HONG KONG (Reuters) – Noble Group Ltd (NOBG.SI) warned on Monday that it would begin insolvency proceedings if the beleaguered commodity traders $3.4 billion debt restructuring proposal was not approved by shareholders. Nobles debt restructuring process is seen as critical for the firms survival. But the deal has been opposed by some bondholders and shareholders,…
Former rugby league star Jarrod McCracken has been handed a $5000, two-year good behaviour bond for leaving the country while bankrupt. McCracken, 47, appeared in Brisbane Magistrates Court on Monday where he pleaded guilty to three charges of leaving Australia, and one of preparing to leave Australia, while an undischarged bankrupt. The court heard the…
Embattled commodity trader Noble Group Ltd. issued a defense of its planned restructuring, saying that if shareholders vote down the plan, it will probably enter insolvency proceedings in the U.K. and existing equity holders risk being wiped out. If the primary restructuring is not approved by shareholders, the board will have no option but to…
Former rugby league player Jarrod McCracken has pleaded guilty to leaving the country while bankrupt. McCracken appeared in Brisbane Magistrates Court on Monday to face four charges of leaving and preparing to leave Australia while an undischarged bankrupt without the consent of a trustee. The embattled former New Zealand footballer, who will be sentenced on…
Former Auburn deputy mayor Salim Mehajer has been slapped with drug dealing charges a week after being declared bankrupt. In the latest blow for Mehajer, who has been behind bars charged with conspiracy to pervert the course of justice and conspiring to cheat or defraud since January, he has now been charged relating to the…
Bankruptcy can be avoided if you heed these simple tips. Having to declare bankruptcy is a scary proposition for many. And while no one ever wants to find themselves in a situation where theres no other alternative, sometimes lifes events simply make it inescapable. Unfortunately, small business owners make up a high percentage of those…
Saturday, 24 March 2018 11:00AM Email IconSean Smith McGrathNicol, which was put into Quintis by bondholders in late January, is seeking to either sell or recapitalise the company.Picture: Countryman Quintis receivers have reported good interest from potential buyers and investors after closing the first phase of their expressions of interest campaign for the failed sandalwood…
Tata Steel on Friday said it has accepted the letter of intent for the sale of Bhushan Steel for an undisclosed amount. According to industry sources, the Tata group firm is likely to pay Rs 352 billion in cash for the deal. However, there are likely to be hiccups since the National Company Law…
A Dutch court classifies Bitcoin as a transferable value after the court ruled in favour of a plaintiff who was owed 0.591 Bitcoins (BTC), according to a court document published March 20. The claim was filed in a Dutch court by Mr. J.W. de Vries on 2 February 2018 against Koinz Trading BV, a non-public…
10:49 AM GMT Ben Gladwell The Milan prosecutor’s office has opened an investigation into the sale of AC Milan from Silvio Berlusconi’s Fininvest company to Li Yonghong last April, ANSA and Reuters report. No individuals are as yet named as suspects in what is currently a preliminary investigation based on suspicious movements of funds picked…