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Optus will make 440 employees redundant as the telecommunications company restructures the business to focus on "digitisation and automation". Employees
DEAD rapper Jett McKee played a balaclava-wearing home invader in a hip hop video three years before he allegedly broke into an inner western Sydney flat two weeks ago.
In the video clip, the musician known as Scepaz uses a balaclava and replica gun similar to what he allegedly carried while demanding money in this months real life home invasion.
McKee died following an alleged chase after the break-in by two people now charged with his murder.
In the 2015 video, made by Word Heist with fellow rapper Papa Tear, McKee appears in gritty street scenes before finally donning a balaclava and breaking into an apartment.
The scenes are cut with real footage of disgraced police officer Roger Rogersons arrest and CCTV images before he and Glen McNama…
NATHAN Tinkler has always been very good at collecting enemies.
The one-time billionaire’s volatility and reputation for not paying his debts has seen him fallout with countless friends and people hes worked with, even his own family.
Amid the wreckage of his collapsed business empire is his only sibling Donna Dennis and former trusted lieutenant Troy Palmer, both declared bankrupt due to their time as directors of Tinkler Group companies.
But there is one relationship the former mining magnate has always been very careful to preserve.
His friendship with billionaire retail king Gerry Harvey.
Its a relationship that has served Mr Tinkler well, despite Mr Harveys – at times – blunt assessment of his friends prickly personality.
Over 1,300 employees of Jyoti Structures, a Mumbai-based engineering and procurement (EPC) company, are heaving a sigh of relief as the National Company Law Appellate Tribunal (NCLAT) has granted a stay on the liquidation order passed against the insolvent firm.
Its employees are spread over two manufacturing units in Nashik and Raipur, and at various project sites.
The stay order comes after the company’s employees as well as a group of investors led by Netmagic’s Sharad Sanghi (the resolution applicant) appealed against a previous order by the National Company Law Tribunal (NCLT) at NCLAT.
The appellate tribunal will hear the case next on September 18.
In July, the Mumbai bench of NCLT had ordered liquidation of the debt…
Telecommunications giant Optus will cut 440 jobs as the company moves to digitisation and automation in a bid to remain competitive in the mobile market.
It is an attempt to improve efficiency and become a “world-class” digital service provider, an Optus spokeswoman told AAP in a statement on Wednesday.
“As we continue to evolve the way we work, do business and fund future investments we are removing duplication, improving our operating efficiency and embracing next-generation technologies, like digitisation and automation to achieve this goal,” she said.
The telco says it is restructuring the company to become the “next-generation” Optus.
It insists it will discuss redeployment opportunities with affected employees.
Adriano Zumbo’s dessert empire may have been trading insolvent since at least mid 2017, raising questions about the dessert king’s breach of obligations as a company director.
According to the administrators’ report, sent to creditors last week, the Melbourne upmarket retailer I’m So Fancy Pty Ltd “may have been insolvent from at least early to mid 2017”. This is based on the administrators’ investigation so far and subject to further investigation.
I’m So Fancy Pty Ltd operated a high-tea cafe in Melbourne’s South Yarra, under the names Little Frankies, Zumbo Cafe and Fancy Nance.
The Companies (Demerger) (Jersey) Regulations 2018 will take effect on 1 September 2018 and will provide a more flexible regime, including a quicker and more cost effective and flexible route to demergers than the use of schemes of arrangement or other more complex reorganisations.
But Mr Amy says that the opportunities created by the amendments potentially extend to restructuring and other types of work, as well as M&A work: They offer welcome additional flexibility, particularly in respect of large, complex or multi-national businesses with diverse assets which want to hive off or otherwise dispose of assets. We have already seen significant interest in this new regime and I am sure the intermediaries we work with around the world wil…
Despite making up 20 per cent of Western Australias personal insolvency figures, people in regional WA are faring much better than those in the greater metropolitan area, according to the latest statistics.
Statistics for the June quarter from the Australian Financial Security Authority showed that 19 per cent of personal insolvencies in regional areas over the period were business related.
But just 53 people per 100,000 adults in the regional areas have been overwhelmed by mounting debts and forced into insolvencies, compared to 57 per 100,000 in the metro area.
Those struggling have risen across the board in regional WA from the March quarter to the end of the financial year, with Albany the worst hit, as the citys debtors have risen by …
The personal insolvency rate in Wales across 2017 was higher than the previous year, and higher than Englands rate, says insolvency trade body R3.
In all, 23 people per 10,000 adults became insolvent in Wales in 2017, compared with 21.5 the previous year, according to the Insolvency Services figures. Waless 2017 rate of personal insolvency was 7% higher than the rate in England of 21.4 per 10,000 adults.
Welsh women also became insolvent at a greater rate than Waless men (24.4 per 10,000 women against 21.6 per 10,000 men). Women aged 35-44 had the highest rate of personal insolvency, at 48.6 per 10,000, with the 25-34 age group just behind on 48.5; for men, the 35-44 age group also had the highest rate with 42.1 per 10,000 adults, wi…
Preliminary investigations by the administrators of dessert king Adriano Zumbos cafes have suggested one of the entities in administration could have been trading while insolvent since mid-2017.
Three of Zumbos businesses, 611 Pty Ltd, Mel611 Pty Ltd and Im So Fancy Pty Ltd, entered voluntary administration at the start of the month, though they continue to trade. Reasons for the voluntary administration were not defined at the time, however, it was revealed the companies had an outstanding debt of about $10 million.
Fairfax reports that according to a new creditor report sent out last week, administrators Anthony Elkerton and Justin Holzman from DW Advisory have alerted creditors that one entity, Im So Fancy Pty Ltd, may have been i…
The director of a hair transplant company that treated famous customers has gone bust after being confronted with a number of complaints.
Simon Lindsay has declared himself bankrupt with debts of almost £300,000 following the collapse of his company KSL Hair in Glasgow. The business performed transplants for the Celtic footballers Leigh Griffiths and Anthony Stokes, and the Westlife singer Brian McFadden.
Its Glasgow clinic closed in March and the company has been placed into liquidation after dozens of complaints about botched treatments. Mr Lindsay, 39, who featured in marketing campaigns for the clinic showing off the £7,000 hair treatments, applied for bankruptcy after running up debts of £272,744. It was approved this week by the Ac…
In July, the Mumbai bench of NCLT had ordered liquidation of the debt…
