Ostwald earthmoving plant preparing a feedlot site near Chinchilla PROMINENT Darling Downs civil engineering and construction firm Ostwald Brothers has been placed in voluntary administration. Ostwald Bros is well known across the agriculture sector for its work in feedlot construction and expansion, and earthworks associated with irrigation development. The company also has close business connections…
As the storm Harvey devastates Texas and aims for Louisiana, local, state, and federal officials have already begun warning that the clean up and recovery effort will require a massive amount of resources. That effort will require action by the federal government and Congress. And it comes at a time when Congress is already facing…
In the first round, the RBI had used a benchmark criteria based on which the 12 firms had been identified. As per the criteria, all large corporate accounts with fund and non-fund based exposure of Rs 5,000 crore and above each, and where more than 60 percent of the loans had turned bad as on…
Retired Dublin solicitor and former property tycoon Brian ODonnell exited bankruptcy yesterday, The Irish Times reports. Ms Justice Costello formally discharged him from bankruptcy at a sitting of the High Court yesterday. Mr ODonnell and his wife, Mary Patricia, were judged bankrupt by the High Court in August 2013 in a finding confirmed by the…
Shutterstock photo By Jamie Freed SINGAPORE, Aug 29 (Reuters) – Asia’s second-biggest aircraft lessor, BOC Aviation Ltd, posted a 13 percent rise in half-year net profit but its CEO warned of a potential fall in industry yields from next year as lessors globally absorb more aircraft deliveries. “There is going to be some…
Debt consolidation is one of the most popular debt repayment program for consumers and National Debt Relief aims to help individuals seeking to use the program. The article titled “Before Getting A Debt Consolidation Loan, Ask Yourself These Three Questions” released August 25, 2017 shares some of the questions consumers need to ask themselves before…
NEW DELHI: The Reserve Bank of India (RBI) is readying to release a second list of loan defaulters that may contain some 30-40 companies, including the likes of Videocon, Castex Technologies, Visa Steel and JSPL, ETNow reported. Most of the companies on the list are said to be from the infrastructure and power sectors. ETNow…
MUMBAI: Amid the euphoria over Bankruptcy Code and hopes of turning around debt-ridden companies, many lenders have overlooked a simple, yet crucial, caveat. Almost all significant decisions such as offering preference shares to infuse funds into a defaulting company, selling properties and assets, floating convertibles, and declassifying the promoter following a dilution of shareholding –…
MUMBAI: The bad-loans recovery exercise now has a puzzle to solve: Who pays the 20% Minimum Alternate Tax (MAT) on book profits when assets are written down? The problem, say industry trackers, is that the purchase of a distressed asset triggers write-downs in the profit and loss (P&L) accounts of companies, resulting in likely book…
A rising number of Cumbrians are battling against debt, with more than 800 declared insolvent in a year. One leading advice charity in the county says increasing levels of in-work poverty are now fueling the problem as working adults whose wages have stagnated struggle to make ends meet. Government figures reveal that every local authority…