Bank Repossession

Corporate insolvency appointments in relation to companies registered in NSW, VIC, QLD, SA, WA, ACT, NT & TAS. Liquidation normally occurs when a company has failed and creditors resolve that it be wound up. List of bankruptcy , insolvency appointments 30 Nov Vanarden Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, QLD 30 Nov SMK Enterprises (Aust) Pty Ltd t/as Pet Cafe Cleveland Creditors' Meeting for Voluntary Creditors' Liquidations, QLD 30 Nov TSA Corporation Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, WA 30 Nov ACN 007 093 245 Pty Ltd formerly k/as Croydon Auto Electrical Services Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, VIC 30 Nov Hanlay Industrial Group Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, VIC 30 Nov S & K Contracting Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, NSW 30 Nov Zalma...

School books supplier Wooldridges has closed all of its WA stores and laid off staff. Accounting firm Grant Thornton was appointed administrators of Education Works Pty Limited , which trades under the name Wooldridges, Elizabeth Richards and Photoworks. Wooldridges has around a 75 per cent market share of school book sales in WA with most of the schools requiring thier students  to visit these shops to get thier books and  study material, yet they have managed to get into this position. Punters were pretty disappointed with these results A legal battle between Wooldridges and Corporate Express over delays which resulted in thousands of WA students starting school this year without ordered textbooks and stationery. The company started as a family business in Perth in the 1960s . It was then bought by Sydney-based private equity firm Fulcrum Capital Partners in 2008. Campion education is poised to boost its market share in the school books supply space following ...

Getting information like if a person has been bankrupt before  or getting insolvency history or company details  can often be quite important before  a person or a company makes a decision to deal with  a entity or person. So what is the NPII ( National Personal Insolvency INDEX) ? The National Personal Insolvency Index is a data base maintained by the Insolvency Trustee Service Australia, an Executive Government Agency that oversights and regulates Australia’s bankruptcy laws, trustees and administrators. The cost of searching a name on the system is $35 depending on information provider and somewhat prohibitive to both commercial and private enterprises. The Insolvency and Trustee Service Australia ("ITSA") is responsible for maintaining an index containing information on proceedings and administrations under the Bankruptcy Act, 1966. Any person can, for a fee, gain access to the information maintained on this index through authorised Index S...

South West-based “Challenge Dairy” announced today it has gone into voluntary administration, admitting it owed substantial amounts of money to farmers. Challenge Australian Dairy manufactures the highest quality cheese, butter, mik, cream, yoghurt, custard and dairy ingredients under the Capel brand. These products are offered into both the Australian domestic market as well as expanding export markets. Breaking NEWS : One of Perth WA's major dairy companies has gone into voluntary administration, after weeks of speculation that it was on the near verge of collapse. The company says it called in administrators PPB after attempts to raise additional funding  and money from the company's shareholders and other sources, its bankers and prospective investors were unsuccessful. Voluntary administration - Challenge Dairy About half of the WA state's dairy farmers supply milk to the company, and a number of them say they have not been paid for milk supplied last ...

The government of india plans to introduce a separate legislation to speed up insolvency proceedings and help distressed firms wind up operations quickly. “Speedy winding up of sick enterprises, particularly small and medium ones, is an area we need to improve,” said a senior official in the ministry of corporate affairs. The Short Second Life of Bree Tanner: An Eclipse Novella (Twilight Saga) The new law will shorten the legal processes involving insolvency operations of small and medium entities. The government is keen to make bankruptcy proceedings a time-bound procedure. Under the present framework, winding up of a corporate entity is guided by provisions of the Companies Act, whereas personal insolvency is guided by other laws. The new companies bill, which is presently pending with a parliamentary standing committee, deal with only corporate insolvency. Liquidation process in India market is fairly protracted, taking on an average 7-10 years, against 1-6 years in othe...

The Australian Securities and Investments Commission has cancelled the Australian Financial Services Licence held by City Pacific. City Pacific Financial services wind-up underway On 25 June 2009, investors in the former City Pacific First Mortgage Fund (now known as the Pacific First Mortgage Fund) voted to remove City Pacific as responsible entity of the fund, and replace it with Trilogy Funds Management. This was followed by orders from the Federal Court of Australia to wind up City Pacific in August. City Pacific Limited (CIY) Financial services - Company Profile City Pacific was incorporated in 1997 as a financial services company, specialising in managing funds on behalf of investors. It first listed on the ASX in ... www.investsmart.com.au/shares/asx/ City - Pacific -CIY.as A statement from ASIC said the decision was made after discussions with the liquidators of City Pacific to ensure the timing of the cancellation would not adversely affect investors in the City ...

