Australia’s corporate insolvency laws are among the most favourable to banks in the world, but this mantle could be threatened by looming changes to wrestle power away from lenders. The federal government is expected to soon publish legislation it hopes will “reduce the stigma associated with business failure”, and one aspect of this will be an overhaul…
Taking on the chief executive role at Wesfarmers is akin to becoming the president of the People’s Republic of China. You can safely count on a 10-year tenure unless the peasants revolt. So maybe we shouldn’t pay too much attention to the news that Richard Branson‘s former lieutenant the flashy David Baxby is joining Wesfarmers…
Drake & Scull International (DSI), a regional engineering and services leader, said it has won approval from shareholders on the proposed capital restructuring programme which will see the company pursue a two-pronged strategy with additional capital reduction in the first phase and endorsement of Dh500 million ($136 million) capital increase in the second phase. The…
Drake & Scull International (DSI), a regional engineering and services leader, said it has won approval from shareholders on the proposed capital restructuring programme which will see the company pursue a two-pronged strategy with additional capital reduction in the first phase and endorsement of Dh500 million ($136 million) capital increase in the second…
10:54 29/05/2017 MOSCOW, May 29 (RAPSI) The Moscow Commercial Court had declared Pallada Asset Management, oldest management company in Russia, bankrupt, RAPSI learnt in the court on Monday. The company, founded in 1996, is an acting manager of retirement savings for a non-state pension fund (NPF) Mechel-Fund. The court has found that there are indications…
Murray Wilson/ Fairfax NZ. The Palmerston North City Council has stopped legal action to get liquidators removed from administering a property company. The Palmerston North City Council has abandoned plans to get liquidators booted from controlling a property company that is set to leave creditors more than $700,000 out of pocket. The issues relate to Farm…
Under the Insolvency and Bankruptcy Code, 2016 (Code), an operational creditor can initiate a corporate insolvency resolution process (CIRP) of the corporate debtor by filing an application before the relevant National Company Law Tribunal (NCLT/ Adjudicating Authority) upon occurrence of a default in payment of its operational debt. However, the operational creditor must first send…
Padlocked and falling apart: Rio Olympic legacy in tatters Waves batter the incline near the site of a collapsed section of a bicycle path in Rio de Janeiro, Brazil, on Thursday, April 21, 2016. Two people have died after a 50-meter section of a recently completed cycle path built as part of Rio de Janeiro’s…
(Photo: Getty Images) × Debt Consolidation, Negotiation, or Elimination: Which Should You Choose? (Photo: Getty Images) As of the first quarter in 2017, American household debt topped $12 trillion. The main contributors to this debt are home mortgages, auto and student loans, plus credit card debt. With mounting debt and the lowest savings rate since 2005…
Padlocked and falling apart: Rio Olympic legacy in tatters Waves batter the incline near the site of a collapsed section of a bicycle path in Rio de Janeiro, Brazil, on Thursday, April 21, 2016. Two people have died after a 50-meter section of a recently completed cycle path built as part of Rio de Janeiro’s…