Updated Sept. 2, 2016 12:09 a.m. ET Landlords, liquidators and licensing firm Authentic Brands Group have been declared the winners of a contest for distressed retailer Aéropostale, with an offer of $243.3 million in a deal that preserves part of the business, according to a person familiar with the matter. The results of a bankruptcy…
A plan to regulate the insolvency sector and shut down unscrupulous operators is being welcomed by an industry body. Photo: 123RF The government has released the first part of a review into insolvency laws, which recommends licensing for practitioners and steps to improve protection for creditors in voluntary liquidations. The working group’s report said current…
02 September 2016 Emma Ryan View Comments An Australian firm has bolstered its partner numbers with two recent promotions. Thomson Geer welcomed commercial litigation and insolvency specialists Joel…
CALGARY, Aug. 30, 2016 (Canada NewsWire via COMTEX) — Twin Butte Energy Ltd. (TBE) (“Twin Butte” or the “Company”) announces that following the results of its meeting of securityholders held on August 29, 2016, whereby (among other things) the debentureholders of Twin Butte did not approve a proposed plan of arrangement in respect of Twin…
Australians have stolen more than $100 million over the past five years to feed gambling habits, according to a new study whose author thinks the scale of theft he uncovered is just the tip of an iceberg. Warfield & Associates accountant Brett Warfield identified 265 criminal convictions involving 267 offenders from 2011 to July this…
Woolworths’ deal to sell off Masters stores and sites has been complicated by legal action by Lowe’s. Wayne Taylor Woolworths and its home improvement partner Lowe’s Companies will face off in court on Wednesday over a $835 million deal to sell Masters stores and sites to a consortium of property developers. After seven months of negotiations, Lowe’s took Woolworths by surprise…
“See you for your next project!” says the big sign on the way out of the cavernous – and empty – Masters hardware barn. This seems unlikely. The entire chain is shutting down across Australia before Christmas and their much-vaunted fire sale feels a bit wet. Across the country Masters stores are near-deserted, with those shopping for bargains in the…
NEW DELHI: RBI today said everything is not hunky-dory about public sector banks‘ retail lending and underlined the need for improving credit appraisal and monitoring. “If you look at the credit growth you do see that there is more growth in private sector as opposed to the public sector banks and then you have problem…
Abengoa SA plans to resume work in the next few months on Latin Americas first solar-thermal plant, as the Spanish renewable energy company comes back from the brink of bankruptcy, people with knowledge of the matter said. Work on the $1 billion Atacama I project in northern Chile, a joint venture between Abengoa and private equity firm…
Cameron Burnell Cramar Investments Ltd, the company which owns the Awakino Hotel, is the subject of liquidation proceedings in the High Court. Unpaid taxes totalling more than $70,000 could result in the liquidation of a company which owns a North Taranaki pub. Court documents show the Inland Revenue Department (IRD) applied to the High Court for…