High Court overturns debt compromise in Trends Publishing case, process 'fundamentally misused'

Thu, 08 Sep 2016

By Edwin Mitson Sept. 8 (BusinessDesk) - The High Court has ruled a compromise agreement reached between magazine publisher Trends Publishing International and its creditors last year be set aside due to a "fundamental misuse of the compromise process" in a case that was partly brought by government innovation funder Callaghan Innovation. Callaghan provided combined funding of $313,536.70 in two tranches to Trends in April and June 2014, but in October of that year it called in Deloitte to look into the money Trends had received. The Se...

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