Following a number of corporate governance failures in situations of insolvency, the Government has published a consultation paper (located here) aimed at cracking down on directors and employers behaving irresponsibly. These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their…
U.S. footwear and apparel company Nine West filed for bankruptcy on Friday and said it would sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it had received $300 million in debtor-in-possession financing and had entered a…
INTEREST has gone through the roof just two days after receivers listed the luxury riverside home of one of Brisbanes prominent families. Receivers moved in midweek on the 1927 Spanish mission style home of Margaret Batt, wife of bankrupt whiskey and cattle baron Keith Batt who founded Nant Distilling Company. Called El Nido, the stunning…
Debt settlement on average saves consumers $2.64 for every $1 in fees paid, boasts a report released last month by the American Fair Credit Council, an industry association of companies operating in the debt settlement industry that have agreed to a strict code of conduct. The AFCC-commissioned report is based on a study of 400,000…
The board of the pharmaceutical cash shell company said it had evaluated several potential reverse takeover candidates with major shareholders in the first quarter of 2018 but had concluded a potential takeover was not deemed to be practical. Woodford is the largest shareholder, owning about 33% of the business. Abaco Capital makes up 0.05%, roughly…
NEW YORK, April 6, 2018 /PRNewswire/ — Nine West Holdings, Inc. (“the Company”), a leading footwear, accessories, women’s apparel, and jeanswear company with a portfolio of brands that includes Nine West, Anne Klein, and Gloria Vanderbilt, today announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. This action…
Following a number of corporate governance failures in situations of insolvency, the Government has published a consultation paper (located here) aimed at cracking down on directors and employers behaving irresponsibly. These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their…
Reid & Taylor India (RTIL) has been admitted for insolvency and bankruptcy proceedings at the National Company Law Tribunal (NCLT) bench here. The Corporate Insolvency Resolution Process has begun and the 180-day deadline for a resolution plan set in. Edelweiss Asset Reconstruction Company (ARC) and Finquest Financial Solutions had filed…
Having concluded hearing from all the parties in the Essar Steel insolvency case, the Ahmedabad bench of National Company Law Tribunal (NCLT) is likely to pronounce the order no later than April 12. On Friday, legal counsels of VTB-backed Numetal, ArcelorMittal, resolution professional (RP) and Essar Steel’s Committee of Creditors (CoC) presented their concluding…
Back in Sydney Erica and the kids have been staying at the impressive Vaucluse mansion Coolong, the beachfront residence of expats Ivan and Marina Ritossa, which set a record back in 2008 when they bought it for a reported $44 million from the late Allco founder David Coe. Indigo and Jackson Packer fom a private…