Citation Resources has appointed KordaMentha as voluntary administrators, while the oil and gas company continues to pursue recovery of funds allegedly misappropriated by former director Peter Landau. Perth-based Citation said today it had entered voluntary administration, with Richard Tucker and Scott Langdon of KordaMentha appointed to oversee the companys affairs. The board advises that it…
After a struggle to repay its debts since last year, Guangxi Nonferrous Metals Group, the Chinese state-owned metal producer, has finally been declared bankrupt, becoming the countrys first interbank bond issuer to fail. The company, owned by the Guangxi provincial government, failed to propose a reorganisation plan within six months after a court order, according…
Theres been strong interest from buyers for Queensland regional trucking business Kurtz Transport after the business was placed in voluntary administration this month. Administrators from Ernst & Young were appointed to manage the company on September 12, with Justin Walsh and Duncan Clubb acting as joint administrators of Kurtz Transport Pty Ltd and Kurtz Holdings Pty Ltd. The business,…
For the moment, Eastern Oregon Regional Airport no longer has commercial flights. The Oregonian is reporting that SeaPort Airlines, the only commercial airline to service the Pendleton airport, will cease operations. In a court hearing Tuesday, a judge ordered the company be converted to a Chapter 7 liquidation effective at noon Wednesday. The Oregonian is…
By SN Ananthasubramanian and Eshwar Sabapathy The Insolvency and Bankruptcy Code, 2016, intended to provide for an enactment to consolidate and amend the law relating to re-organisation and insolvency resolution, has given rise to a new breed the insolvency professional, who holds the key to insolvency resolution. The World Banks Doing Business Report states that…
Stock Exchange Release Talvivaara Mining Company Plc 20 September 2016 Status of Talvivaara’s reorganization proceedings The Company has started preparations for the conversion issue in accordance with the restructuring programme Talvivaara Mining Company Plc (“Company” or “Talvivaara”) announces that today it has received a statement from the Administrator of its corporate reorganization proceedings in which…
Imagine being a senior citizen, living on Social Security and perhaps a small fixed pension, and trying to deal with the rising costs of living. Or imagine being a disabled person with no hope of earning additional money to make ends meet. You’ve been forced to use your credit card to survive, and the balances…
WILLEMSTAD – Former director of the Giro Bank Eric Garcia was arrested again. He was released earlier in the criminal case against him. The judge released to await his trial. He has been arrested again as the result of a civil case. The prosecutor requested his arrest for fear that he would escape. Yesterday Garcia…
Stock Exchange Release Talvivaara Mining Company Plc 20 September 2016 Status of Talvivaara`s reorganization proceedings The Company has started preparations for the conversion issue in accordance with the restructuring programme Talvivaara Mining Company Plc (“Company” or “Talvivaara”) announces that today it has received a statement from the Administrator of its corporate reorganization proceedings in which…
Sept. 20, 2016 2:31 p.m. ET Primorsk International Shipping Ltd. won final bankruptcy-court approval of a liquidation plan that divvies up proceeds from the sale of its oil tanker fleet to Russias Sovcomflot. Primorsks chapter 11 case got off to a rough start after a fight with lenders but, during a hearing in Manhattan Tuesday, a lawyer…