Unilife Corporation today announced that it has commenced a formal proceeding to restructure its balance sheet or to sell its assets as a going concern in order to better position the business for the future. To facilitate this restructuring or sale, the company filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code in the United…
Over the past two years, shares in Ferrexpo(LSE: FXPO) have been on a wild ride. After peaking at a high of just under 500p during 2011, shares in the Ukrainian iron ore miner collapsed to a low of 16p at the end of 2015. But then, in what has to be one of the most…
Over the past two years, shares in Ferrexpo (LSE: FXPO) have been on a wild ride. After peaking at a high of just under 500p during 2011, shares in the Ukrainian iron ore miner collapsed to a low of 16p at the end of 2015. But then, in what has to be one of the…
Corporate law firm Shulmans is strengthening its business recovery and insolvency team with an appointment and internal promotion. Lucy Clark, who joined the firm in 2013, has been promoted to associate. Clark has specific expertise in investigatory work and asset realisation in complex bankruptcies, in addition to extensive knowledge of all matters relating to administrations,…
An ABC investigation into the activities of a number of business advisers, who help companies avoid paying millions of dollars in tax and money owed to small mum-and-dad businesses has uncovered a raft of potentially illegal transactions that are now the subject of investigation by ASIC and the Australian Tax Office (ATO). Key points:…
2017-04-12T09:55+02:00 09:55 12.04.2017 The Individuals Deposit Guarantee Fund has started searching for authorized persons interested in participating in the removal of insolvent Finbank (Odesa) from the market, the fund has reported on its website. Preliminarily the authorized persons would have the following ways to remove the bank from the market: liquidation of the bank, selling…
EMMA ALLEN/FAIRFAX Te Mania Aberdeen Angus Stud is known for its annual sales. A well-known Canterbury stud will be allowed another chance at life after a drawn-out legal fight. Te Mania Aberdeen Angus Stud, stud cattle breeder, was established in 1928 by Edwin Wilding. His family has been involved ever since. But in 1997, the…
Contractor Indigenous Construction Resource Group has suffered two setbacks, with its half-owned joint venture ICRG North expected to go into liquidation owing creditors about $4 million. Perth-based ICRG has also been forced to admit that, contrary to its own statement, it did not buy consulting business Nana Australia. The failure of ICRG North, which worked…
PRAISE: Administrator Mark Mentha has praised Arrium’s workers, saying their commitment to the company has been ‘pivotal’ in progressing the sale process. Arrium administrator Mark Mentha has thanked local workers for their commitment and passion throughout 12 months that the company has been in voluntary administration. Mr Mentha sent out a note to the workforce which…
The Australian sharemarket defied offshore caution but early gains were halved as profit taking hit miners on fading global reflation hopes. Wall Street stocks closed flat last night on rising geopolitical risks, but after opening slightly negative, the S&P/ASX 200 index ramped 0.6 per cent to a fresh two-year. However, the index dropped back and…