(PRESS RELEASE JOHANNESBURG) AngloGold Ashanti has made the difficult decision to begin a consultation process with employees in terms of section 189 and 189A of the Labour Relations Act, with respect to restructuring certain of its South African business units. This follows a review of the options to safely turn around the performance of these…
Put aside whatever shred of healthcare decency the Senate happens to be ripping out at the moment and take a look at Better, a startup helping people deal with out-of-network medical bills. The startup has just pledged 100 percent of its revenue towards relieving those stuck in serious medical debt at least until this fall. Better…
Amtek Auto Ltd. said on Friday that two of its board members had resigned. Within 24 hours, the auto parts maker brought them back as presidents. The company is among the dozen stressed accounts identified for insolvency proceedings by the Reserve Bank of India. Once the process begins and an insolvency professional is named to…
Police swoop on a luxury Sydney apartment building, ending the 11-month flight of a problem gambler said to be linked to a colourful former mayor’s decision to carry a bag with $50,000 through a Melbourne airport. Inside the Sydney apartment, Queensland police will allege, is $207,000 in cash and another $50,000 in poker chips, despite…
Leon Mok and Bryan Hughes of Pitcher Partners.Picture: supplied WA businesses are showing more resiliency and banks more leniency as the State battles the worst trading conditions in recent memory, according to insolvency veteran Bryan Hughes. Mr Hughes was yesterday named to a new role as executive chairman of Pitcher Partners in Perth as part…
By Tom Hals WILMINGTON, Del., June 27 (Reuters) – Lawyers for people injured by exploding Takata Corp air bags told a U.S. bankruptcy court judge on Tuesday that the company’s restructuring plan is being skewed to benefit automakers over victims. TK Holdings Inc, the U.S. business of Takata, filed for Chapter 11 bankruptcy on Sunday…
The National Company Law Tribunal has rejected insolvency proceedings sought by Leo Duct Engineers & Consultants under the the Insolvency and Bankruptcy Code(IBC), which clears the way for banks to recover assets under the Sarfaesi Act, which was the law of choice before IBC came into existence. The move will help lenders Standard Chartered Bank…