full article at: https://www.afr.com/business/retail/fmcg/maggie-beer-makes-losses-but-a-hint-of-optimism-grows-longtable-group-20180830-h14qgd
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Two weeks later Ms Sampieri said Mr Le arrived at the offices of Mr Whiteman and Mr Le was covered in bruises and scratches and had a limp.
He told me he had been hit from behind with an iron bar and when he was on the ground they were kicking him.
Ms Sampieri told the court she didnt report the matter to police or the conversations she heard about the alleged assault to police, because I was scared for myself.
Liquidators Andrew Yeo and Gess Rambaldi of Pitcher Partners are investigating allegations creditors, including the Australian Taxation Office, were ripped off when more than 360 companies were phoenixed by a suite of companies controlled by Mr Whiteman, either in his own name or, as the court heard this week, under one of his…
Read the full article at: https://www.smh.com.au/business/banking-and-finance/he-s-going-to-get-hit-with-an-iron-bar-fraudsters-joked-about-bashing-fake-director-20180830-p500pv.html
WEST Perth creditors can get back 4 per cent of what they are owed or get nothing.
That is essentially the message after administrator KordaMentha released its recommendations this week into the finances of the Joondalup WAFL club, which went into voluntary administration last month with about $790,000 debt.
It means if the Falcons owe a creditor $100,000, the entity would get just $4000 back.
MORE: West Perth finance investigation highlights mismanagement
MORE: WAFC registers Joondalup Falcons name
MORE: director resigns amid West Perth financial crisis
The four cents in the dollar proposal, which KordaMentha considered the best alternative, forms part of a deed of company arrangement put forward by the WA Football Commission.
The deed would a…
Read the full article at: https://www.communitynews.com.au/joondalup-times/sport/wafl-west-perth-creditors-told-to-see-cents-after-voluntary-adminstration-analysis
The Government will give new powers to the Insolvency Service to crack down on reckless directors who phoenix their firms.
The Department for Business, Energy & Industrial Strategy (BEIS) has unveiled a series of new measures on corporate governance and insolvency which include new powers for the Insolvency Service to investigate directors of dissolved companies where they are suspected of having acted in breach of their legal obligations.
Under the new powers, which will be set out in further detail in the autumn, the Insolvency Service will be able to fine directors or even have them disqualified.
The government said the new rules respond to the many calls for the government to act against the practice of phoenixing, which is often used t…
Read the full article at: https://www.ftadviser.com/pensions/2018/08/28/govt-to-crackdown-on-phoenixed-firms/
- Foodora announced it would close operations in Australia on August 2, but 15 days later was placed in voluntary administration.
- Its believed that concerns over outstanding tax liabilities to both the NSW and federal governments led the German parent company, Delivery Hero, to pull its support for the business, hastening its demise.
- Delivery Hero, worth around $AU12 billion, says it is owed $28 million in a loan to the Australian operation.
- The ATO has yet to finalise how much the company owes in tax and superannuation.
- On the day the business was placed in voluntary administration, the company paid to Foodora-related entities in Asia nearly $100,000.
Global…
Read the full article at: https://www.businessinsider.com.au/foodora-australia-left-town-owing-tax-superannuation-and-28-million-to-its-parent-company-2018-8
Prominent Albany construction business Tectonic Construction Group entered liquidation last week with immediate effect.
At a company general meeting on August 22, it was agreed the business, which started in 1987, would be wound up.
The decision came only months after the business finished the Albany Tourism and Information Hub earlier this year, after comfortably beating four other companies to the tender.
Tectonics also recently completed the restoration works of the former Albany Masonic Hall and Albany Co-operative Society Building.
Tectonics website said the company had operated for more than 30 years in the region building homes and commercial buildings.
Member for Albany Peter Watson said losing Tectonic was disappointing.
Business is h…
Read the full article at: https://thewest.com.au/news/albany-advertiser/construction-firm-enters-liquidation-ng-b88943987z