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Najib not yet a bankrupt despite being served with notice over unpaid taxes, says lawyer

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak is not bankrupt yet, despite his alleged failure to pay the Inland Revenue Board (LHDN) RM1.69bil in additional income tax arrears, says his lawyer Wee Yeong Kang. ....

Kuala Lumpur , Athari Faris Ammery Hussein , Najib Razak , Pyeong Kang , Ida Rahayu Sharif , High Court , Datuk Seri Najib Razak , Inland Revenue Board , Wee Yeong , Income Tax Act , Courts Crime , Income Tax , Tax Arrears , குவாலா லம்பூர் , நஜிப் ர்யாஸக் , யோங் காங் , உயர் நீதிமன்றம் , உள்நாட்டு வருவாய் பலகை , வருமானம் வரி நாடகம் , நீதிமன்றங்கள் குற்றம் , வருமானம் வரி ,

Relief likely for owners of Covid-hit bankrupt firms

Express News Service
NEW DELHI: The government is looking to relax norms for promoters buying back companies that have gone bankrupt if the default has happened due to factors induced by last year’s nationwide lockdown.
“The government has been strict about promoters buying back companies. However, the last year was an extraordinary situation and we are considering a proposal which will allow promoters to buy back their companies if the bankruptcy is triggered by Covid. The fine print of the proposal is being discussed currently,” a senior official from the Ministry of Corporate Affairs said.
According to an amendment made in the Insolvency and Bankruptcy Code (IBC) on January 6, 2020, a defaulting promoter is not eligible to submit a resolution plan for their bankrupt company and shall not be a party to any compromise or arrangement of the company. A secured creditor cannot sell or transfer an asset to the promoters either. This was done to prevent prom ....

Anuradha Shukla , Ministry Of Corporate Affairs , News Service , Corporate Affairs , Bankruptcy Code , அனுராதா சுக்லா , அமைச்சகம் ஆஃப் பெருநிறுவன வாழ்க்கைத்தொழில்கள் , செய்தி சேவை , பெருநிறுவன வாழ்க்கைத்தொழில்கள் , திவால்நிலை குறியீடு ,

Bankrupt power

Bankrupt power
March 7, 2021
The power sector is the foundation of an economy. Red alert: Pakistan’s power sector – sans government subsidies – is bankrupt. The real culprit behind this bankruptcy is: gross misgovernance. This gross misgovernance shows up as: circular debt and capacity payments (the two are indeed related).
Circular debt has risen from Rs1.1 trillion in 2018 to Rs2.4 trillion – and is projected to hit Rs4 trillion by 2025. Capacity payments – payments made for not utilising the installed power capacity – have gone up from Rs664 billion to Rs900 billion, and are projected to hit Rs1.5 trillion a year in the next couple of years. Imagine, capacity payments amount to 3 percent of Pakistan’s GDP. Lo and behold, circular debt is projected to hit a worrisome 8 percent of GDP. ....

Power Purchase Agreements , Independent Power Producers , Electric Vehicle , சுயாதீனமான பவர் ப்ரொட்யூஸர்ஸ் , மின்சார வாகனம் ,

Bankrupted accountant may be discharged without conviction

Bankrupted accountant may be discharged without conviction
24 Feb, 2021 04:00 PM
3 minutes to read
A bankrupted accountant will be discharged without conviction by the Whangārei District Court if he pays costs of $2500.
Photo / Michael Cunningham
A bankrupted accountant will be discharged without conviction by the Whangārei District Court if he pays costs of $2500.
Photo / Michael Cunningham
Imran Ali is a reporter for the Northern [email protected]
A provisional chartered accountant declared bankrupt will be discharged without conviction on charges of failing to comply with obligations under the law if he can pay costs of $2500.
Michiel David Bezuidenhoudt appeared for sentencing in the Whangārei District Court yesterday after he was last month found guilty by a jury of breaching the Insolvency Act. ....

New Zealand General , New Zealand , John Moroney , Duncan Harvey , Michiel David Bezuidenhoudt , Ministry Of Justice , Zealand Institute Of Chartered Accountants , District Court , High Court , David Bezuidenhoudt , Official Assignee , New Zealand Institute , Chartered Accountants , புதியது ஜீலாந்து ஜநரல் , புதியது ஜீலாந்து , ஜான் மூரோனி , டங்கன் ஹார்வி , அமைச்சகம் ஆஃப் நீதி , ஜீலாந்து நிறுவனம் ஆஃப் பட்டய கணக்காளர்கள் , மாவட்டம் நீதிமன்றம் , உயர் நீதிமன்றம் , புதியது ஜீலாந்து நிறுவனம் , பட்டய கணக்காளர்கள் ,

Pandemic woes add to ditched FIE rise

Pandemic woes add to ditched FIE rise
11:50 | 23/02/2021
The number of foreign investors fleeing from their responsibilities in Vietnam is likely to increase as more businesses go bankrupt due to the stretched economic effects of the pandemic.
Enterprises that make popular products for export have been at risk of collapse due to restrictions. Photo: Le Toan
On February 17, hundreds of workers of Chinaâs Delancey Street Furniture Vietnam Co., Ltd. in the southern province of Binh Duongâs Ben Cat district went to work as usual only to find that the company had shut down without notifying them. Nearly 350 workers became unemployed in an instant right after the national Lunar New Year holiday, following the companyâs dissolution decision. ....

Republic Of , Vung Tau , Baa Vung Tavm , Van Hoan , Thanh Hóm , South Korea , Binh Duong , Qu Ng Nam , South Korean , Binh Duong Ben , Dai Loc Shoe Corporation , Metacor Vn Co Ltd , Labour Relation Department , Confederation Of Labour , Ho Chi Minh City Labour Confederation , Furniture Vietnam Co Ltd , Binh Duong Labour Confederation , Law On Enterprises , Ho Chi Minh City People Committee , Kaiyang Vietnam Co Ltd , Ben Cat , Lunar New Year , Phu Myi Industrial Park , Lifepro Vietnam , Ado Vina , Quatron Steel ,