The latest financial statements of the Nova PropGrow Group, the rescue vehicle of the failed Sharemax investment scheme, show the company is on the verge of insolvency. The financial statements, which were published three months late, also received a qualified audit opinion from the groups new auditor, Nexia SAB&T. The qualified opinion not only questioned…
IKEA US President Lars Petersson apologised in a video announcement sent to employees on Tuesday, following reports of the furniture retailers controversial restructuring. In the video, Petersson, along with Orlando store manager Monica Bogstad, outlined a plan to boost morale. Petersson said that management didnt see the balance between business and people the way we…
Article written by PittStreet Research. For the full report click here Unique proposition in the lucrative bankruptcy services Credit Intelligence (ASX:CI1) is a Hong Kong-based debt restructuring and personal insolvency management service provider. CI1 has been a trusted partner for global banks for over 16 years. Considering the significant number of personal insolvency cases every…
Opinion Jessica Walker and Philip Gilliland 19 Dec 2018 04:03pm While the world of insolvency may often appear murky, in reality very few insolvencies result directly from fraudulent or criminal beha… Read the full article at: https://economia.icaew.com/opinion/december-2018/wine-and-insolvency
Mark Read, CEO, WPP Communications giant WPP has announced a sweeping restructure of its business, with plans to cut 3,500 global jobs across its many divisions. New chief executive Mark Read says the cuts are needed return the business to growth, with redundancies and office closures achieving savings of 275m over the next three years.…
IKEA US President Lars Petersson apologised in a video announcement sent to employees on Tuesday, following reports of the furniture retailers controversial restructuring. In the video, Petersson, along with Orlando store manager Monica Bogstad, outlined a plan to boost morale. Petersson said that management didnt see the balance between business and people the way we…
Halifax Mannin Ltd and Hey Design Services Ltd have been placed in provisional liquidation following a hearing at the High Court on 18 December 2018. This followed applications issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy. Halifax Mannins registered office is in Blaenau Ffestiniog, Wales,…
Greek jewelry maker Folli Follie will seek creditor approval for a planned overhaul of the business, it said on Tuesday, after announcing details of its restructuring following lengthy discussions with advisers. This concerned a group of unsecured creditors who represent about 27 percent of almost 250 million euros of bonds due next year, as well…
Former owner of Arlington Pizzeria charged with defrauding dozens of customers Th… Read the full article at: https://www.actionnewsjax.com/news/local/former-owner-of-arlington-pizzeria-charged-with-defrauding-dozens-of-customers/891282565
This is to inform you that 8th Meeting of Committee of Creditors (CoC) was held on 17.12.2018. In the said meeting, the Resolution Applicants presented their plans before the COC. The next meeting of COC is scheduled to be held on 26/12/2018 for further consideration of Resolution Plans. Kindly take the above on your records.…