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Contempt of Court brings Fine

30-November-2010 Fraud and Insolvency By admin

Mark Bouris raises Contempt of Court case against former directors The Situation - Ignoring Interim Freezing Order  In June 2009, Mr Mark Bouris became the chairman of TZ Ltd. Mr Bouris is well known as the star of The Apprentice reality TV show...

Contempt involving Luna Park and Daily Telegraph

Fraud and Insolvency By admin

Luna Park Sydney has had a long and sometimes turbulent history in Sydney. The Amusement park is located on the north side of Sydney Harbour at Milsons Point. It's smiling face has been part of Sydney landscape for much of the park's life since it opened...

Bank told to compensate for selling shares in low market

Fraud and Insolvency By admin

Macquarie Bank's sale of loan book creates problems for clients The facts behind the case Mr Goodridge (the Borrower) entered into a margin lending loan arrangement with Macquarie Bank in May 2003.  On 8 January 2009 Macquarie Bank sold their...

Desperate employees can do desperate things

Fraud and Insolvency,General By admin

The Association of Certified Fraud Examiners (ACFE) have a free report Occupational Fraud: A Study of the Impact of an Economic Recession available from their website. ACFE President James D. Ratley, CFE says "Desperate people do desperate things....

ASIC sues North Sydney Solicitor for Phoenix companies

Commercial Disputes,Fraud and Insolvency By admin

The Australian Securities and Investments Commission (ASIC) has found a North Sydney Solicitor guilty of advising eight of his clients engage in activity which breached the Corporations Act. This significant case sends a warning to all business advisors....

ASIC releases Insolvent Trading Act

Fraud and Insolvency By admin

Insolvent Trading is a serious issue. As a director of a business you have a responsibility to not let your organisation engage in insolvent trading. This occurs when debts are incurred but at the time it is know they will not be able to be paid as and...

David beats Goliath using a recorded phone call

Commercial Disputes By admin

Macquarie Bank's recorded phone calls used as evidence against them What would you do if faced with a call on a margin loan of $160,000 from Macquarie Bank and given three working days to pay it? Over the past 12 months this has became a common...