Another company being investigated by the FMA and the SFO for allegedly operating a Ponzi scheme, Hansa Limited, was placed into liquidation by the High Court in late November 2016.  Those investors who lost money may be interested to learn that one of the liquidators appointed to Hansa, Mr Damien Grant, is a convicted fraudster, who had also given evidence to a High Court judge and jury that was subsequently 'discredited', that an accessory to the frauds was the originator and brains behind the frauds.  Proposed licensing of insolvency practitioners may well exclude those with di

The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future. The not-so-good news is that municipal bankruptcy filings are on the rise, and they are likely to increase. The issues facing parties under contract with a municipality when it files for bankruptcy protection are playing out nationally in places like Stockton, California, and Detroit, Michigan.