31 October, 2016 Changes to Australias corporate insolvency laws are set to come into effect in 2017 and will result in an increase of powers for creditors in external administrations. IN BRIEF Greater powers afforded to creditors will include the ability to give directions to an external administrator, request the external administrator to convene a…
STATE Security minister Kembo Mohadi and two co-applicants, John and Josias Moyo, have filed an urgent chamber application seeking an order allowing them to file their heads of argument in a legal wrangle, where they are fighting businessman, Reginald Dawson over the liquidation of two Beitbridge companies. BY SILAS NKALA The latest court bid, filed…
Bob Day has resigned from the Senate for the second time in a fortnight, leaving the Turnbull government short one critical vote for its plan to reintroduce the building industry watchdog. The Family First senator has thrown in the towel on his political career, effective immediately, saying a white knight saviour for his stricken building business had failed…
Virgin Australia has joined rival Qantas in announcing a tough start to the year, with soft demand pushing the number two carrier to a first quarter loss. Australia’s second-biggest airline has booked a net loss of $34.6 million for the three months to September 30, hurt by a weak domestic market and restructuring charges. That…
Family First senator Bob Day has tendered his resignation, effective immediately. Key points: Day earlier signalled his intention to resign, but pulled back on that announcement Pressure has been mounting on him to resign after his company went into liquidation Day says he will now work with those affected by the closure of his…
South Australian senator Bob Day has resigned from parliament, effective immediately, in the wake of the collapse of his building business. The Family First senator, who first flagged resigning a fortnight ago after the business went into administration, appeared to change his mind last week saying there wasnt time to find a replacement and that…
Meghan Markle, 35, was slammed by her half-sister, Samantha Grant Miss Grant accused the actress of failing to support her family Miss Markle’s father went bankrupt in September with huge debts Her half-sister said the Prince would be ‘appalled by what she’s done’ In a recent interview the Suits star said ‘I’m the luckiest girl…
ROCHESTER, N.H.–(BUSINESS WIRE)–Albany International Corp. (NYSE:AIN) reported that Q3 2016 net income attributable to the Company was $13.1 million, compared to $9.7 million in Q3 2015. Q3 2016 income before income taxes was $20.9 million, including restructuring charges of $0.3 million and gains of $0.2 million from foreign currency revaluation. Q3 2016 income before income…
According to PWInsider, the Chancery Court of Nashville has denied Billy Corgans request for a temporary injunction against Dixie Carter, Dixies husband Serg Salinas, Dean Broadhead, and Impact Ventures. In addition to denying his request, the court dissolved Corgans temporary restraining order against the company and certain individuals therein. This means that TNA can move…
In the official announcement of President and CEO of Viacom International Media Networks Robert Bakish as acting CEO of Viacom, he also was named President and Chief Executive Officer of a new TV unit, Viacom Global Entertainment Group, which combines VIMN division, which he ran, with the Companys Music and Entertainment Group, overseen by Doug Herzog,…