A Federal Court judge could place Diploma Group into provisional liquidation as early as Monday following the termination of a property development deal. The administrators from accounting firm Grant Thornton have told creditors of the collapsed builder-developer claiming about $60 million that they may not get a chance to vote on the companys future Justice…
KOLKATA: RP Sanjiv Goenka Group on Thursday announced the restructuring of its flagship company CESC Ltd by splitting it into four companies. Group chairman Sanjiv Goenka said power utility CESC is being split into four companies by way of ‘mirror image’ demerger for value unlocking and focused management on each of the verticals. Elaborating further,…
‘Gone fishing’: One Nation ‘senator’ Rod Culleton tries to dodge impersonation claims Former senator Rod Culleton has updated his Facebook page. Photo: Facebook Mr Culleton is still using his parliamentary email but has added “Gone Fishin’” to his signature. Photo: Facebook Rodney Culleton and One Nation leader Pauline Hanson in parliament in November. Photo: Alex…
KOLKATA: RP Sanjiv Goenka Group on Thursday announced the restructuring of its flagship company CESC Ltd by splitting it into four companies. Group chairman Sanjiv Goenka said power utility CESC is being split into four companies by way of ‘mirror image’ demerger for value unlocking and focused management on each of the verticals. Elaborating further,…
Are your digital transformation initiatives putting your organization into data debt? Data analytics startup Dremio, still in stealth mode, this week released a free Big Data Debt Calculator to help you estimate the unplanned costs that stem from the use of non-relational data management technologies. The data debt problem has grown as organizations undergo digital…
Introduction Single court for group Choice of insolvency administrator New coordination proceeding Comment Introduction The Law for the Facilitation and Management of the Insolvencies of Groups of Companies was finalised on April 13 2017 and announced on April 21 2017. It will enter into force on April 21 2018. Contrary to certain requests within German…
SINGAPORE Singapore Airlines (SIA) announced a major business transformation plan on Friday (May 19), entailing a review of all its business divisions and processes, after reporting an unexpected fourth-quarter net loss of S$138 million. This was the companys first loss in five years. The flag carrier said it will be taking bold radical measures, with…
From a quiet street in Menai to the sands of Bondi Beach, the largest alleged tax fraud syndicate in the country’s history had somewhat humble beginnings. Adam Cranston, 30, son of Australian Taxation Office deputy commissioner Michael Cranston, was arrested on Wednesday with police alleging he set up and ran the $165 million tax fraud…
Debt consolidation has been a great debt repayment program consumers have been using to manage their payments and National Debt Relief recently published an article to explain it more to consumers. The article released April 19, 2017 and titled “How Does a Debt Consolidation Loan Work?” aims to help people understand the repayment program better.…
Rickmers Group has warned bondholders that the company will face insolvency if they do not vote in favour of financial restructuring plans. Should the noteholders not consent to the proposed resolutions, this would presumably result in the insolvency of Rickmers Holding, the company said in a Q&A on its bond restructuring. Should Rickmers be declared…