The High Court in Johannesburg has granted an order allowing for the immediate liquidation of VBS Mutual Banks largest shareholder, thereby allowing liquidators to begin trying to recover as much as half of the R1.5bn that was stolen from depositors of the bank. Acting Deputy Judge President Moroa Tsoka wasted no time on Tuesday in…
DESSERT king Adriano Zumbo appears to have gone to ground amid shock claims his company has gone into voluntary administration. On Wednesday afternoon, the companys phone went unanswered and its website also appears to be down. The last social media posts by the company and Zumbo himself have made no mention of the reported predicament,…
Around 13% of companies in Wales may have suffered a financial hit following the insolvency of a customer, supplier or debtor in the last six months, according to new indicative research from the Welsh branch of R3, the insolvency and restructuring trade body. The Welsh figure is lower than the proportion of UK companies reporting…
Related Posts Kevin Cash struck gold during his 20s, managing to build an estimated £500 million (around R8,7 billion) fortune. He was less lucky in the marriage department, but they say the fourth times the charm. His most recent marriage is to South African model Carla La Reservee, with the pair having tied the knot back in…
At Leeds Crown Court [Tuesday 31 July] former company director Jonathan France was sentenced to 10 years, as well as being disqualified as a company director for 12 years. Also at court were his accomplices Jody Firth and Graham Myles Schofield having assisted Jonathan France carry out his dishonest activities. Jody Firth was sentenced for…
LINCOLN, Neb.–(BUSINESS WIRE)–Jul 31, 2018–Nebraska Book Holdings, Inc. (NBC) announced today, July 31, 2018, that it has successfully completed the restructuring of its balance sheet eliminating the substantial majority of its legacy long-term debt. Going forward the company will have a capital structure that will enable growth and profitability. This was accomplished by NBCs major…
The Clean Energy Finance Corporation could weigh in with debt funding to help support the Snowy 2.0 pumped hydro mega-project as well as the investment required in transmission to help get the power to consumers, chairman Steven Skala has revealed. Mr Skala said that while wind and solar power were rapidly becoming fully cost competitive,…
A second building company has gone under this week, with Maven Interiors, known as M-INT, being placed into voluntary liquidation on Tuesday. Neither Maven Interiors director Allan Tribble nor liquidator Andrew Oorschot could be reached for comment, but a voicemail on the firms main phone said it was moved into voluntary liquidation and a liquidator…
Orange has the equal second highest number of personal bankruptcies in NSW and the equal eighth highest in Australia. It found 77 people in Orange were declared bankrupt in the 2018 financial year, the highest in three years. The number equalled Dubbo and was only behind Port Macquarie (82) for the highest in NSW. The West…
Saskia AdystiAlbany Advertiser Wednesday, 1 August 2018 1:42PM Facebook IconTwitter IconEmail IconLink Icon Katanning BKW Co-Operative shop has gone into voluntary administration. In a letter to members BKW Co-op chairman Norm Flugge said the board was calling for expressions of interest in the business, which has operated for 96 years. The board has arrived at…