Contractors owed money by a Queenstown property developer say they were chasing payments long before the related entities went into liquidation, describing disconnected phone lines and a quiet construction site. 

“We get so sick of these people,” says a manager are Safety Nets NZ Ltd, which is also owed money in the Du Val Group statutory management. “It happens all the time where they claim they’ve gone broke, and then they start another company and keep trading while all their contractors get ripped off.”

Formcrete Construction, Falconer Corporate and two connected companies were placed in liquidation by the High Court at Rotorua, by application of Inland Revenue. Formcrete and Falconer, which both list Nicholas…

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In a significant move aimed at to bring greater scrutiny to past financial dealings of distressed companies, particularly those termed avoidance transactions, the Insolvency and Bankruptcy Board of India (IBBI) has notified key amendments to the Insolvency and Bankruptcy rules. These changes are effective immediately.

The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025, underscore a proactive approach to unearthing and addressing financial irregularities that might have diminished a corporate debtor’s assets before insolvency proceedings began.

A central pillar of the new amendments is the mandate for enhanced disclosure in the…

8 July 2025 – For years, blended finance —utilizing public development funds to attract private investment in developing countries —has been touted as a powerful means to bridge the financing gap for achieving the Sustainable Development Goals (SDGs). However, with this gap currently standing at US$4 trillion, according to data from the United Nations Department of Economic and Social Affairs (UN DESA), blended finance is not living up to its potential.

“Blended finance can unlock private capital for sustainable development,” said UN Under-Secretary-General Li Junhua in opening remarks on Wednesday at a standing-room-only UN DESA Global Policy Dialogue on “Reimagining Blended Finance: Aligning Capital with the…

Across the globe, people affected by problem gambling can quickly pile up debt. This in turn pushes some into criminal activities such as theft, fraud, or even murder in some cases. A crippling gambling addiction is the main reason for the tarnished reputation of one popular South Korean comedian who accumulated debt and asked fellow celebrities for money to help him settle it.

Jimin Loaned $70K to Lle Jin Ho

This is the case of Lee Jin Ho, the famous comedian from South Korea who gained worldwide popularity for participating in the show “Knowing Bros” on Netflix. The comedian took to his personal page on Instagram to admit that he was suffering from a gambling addiction which pushed him into…

The Technical University of Kenya (TUK) has been declared insolvent by Parliament amid a deepening financial crisis marked by a Ksh12 billion debt and persistent salary delays for staff.

The crisis has largely been blamed on a bloated workforce that exceeds the institution’s operational capacity, with payroll consuming Ksh270 million monthly. Additionally, TUK has failed to remit statutory deductions for several years.

Appearing before the Parliamentary Committee on Education on Wednesday, April 16, current and former administrators faced tough questions about how the institution accrued debts now exceeding Ksh12 billion.

The administrators admitted to severe financial mismanagement, revealing that staff, including lecturers,…

The Technical University of Kenya (TUK) has addressed reports that the university has been shut down days after it was declared financially insolvent by the National Assembly.

The Parliamentary Committee on Education on Wednesday, April 16, declared TUK insolvent amid a deepening financial crisis marked by billions of debts and persistent salary delays for staff.

This came after current and former administrators faced tough questions before the committee about how the institution accrued debts exceeding Ksh12 billion.

Following the insolvency declaration, a notice purported to be from TUK resurfaced, claiming that the university has been closed.

The document, which has since been flagged as fake, alleged that the university…

Showbiz is all about the blinding glitz and glamor, but it is just as much about the persistent bickering in and around the stars deal on a daily basis. Although some artists are too well-versed in the cruelty of the entertainment capital, not everyone belongs to the camp. Yet, despite steering clear of the archetype controversies that often entangle the starlets, Bruno Mars secured a landing in the conflicting row of a $50 million debt.

For those caught a little off-guard by the buzz, here is the scoop on the entire drama.

All about Bruno Mars’ $50 million overdraft

Bruno Mars has had quite the chart-topping career over two decades, and throughout, the singer has expertly dodged drama and…