Dana Gas PJSC plans to more than halve profit rates on $700 million of its Islamic bonds after they were found to be non-compliant with religious law, adding a new twist to a debt restructuring initiated in May. The United Arab Emirates-based energy producer said on Tuesday in a filing that it proposes exchanging $350 million…
By Dominic Powell and Emma Koehn. Ten Network Holdings has been placed in a trading halt until Thursday. The company told the the market on Tuesday that two of the shareholders guaranteeing the TV networks loan facility have refused to extend support for it beyond December. The Australian reports financial advisors for Lachlan Murdoch and…
By Reuters Published: 19:25 +10:00, 13 June 2017 | Updated: 19:25 +10:00, 13 June 2017 e-mail By Helen Reid LONDON, June 13 (Reuters) – British shares gained on Tuesday as a sell-off in the tech sector petered out worldwide, financials supported gains and outsourcing company Capita soared as its outlook brightened. Relief was palpable after…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. Play Video Don’t Play Tougher parole laws for terrorists in SA Play Video Don’t Play Video duration 01:21…
It is difficult to see how Ten Network can escape the corporate undertaker after losing the support of the three billionaires, Lachlan Murdoch, James Packer and Bruce Gordon, who until last weekend had been keeping it afloat. The network has a $200 million loan with the Commonwealth Bank that falls due just before Christmas, which it…
A PITTSWORTH egg producer has gone into voluntary administration and the advisory firm appointed is concerned for the welfare of its hens. Insolvency service Cor Cordis announced yesterday it has been appointed voluntary administrators of Darling Downs Fresh Eggs. The family-owned business has provided farm-fresh eggs for more than 16 years. Cor Cordis partners Darryl Kirk…
Max Clifford, the disgraced former PR mogul, has declared bankruptcy owing £7.5 million, including to women who claim that he sexually abused them, The Times can reveal. Clifford, 74, is serving an eight-year jail sentence for indecent assaults on four women and teenage girls between 1966 and 1984. His financial downfall may scupper the claims…
A new committee set up to complement ASICs functions has released the names of lawyers appointed to its ministerial pool. The creation of the federal Insolvency Disciplinary Committee is part of a new Australian corporate insolvency regime that has been enacted in 2016. Minister for Revenue and Financial Services Kelly ODwyer announced last week nine…
A former bankrupt masterminded a large and sophisticated tax-evasion scheme involving a complex web of companies in order to defraud the Australian Taxation Office (ATO), a court has been told. The Federal Court heard last week that Philip Whiteman also installed people including a homeless man as company directors without their knowledge in order…
“We are proud to be the first municipality in the country to offer this kind of student debt assistance to our workforce. We view this as an important investment in our employees,” said Alex Smith, City of Memphis Chief Human Resources Officer. Beginning July 1, eligible Memphis city workers will receive monthly contributions of $50…