Nicolette Van Wijngaarden from Unique Estates, which is being investigated by NSW Fair Trading. THE future of one of Australias top prestige property agencies is in doubt, with an insolvency firm stepping in to manage the business while it is investigated by the trading watchdog. McGrath Nicol has been appointed joint manager of Unique Estates…
DOZENS of local businesses have been left reeling after Mandurah building company Cole Building Pty Ltd went into liquidation last month. Trading as Colista Homes and Colista Constructions, the company went into liquidation on January 31. Steven Kugal from the Insolvency Experts was appointed as the liquidator. More than 50 businesses are on the creditors…
After six months of painstaking insolvency proceedings and due diligences, the beleaguered Essar Steel received just two bids last week, from ArcelorMittal and Numetal Mauritius. And now it looks as though the tug-of-war between steel king LN Mittal and the Ruias may end up seeing no winner because the legal and financial consultants advising the…
THE future of one of Australias top prestige property agencies is in doubt, with an insolvency firm stepping in to manage the business while it is investigated by the trading watchdog. McGrath Nicol has been appointed joint manager of Unique Estates by the NSW Department of Fair Trading. GET THE LATEST REAL ESTATE NEWS DIRECT…
After seven years of restructuring that involved cutting thousands of jobs and bank branches, HSBC has turned itself around with profits rising more than 140 percent over the last year. But the job of strengthening the bank is not over, Chairman Mark Tucker said Wednesday, as the ever-changing global environment calls for a more agile…
20 Feb 7:07 PM Israeli gas fields in the Mediterranean will soon be providing gas exports to Egypt as a part of a 10-year, $15 billion deal announced on Monday. According to the PNN, Israeli gas excavation companies Delek Drilling and Noble Energy will export roughly seven-billion cubic-meters of gas annually from drilling platforms in…
RICHMOND Virginia legislators are seeking to mitigate the personal and economic consequences of their constituents student loan debt by creating a state-level ombudsman to troubleshoot problems and educate borrowers regarding college loans. In 2017, more than 1 million Virginians owed more than $30 billion in student loan debt, state officials say. Nationally, student loan debt…
The argument is simple. State-owned banks, and therefore the State itself, intend to sacrifice ordinary people (aka honest, but defaulting borrowers) by abandoning them to unregulated vulture funds who will gouge them for super profits. This must, in the name of all that is decent and civilised, be stopped. Lets look at the facts. Permanent…
Binani Industries, the promoters of Binani Cement, has put a question mark on the insolvency process of the cement company by valuing it at Rs 173 billion (including mining rights of Rs 117 billion) against the bids of around Rs 63 billion received from Dalmia Bharat and Ultratech Cement. In a filing at the…
Banks would be under less pressure to sell large portfolios of bad mortgages had they dealt with distressed borrowers earlier, the head of the States personal insolvency service has said. Lorcan OConnor, director of the Insolvency Service of Ireland, said banks should have tried to resolve more of their non-performing loans through personal insolvency legislation…