By Wayne Robinson | 5 August 2020 Former marketing services powerhouse Salmat will ask its general meeting at the end of the month for approval to delist, wind itself up, and appoint liquidators. Two blokes and a map: Phil Salter and Peter Mattick in 1979 The company, which enjoyed supersonic growth for 35 years, sold…
Virgin Atlantic has declared itself bankrupt and is seeking protection from creditors in the US, according to a court filing in New York on Tuesday. The airline is seeking the protection under chapter 15 of the US bankruptcy code, which allows a foreign debtor to shield assets in the country. The announcement comes little more…
August 04, 2020 08:00 ET | Source: Epiq NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) — Epiq, a global legal services company, announced today that its corporate restructuring business has earned the top ranking in the advisory league tables for claim agent retentions in Chapter 11 bankruptcy cases according to Debtwires Restructuring Data Report. Epiq…
Updated: 2:12 p.m., Tuesday, Aug. 4, 2020 FBI agents raided a Downtown Cleveland high-rise office building that has been linked to Ukrainian oligarchs in a 2019 lawsuit alleging money laundering. A bureau spokeswoman confirmed agents were present at One Cleveland Center on East 9th Street Tuesday morning. The building belongs to Optima Management Group, a…
PizzaExpress has put its UK business up for sale and warned of 1,100 job cuts as it takes more drastic action to stave off collapse as the coronavirus crisis deepens for the casual dining sector. The 55-year-old Italian pizza chain will close 67 restaurants 15 per cent of its UK estate and offload its Chinese…
Co-founders Kristina Karlsson, who started the business in 2001, and Paul Lacy will continue to run the business and will remain shareholders, with kikki.K operating as an Australian sister company to Erin Condren. Following the collapse, nine potential buyers expressed their interest in the brand within 24 hours, the founders said, and customers flocked online…
August 04, 2020 08:00 ET | Source: Epiq NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) — Epiq, a global legal services company, announced today that its corporate restructuring business has earned the top ranking in the advisory league tables for claim agent retentions in Chapter 11 bankruptcy cases according to Debtwires Restructuring Data Report. Epiq…
Recession-hit Argentina announced on Tuesday it has reached an agreement with three major creditors over the restructuring of a $66 billion debt as it seeks to solve its latest sovereign default crisis. The government of President Alberto Fernandez had set an August 4 deadline to complete a deal but it has now pushed the date…
FOR every successful Gympie business there is another fallen by the way side and some have collapsed in the most spectacular ways, occasionally leaving financial wreckage in their wakes. Here are some of the most prominent and longstanding business to have fallen into liquidation over the past five years, whether through mismanagement, bad timing, or…
How did you move into specialising in insolvency? Newcastle born and bred, I moved to Sydney after finishing my commerce degree at Newcastle Uni. I joined accounting firm Grant Thornton when they were handling the restructure of Patrick Stevedores during the 1988 Australian waterfront dispute, which helped change Australian workplace law forever. I also handled…