The Kaboko judgment brings comfort to directors who hold D&O insurance policies, or those seeking to bring proceedings against directors of an insolvent company, provided the claim is not based in whole or in part on the company's insolvency.
Australia, Corporate Finance/M&A, Insolvency & Restructuring, Insurance, Litigation, Clayton Utz, Liability insurance, Corporations Act 2001 (Australia)
The European Commission has published the VAT gap report for 2013 for 26 member states (Cyprus and Croatia are not included). The VAT gap is an estimate of VAT lost due to fraud and evasion, avoidance, bankruptcies/insolvencies and miscalculations. According to the report, VAT revenue collection in 2013 failed to show significant improvement across member states compared with 2012.
European Union, Insolvency & Restructuring, Tax, White Collar Crime, RPC, Value added tax, European Commission