Author Alan Duff of Once were warriors fame has admitted to a New Zealand court that he will not be able to pay back the $NZ3.6 million ($A2.87 million) he owes creditors over a failed property venture. Alan duff almost bankrupt The man behind the famed Once Were Warriors story that propelled New Zealand's gang culture onto the world stage is in financial ruin. Alan Duff (born October 26, 1950, Rotorua, New Zealand ) is a New Zealand novelist and newspaper columnist, most well known as the author of Once Were Warriors . Buy Once were warriors Dvd from amazon Once were warriors author in debt The Dominion Post questioned why Duff, now based in France, was driving a Lexus and playing golf at one of the country's most prestigious golf clubs during his summer visit home, but Duff insists he is not spending recklessly. It is a big fall from grace for Duff who wrote the acclaimed best-selling novel Once Were Warriors, a violent love story adapted for a hard-hitting 1994 mov...

Readers digest file for bankruptcy The Classic old magazine is preparing to file a pre-arranged bankruptcy in the United States , where it has prospered for years under slogans such as "America in your pocket". The Reader's Digest , cosy standby of nervous patients in a thousand waiting rooms full of "how to" tips and jokes safe enough to tell grandmother, has become the latest victim of the recession and the internet's effect on paper publishing. A with every bankruptcy . the readers digest bankruptcy will also affect other companies Indian outsourcer HCL Technologies said on Tuesday that its US$350 million outsourcing contract with media company Reader's Digest Association will be unaffected by the U.S. company's financial problems. Reader's Digest plan of agreement for bankruptcy Until recently its prosperity appeared to know no bounds; it published 50 global editions in 21 languages, but its move to seek Chapter 11 bankruptc...

The head of Tasmania's Chamber of Commerce and Industry, Andrew Scobie, has confirmed he is a former bankrupt. Mr Scobie was declared bankrupt in New South Wales in 2001 and his company was liquidated three years later. Mr Scobie later confirmed to the ABC he was made bankrupt and his company liquidated after the Federal Government refused to pay $1 million contract. He also confirmed he did not disclose this to the board when he was made a director of the chamber and still has not told members. Mr Scobie is no longer a bankrupt and says he is built considerable personal wealth.

GM Comes out of bankruptcy , giving hopes of  better American recovery.A new General Motors (GM) emerged from bankruptcy protection on Friday, far more quickly than most industry watchers had expected, as a leaner automaker aiming to win back American consumers and pay back taxpayers.    A whirlwind 40-day bankruptcy for GM concluded with the closing of a deal that sold key operations to a new company that is majority-owned by the US Treasury. The closing documents were signed early Friday by representatives of the government and GM executives at the law firm of Weil, Gotshal & Manges, GM’s bankruptcy counsel. Ownership:US To Own 60% In New Co, Bondholders 10%      Analysts said the government intervention had given GM a new chance and sharply lower operating costs but left management facing deep challenges given the weak economy and GM’s long-running slide in market share . “I wouldn’t really call it a new GM, it is just a smal...

Gordon Ramsay spoke last week spoke frankly to The Sunday Times about keeping the administrators at bay.  It is the first time he has publicly admitted that his empire came close to collapse. Gordon Ramsay fined over late accounts / 23OCt 2008 According to a spokeswoman at Companies House, penalties incurred by Gordon Ramsay Holdings in failing to submit accounts from 2006 have reached the maximum £1,000 per year. Accounts for the 2006 financial reporting year are almost 16 months overdue, with 30 June, 2007 listed as the due date. Company accounts for 2007 were due by 30 June ­ now almost four months in arrears, attracting a £100 fine on top of fines for the previous year. Last autumn, GRH breached covenants on its £500,000 overdraft and £10m of loans with Royal Bank of Scotland (RBS). “We went over our overdraft limit and we did not hit revenue targets,” said Ramsay.  In New York alone Ramsay was losing £2m a year, despite winning two Michelin stars. ...

If you're feeling alone and depressed because you have problems with debt and money , cheer up. You're in the company of the rich and famous who unfortunately also sometimes are in the same boat.That can be the company of billionaires, as in Donald Trump and Michael Jackson , to start at the top of the A-list. The King of Pop died suddenly overnight at the age of 50, after a career spanning 40 years that included the biggest-selling pop album of all time, "Thriller." Despite taking in hundreds of millions of dollars as one of the most successful pop musicians of all time, Jackson racked up about $US500 million ($627 million) of debt , according to sources cited by The Wall Street Journal earlier this month His assets , however, including copyrights to his own songs and a stake in the Beatles' song catalogue, are worth more than $US1 billion, according to a music industry source. The lavish lifestyle was made possible in part by a $US200 millio...

Bank Repossessions For Home , car , Boat Bank repossession will happen where your monthly mortgage payments are not being met on time. Repossession proceedings can happen very quickly following arrears on a mortgage account. The bank has the right to do this if it feels that you are unable to clear the arrears and keep up to date with your mortgage payments. In many situations where payments have been missed on the mortgage, an arrangement can be made with the bank to clear the arrears over a fixed period of time. This will usually involve making overpayments on a monthly basis over a set period of time. Bank repossession happens to many people everyday throughout the country. Unfortunately a lot of these unfortunate people do not realise that sometimes they do have options.Banp Repo is a messy Business. Bank repossesioon can happen to a car loan you have , house loan or then any asset that you have bought with a bank loan and is securitised with them