Cooper & Oxleys newly appointed chief executive Bob Hudson has promised the builder is entering a new era of transparency and will earn back the confidence of subcontractors working on its projects. Mr Hudson, speaking to The West Australian less than two months into his new job, admitted there were continuing issues emerging about how…
Prominent Perth hospitality and tourism operator The Prendiville Group has confirmed the purchase of bustling inner-city pub The Brisbane Hotel after its previous owner went into voluntary administration. The family-run company added another iconic pub to its portfolio with the purchase of the hip watering hole on the corner of Beaufort and Brisbane streets after prominent…
Famous celebrity pastry chef Adriano Zumbos businesses are reportedly facing a $10 million debt to creditors after three of his sweets-serving companies have entered voluntary administration. The companies, 611 Pty Ltd, Mel611 Pty Ltd and Im So Fancy Pty Ltd had administrators DW Advisory appointed on July 22. The first two companies operate eight Zumbo…
By Stephen Jewkes MILAN (Reuters) – Italian utility Enel <ENEI.MI> expects to raise up to 1.5 billion euros (1.34 billion pounds)from asset sales in the second half of the year to help cut debt after a series of acquisitions. Speaking to analysts on first half results, Enel CFO Alberto De Paoli said disposals would include…
Last month, the Australian Financial Security Authority (FSA) released personal insolvency statistics for 2017-18, which revealed a sharp rise in total personal insolvencies to the highest level since the Global Financial Crisis (GFC): In particular, debt agreements hit the highest annual number on record in all states and territories except Tasmania after posting the seventh…
Upon the termination of a project, the clients of engineering, procurement and construction (EPC) firms invoke performance bank guarantees, thereby increasing liabilities of the creditors. Photo: Priyanka Parashar/Mint Since the introduction of the Insolvency and Bankruptcy Code, 2016 (IBC), a large number of corporate debtors rather than seeing revival have been pushed into liquidation. In…
French vehicle mounted lift manufacturer Klubb has French specialist platform manufacturer Egi. Egi is based in the small village of Les Ayvelles, near Charleville-Mézières, North East France and produces fully insulated- live line and firefighting platforms up to 65 metres. It employs 35 people at a 12,000 square metre plant located on 17 acre site…
The Lok Sabha on Tuesday gave its nod for the Insolvency and Bankruptcy Code (Second Amendment) Bill 2018 that seeks to replace the June 6 ordinance, which provided relief to home buyers and MSME sector. The Bill got the approval of the Lower House after the principal opposition Congress demand of sending it to the…
Australian shares are poised to lift at the open, bolstered by hopes a trade truce between the US and China. ASX futures were up 18 points ahead of 5am AEST. The Australian dollar move towards US74.5¢. Positive sentiment returned after Bloomberg reported US and Chinese officials were looking at ways to restart talks to resolve…
DALLAS–(BUSINESS WIRE)–International law firm Dorsey & Whitney LLP announced today that Matthew Matt DeArman has joined the Firms Finance & Restructuring Group in Dallas as a Partner. Mr. DeArmans practice focuses on the representation of agents, lenders and public and private corporate borrowers in a variety of finance transactions and restructuring matters, including in connection…