Insolvency Guardian Media Centre
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Beleaguered publican Jon Adgemis’ plan to avoid bankruptcy is in tatters after the trustee overseeing his assets was forced by a regulator to adjourn a meeting to decide whether he should be made bankrupt over his $1.8 billion debt pile.
In a letter to WLP Restructuring, the Australian Financial Security Authority said it was not satisfied with the investigation into Adgemis’ assets and called for a vote on a deal with creditors to be halted.
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REVEALED: Latest business liquidations in Scenic Rim The Courier Mail
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Four companies controlled by Paddy McKillen Jr have entered liquidation as part of the ongoing Press Up and Oakmount Group restructuring. The four non-trading companies – Ingaro Ltd, a former Oakmount management company, Beautiful Oak Ltd, another small management company, Tomose Ltd, the former Union Café operating company, and Sanphase Ltd, the former Lucky Duck operating company – have all today been placed into liquidation. Corporate restructuring advisor Cormac Mohan of Fitzwilliam Corporate has been named as the nominated liquidator of all four companies. The largest creditor is McKillen Jr, who invested about €7 million in the four companies. There…
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It has emerged that Eden M&J Ltd, owned by Julie O’Shea, has entered creditors’ voluntary liquidation.
According to the Department for the Economy, this is when the shareholders of a company “decide to put the company into liquidation, but there aren’t enough assets to pay the creditors in full.”
In addition to £139,601.49 owing to HMRC for VAT and PAYE, the company also owes £100,972 to competitions business Net-a-Deal and £25,693.80 to Ulster Bank in Enniskillen. Net-a-Deal is run by Mrs O’Shea’s husband, Mark O’Shea.
The company, which specialised in hairdressing and other beauty treatments mainly at its business Eden Hair and Beauty, also owes £4,632 to Mrs O’Shea, its director.
HMRC is…
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Michael Sheen has always been known for his ability to play larger-than-life roles. Now, he’s proving that some of his most remarkable work takes place off-screen. By using £100,000 of his own money, the actor managed to clear £1 million of debt for 900 people across the United Kingdom. The twist? Those helped by his act of generosity will never know who he is—and he doesn’t know who they are either.
Sheen revealed the story to the BBC, explaining that he deliberately chose to remain at arm’s length from the lives he transformed. “I knew where they would live and I knew the kind of debt it was,” he said, “but I would never know who they are and I still don’t know who they are.”