Author: European Commission. The following press release was issued by the European Commission on April 8, 2016 11:45 am. Commissioner Margrethe Vestager, in charge of competition policy, stated: Following the economic difficulties of Oltchim and the cancellation of public debts owed by the company, we need to verify whether a private creditor would have…
If there is to be any chance of saving the Whyalla steelworks from the wreckage that is Arrium, it probably still lies with its bankers and the big four Australian banks in particular. Should the administration of Arrium, now overseen by Grant Thornton, follow a conventional course, its best asset the Moly-Cop grinding materials business…
A company that ran The Staincliffe Hotel has gone into liquidation. Darwin Hotels Ltd was made the subject of a winding up order at an insolvency court in Leeds on March 8. Brian Morton The Staincliffe, at The Cliff, Seaton Carew, is now trading under another company name which owner Brian Morton is also part…
Hundreds of families across Australia are facing uncertainty after a company that stores umbilical cord blood went into liquidation. Brisbane-based Stemlife had more than 2,000 samples stored in its facility when it appointed liquidators BRI Ferrier early last month. Cord blood contains stem cells that can be used in the treatment of some…
Victorias Secret is cutting jobs. Parent company L Brands has officially announced in a release that Victorias Secret will be streamlining the organisation through the elimination of approximately 200 Columbus and New York home office associates. This is part of an overall restructuring plan. Victorias Secret will be split into three divisions, according to the…
Thousands of Hawaii residents will be losing their health insurance after a local company called Family Health Hawaii (FHH) was ordered into liquidation Thursday. The order, signed by First Circuit Court Judge Karen Nakasone, authorizes insurance commissioner Gordon Ito to take possession and control of FHHs assets as the liquidator and assume the powers of…
A bankrupt man who was living in a backpackers’ hostel when he was arrested on fraud charges tried to buy Melbourne’s historic Block Arcade. Graeme John Effrett, 48, sent realtor Colliers false documents stating he had two bank accounts containing $US110,000 ($A146,000) each so he could enter the tender process for the iconic site, the…
Long-time residents of Whyalla, where the steelworks have gone into voluntary administration, say uncertainty is having an impact on everyone and they are trying to support each other through a tough time. Cafe owner Alessandro Parisi said this week’s news about Arrium was having an impact on his business as well as others. “We’re…